Control4 Corporation (CTRL) Short Interest Update
Control4 Corporation (NASDAQ:CTRL) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 1,413,585 shares, an increase of 34.8% from the August 31st total of 1,048,779 shares. Based on an average daily volume of 614,500 shares, the days-to-cover ratio is presently 2.3 days. Currently, 6.2% of the shares of the stock are sold short.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Control4 Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Control4 Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Wednesday, August 9th. Cowen and Company raised shares of Control4 Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $22.00 to $30.00 in a research note on Friday, September 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective (up from $22.00) on shares of Control4 Corporation in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $21.88.
In related news, Director Robert Born sold 2,356 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $22.55, for a total value of $53,127.80. Following the completion of the transaction, the director now directly owns 15,433 shares of the company’s stock, valued at $348,014.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Susan Cashen sold 1,768 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $22.87, for a total transaction of $40,434.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,546 shares of company stock valued at $194,603. 6.10% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of Control4 Corporation by 38.3% in the 2nd quarter. Renaissance Technologies LLC now owns 850,400 shares of the electronics maker’s stock worth $16,676,000 after acquiring an additional 235,700 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Control4 Corporation by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 849,627 shares of the electronics maker’s stock worth $16,661,000 after acquiring an additional 49,595 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Control4 Corporation by 100.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 802,857 shares of the electronics maker’s stock worth $15,744,000 after acquiring an additional 402,208 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Control4 Corporation by 11.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 800,964 shares of the electronics maker’s stock worth $15,707,000 after acquiring an additional 81,180 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Control4 Corporation by 638.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 729,785 shares of the electronics maker’s stock worth $14,311,000 after acquiring an additional 630,921 shares during the last quarter. 74.27% of the stock is owned by institutional investors and hedge funds.
Control4 Corporation (NASDAQ CTRL) opened at 29.71 on Thursday. The stock has a market capitalization of $738.44 million, a price-to-earnings ratio of 72.46 and a beta of -0.57. The firm’s 50-day moving average is $26.44 and its 200 day moving average is $20.94. Control4 Corporation has a 1-year low of $9.97 and a 1-year high of $30.83.
Control4 Corporation (NASDAQ:CTRL) last issued its earnings results on Thursday, August 3rd. The electronics maker reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.09. Control4 Corporation had a return on equity of 10.77% and a net margin of 4.70%. The business had revenue of $61.40 million during the quarter, compared to the consensus estimate of $60.70 million. During the same period last year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts anticipate that Control4 Corporation will post $1.04 EPS for the current fiscal year.
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Control4 Corporation Company Profile
Control4 Corporation (Control4) is a provider of smart home and business solutions. The Company’s smart home and small business solutions provide consumers with the ability to integrate audio, video, lighting, temperature, security, communications, network management and other functionalities into a unified automation solution, customized to match their lifestyles and business needs.
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