Algert Global LLC Boosts Stake in Lantronix, Inc. (LTRX)
Algert Global LLC boosted its position in Lantronix, Inc. (NASDAQ:LTRX) by 228.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,915 shares of the technology company’s stock after buying an additional 135,597 shares during the period. Algert Global LLC owned about 1.11% of Lantronix worth $474,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of LTRX. Thompson Davis & CO. Inc. purchased a new position in shares of Lantronix during the first quarter worth $120,000. Spark Investment Management LLC purchased a new position in shares of Lantronix during the first quarter worth $138,000. Stifel Financial Corp purchased a new position in shares of Lantronix during the first quarter worth $152,000. Goldman Sachs Group Inc. increased its position in shares of Lantronix by 170.9% in the first quarter. Goldman Sachs Group Inc. now owns 54,178 shares of the technology company’s stock worth $210,000 after buying an additional 34,182 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Lantronix during the first quarter worth $231,000. Institutional investors and hedge funds own 17.40% of the company’s stock.
Lantronix, Inc. (LTRX) opened at 2.02 on Friday. The firm’s market capitalization is $35.52 million. The firm has a 50 day moving average of $2.29 and a 200 day moving average of $2.59. Lantronix, Inc. has a 12-month low of $1.23 and a 12-month high of $4.09.
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A number of brokerages recently weighed in on LTRX. Zacks Investment Research downgraded shares of Lantronix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 17th. ValuEngine upgraded shares of Lantronix from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Lake Street Capital boosted their target price on shares of Lantronix from $2.50 to $4.00 and gave the stock a “buy” rating in a report on Friday, April 28th.
In related news, VP Michael Andrew Fink sold 11,000 shares of Lantronix stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $2.40, for a total value of $26,400.00. Following the completion of the sale, the vice president now owns 12,094 shares of the company’s stock, valued at approximately $29,025.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 77,194 shares of company stock valued at $179,082. 52.00% of the stock is currently owned by insiders.
Lantronix, Inc is a provider of secure data access and management solutions for Internet of things (IoT) and information technology (IT) assets. The Company organizes its products and solutions into three product lines, including IoT, IT Management and Other. Its IoT products consist of IoT Gateways and IoT Building Blocks.
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