Quantitative Investment Management LLC purchased a new stake in iRobot Co. (NASDAQ:IRBT) during the fourth quarter, HoldingsChannel reports. The firm purchased 63,200 shares of the industrial products company’s stock, valued at approximately $4,847,000.
Several other hedge funds also recently bought and sold shares of IRBT. Alps Advisors Inc. bought a new stake in shares of iRobot in the 3rd quarter valued at $359,000. Cipher Capital LP bought a new stake in shares of iRobot in the 3rd quarter valued at $411,000. Sei Investments Co. increased its position in shares of iRobot by 27.6% in the 3rd quarter. Sei Investments Co. now owns 56,698 shares of the industrial products company’s stock valued at $4,369,000 after buying an additional 12,274 shares in the last quarter. Prudential Financial Inc. increased its position in shares of iRobot by 5.9% in the 3rd quarter. Prudential Financial Inc. now owns 52,035 shares of the industrial products company’s stock valued at $4,010,000 after buying an additional 2,890 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in shares of iRobot in the 4th quarter valued at $3,498,000. 89.32% of the stock is currently owned by institutional investors.
IRBT has been the subject of a number of recent analyst reports. BidaskClub cut shares of iRobot from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 9th. Sidoti upgraded shares of iRobot from a “neutral” rating to a “buy” rating in a research report on Friday, February 9th. Zacks Investment Research cut shares of iRobot from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Piper Jaffray Companies restated a “neutral” rating on shares of iRobot in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upgraded shares of iRobot from an “underweight” rating to a “neutral” rating and set a $61.00 price objective for the company in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $68.80.
iRobot Co. (NASDAQ:IRBT) opened at $69.12 on Wednesday. The stock has a market capitalization of $1,963.71, a PE ratio of 36.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16. iRobot Co. has a 1-year low of $55.77 and a 1-year high of $109.78.
iRobot (NASDAQ:IRBT) last released its earnings results on Wednesday, February 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.29. The firm had revenue of $327.00 million during the quarter, compared to analysts’ expectations of $319.02 million. iRobot had a return on equity of 12.62% and a net margin of 5.77%. The company’s revenue was up 53.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. equities analysts expect that iRobot Co. will post 2.3 earnings per share for the current year.
iRobot declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other iRobot news, Director Andrew Miller sold 441 shares of the stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $80.11, for a total transaction of $35,328.51. Following the completion of the transaction, the director now owns 4,670 shares in the company, valued at approximately $374,113.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Colin M. Angle sold 45,200 shares of the stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $80.06, for a total value of $3,618,712.00. Following the transaction, the chief executive officer now owns 534,663 shares of the company’s stock, valued at approximately $42,805,119.78. The disclosure for this sale can be found here. 4.49% of the stock is currently owned by corporate insiders.
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iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.
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