Municipal Employees Retirement System of Michigan raised its holdings in shares of iRobot Co. (NASDAQ:IRBT) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,540 shares of the industrial products company’s stock after buying an additional 1,130 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in iRobot were worth $885,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of IRBT. Old Mutual Global Investors UK Ltd. grew its position in iRobot by 106.3% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 689,707 shares of the industrial products company’s stock worth $52,900,000 after buying an additional 355,441 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in iRobot by 47.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 978,328 shares of the industrial products company’s stock worth $75,038,000 after buying an additional 315,233 shares in the last quarter. Hunt Lane Capital LP purchased a new position in iRobot during the fourth quarter worth about $21,860,000. Vident Investment Advisory LLC grew its position in iRobot by 107.6% during the fourth quarter. Vident Investment Advisory LLC now owns 484,539 shares of the industrial products company’s stock worth $37,164,000 after buying an additional 251,095 shares in the last quarter. Finally, Global X Management Co. LLC grew its position in iRobot by 127.6% during the fourth quarter. Global X Management Co. LLC now owns 304,133 shares of the industrial products company’s stock worth $23,327,000 after buying an additional 170,502 shares in the last quarter. Institutional investors and hedge funds own 89.27% of the company’s stock.
In other iRobot news, CEO Colin M. Angle sold 45,200 shares of iRobot stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $80.06, for a total transaction of $3,618,712.00. Following the completion of the sale, the chief executive officer now owns 534,663 shares of the company’s stock, valued at $42,805,119.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew Miller sold 441 shares of iRobot stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $80.11, for a total value of $35,328.51. Following the sale, the director now directly owns 4,670 shares of the company’s stock, valued at approximately $374,113.70. The disclosure for this sale can be found here. Insiders own 4.49% of the company’s stock.
Shares of iRobot Co. (NASDAQ:IRBT) opened at $66.50 on Friday. iRobot Co. has a 52 week low of $55.77 and a 52 week high of $109.78. The stock has a market capitalization of $1,934.09, a PE ratio of 37.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.
iRobot (NASDAQ:IRBT) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.29. iRobot had a return on equity of 12.62% and a net margin of 5.77%. The firm had revenue of $327.00 million during the quarter, compared to analyst estimates of $319.02 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue was up 53.9% compared to the same quarter last year. equities analysts predict that iRobot Co. will post 2.3 earnings per share for the current fiscal year.
iRobot announced that its board has authorized a share repurchase 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. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Several equities analysts recently commented on the company. UBS upgraded iRobot from a “market perform” rating to an “outperform” rating in a research report on Friday, February 9th. BidaskClub upgraded iRobot from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Piper Jaffray Companies restated a “neutral” rating on shares of iRobot in a research report on Thursday, February 8th. Sidoti cut iRobot from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. Finally, Zacks Investment Research cut iRobot from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.80.
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iRobot Company Profile
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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