Swiss National Bank purchased a new stake in Control4 Corp (NASDAQ:CTRL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,200 shares of the electronics maker’s stock, valued at approximately $1,196,000. Swiss National Bank owned about 0.16% of Control4 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Control4 by 35.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 985,858 shares of the electronics maker’s stock valued at $29,043,000 after buying an additional 256,073 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Control4 by 14.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 915,412 shares of the electronics maker’s stock valued at $26,968,000 after buying an additional 112,555 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Control4 by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 849,627 shares of the electronics maker’s stock valued at $16,661,000 after buying an additional 49,595 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of Control4 in the 3rd quarter valued at about $12,680,000. Finally, State Street Corp grew its position in shares of Control4 by 20.2% in the 2nd quarter. State Street Corp now owns 341,024 shares of the electronics maker’s stock valued at $6,689,000 after buying an additional 57,425 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.
A number of equities research analysts have commented on the company. BidaskClub upgraded Control4 from a “strong sell” rating to a “sell” rating in a research report on Friday, March 9th. Imperial Capital upgraded Control4 from an “in-line” rating to an “outperform” rating and upped their target price for the company from $24.65 to $30.00 in a research report on Thursday, March 8th. Zacks Investment Research upgraded Control4 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Dougherty & Co restated a “neutral” rating on shares of Control4 in a research report on Monday, February 12th. Finally, Maxim Group upgraded Control4 from a “hold” rating to a “buy” rating and upped their target price for the company from $33.00 to $36.00 in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Control4 has an average rating of “Hold” and an average target price of $30.67.
Control4 (NASDAQ:CTRL) last announced its earnings results on Thursday, February 8th. The electronics maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. Control4 had a return on equity of 12.74% and a net margin of 6.53%. The company had revenue of $68.34 million for the quarter, compared to analyst estimates of $67.21 million. During the same quarter in the prior year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. equities analysts forecast that Control4 Corp will post 0.79 earnings per share for the current year.
Control4 declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 8th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the electronics maker to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Control4 news, CEO Martin Plaehn sold 41,585 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $24.51, for a total value of $1,019,248.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eric Anderson sold 14,384 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $30.54, for a total value of $439,287.36. 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. Corporate insiders own 6.10% of the company’s stock.
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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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