Algert Global LLC Lowers Stake in IntriCon Co. (IIN)
Algert Global LLC cut its holdings in IntriCon Co. (NASDAQ:IIN) by 75.5% during the 2nd quarter, Holdings Channel reports. The firm owned 20,117 shares of the technology company’s stock after selling 61,947 shares during the period. Algert Global LLC’s holdings in IntriCon were worth $811,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in IntriCon by 21.5% during the fourth quarter. Renaissance Technologies LLC now owns 288,600 shares of the technology company’s stock worth $5,714,000 after acquiring an additional 51,000 shares during the last quarter. Deutsche Bank AG boosted its position in IntriCon by 43.3% during the fourth quarter. Deutsche Bank AG now owns 62,602 shares of the technology company’s stock worth $1,239,000 after acquiring an additional 18,910 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in IntriCon during the first quarter worth approximately $166,000. JPMorgan Chase & Co. acquired a new stake in IntriCon during the first quarter worth approximately $294,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in IntriCon during the first quarter worth approximately $386,000. Institutional investors and hedge funds own 40.28% of the company’s stock.
A number of analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $65.00 target price (up previously from $50.00) on shares of IntriCon in a research report on Thursday, July 26th. B. Riley raised their target price on shares of IntriCon from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. Zacks Investment Research upgraded shares of IntriCon from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, July 11th. Finally, ValuEngine upgraded shares of IntriCon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $56.67.
IntriCon (NASDAQ:IIN) last announced its earnings results on Wednesday, July 25th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.15. The firm had revenue of $30.16 million for the quarter, compared to analyst estimates of $26.10 million. IntriCon had a net margin of 4.32% and a return on equity of 20.63%. sell-side analysts anticipate that IntriCon Co. will post 0.77 earnings per share for the current year.
IntriCon Corporation, together with its subsidiaries, designs, develops, engineers, manufactures, and distributes body-worn devices in the United States, Europe, Asia, and internationally. The company operates in two segments, Body Worn Devices and Hearing Health Direct-To-Consumer. It offers micro-miniature products, microelectronics; micro-mechanical assemblies; high-precision injection-molded plastic components; and assemblies and software solutions for medical bio-telemetry devices, hearing healthcare, and professional audio communication devices markets.
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