Allianz Asset Management GmbH lifted its position in Control4 Corp (NASDAQ:CTRL) by 1,275.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 314,865 shares of the electronics maker’s stock after purchasing an additional 291,965 shares during the period. Allianz Asset Management GmbH owned about 1.22% of Control4 worth $9,370,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CTRL. New York State Common Retirement Fund grew its holdings in shares of Control4 by 42.1% in the second quarter. New York State Common Retirement Fund now owns 27,000 shares of the electronics maker’s stock worth $529,000 after purchasing an additional 7,999 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Control4 by 26.1% in the second quarter. Northern Trust Corp now owns 269,321 shares of the electronics maker’s stock worth $5,282,000 after purchasing an additional 55,818 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Control4 by 6.2% in the second quarter. Vanguard Group Inc. now owns 849,627 shares of the electronics maker’s stock worth $16,661,000 after purchasing an additional 49,595 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of Control4 in the second quarter worth approximately $213,000. Finally, State Street Corp grew its holdings in shares of Control4 by 20.2% in the second quarter. State Street Corp now owns 341,024 shares of the electronics maker’s stock worth $6,689,000 after purchasing an additional 57,425 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.
In related news, CEO Martin Plaehn sold 41,585 shares of Control4 stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $24.51, for a total value of $1,019,248.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark Novakovich sold 28,302 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $24.97, for a total transaction of $706,700.94. Following the sale, the chief financial officer now owns 47,235 shares in the company, valued at approximately $1,179,457.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,103 shares of company stock worth $4,760,985. 6.10% of the stock is currently owned by company insiders.
Shares of Control4 Corp (NASDAQ:CTRL) opened at $25.31 on Tuesday. The firm has a market cap of $653.85, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.15 and a beta of -0.42. Control4 Corp has a fifty-two week low of $14.40 and a fifty-two week high of $35.99.
Control4 (NASDAQ:CTRL) last released its quarterly earnings results on Thursday, February 8th. The electronics maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The business had revenue of $68.34 million for the quarter, compared to analysts’ expectations of $67.21 million. Control4 had a net margin of 6.53% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. equities analysts expect that Control4 Corp will post 0.79 earnings per share for the current fiscal year.
Control4 announced that its Board of Directors has approved a share buyback plan on Thursday, February 8th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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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