Hillsdale Investment Management Inc. Takes $6.66 Million Position in Allient Inc. $ALNT

Hillsdale Investment Management Inc. bought a new position in shares of Allient Inc. (NASDAQ:ALNT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 148,740 shares of the company’s stock, valued at approximately $6,656,000. Hillsdale Investment Management Inc. owned about 0.88% of Allient as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Allient by 19.8% during the 1st quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after purchasing an additional 18,416 shares during the period. AQR Capital Management LLC increased its stake in Allient by 8.0% in the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after purchasing an additional 3,979 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Allient by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after buying an additional 390 shares during the period. Empowered Funds LLC boosted its stake in Allient by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after buying an additional 3,458 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock worth $404,000 after buying an additional 1,663 shares during the last quarter. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Stock Up 1.2%

ALNT opened at $68.37 on Friday. Allient Inc. has a 1 year low of $19.25 and a 1 year high of $70.00. The firm has a 50 day moving average price of $60.43 and a 200 day moving average price of $52.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. The company has a market cap of $1.16 billion, a PE ratio of 61.04 and a beta of 1.53.

Insider Activity

In other news, VP Ashish Bendre sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total value of $836,000.00. Following the transaction, the vice president owned 23,166 shares of the company’s stock, valued at approximately $1,210,423.50. This trade represents a 40.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Lake Street Capital began coverage on shares of Allient in a research note on Wednesday. They set a “buy” rating and a $79.00 price objective for the company. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Roth Mkm increased their price target on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Allient presently has an average rating of “Hold” and a consensus target price of $57.50.

Allient Profile

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.