Marathon Asset Management Ltd Sells 369,918 Shares of nLight $LASR

Marathon Asset Management Ltd reduced its stake in nLight (NASDAQ:LASR) by 50.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 366,148 shares of the company’s stock after selling 369,918 shares during the quarter. Marathon Asset Management Ltd owned 0.73% of nLight worth $10,849,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LASR. GAMMA Investing LLC raised its position in nLight by 147.6% in the second quarter. GAMMA Investing LLC now owns 1,550 shares of the company’s stock worth $31,000 after acquiring an additional 924 shares during the period. Osaic Holdings Inc. increased its stake in shares of nLight by 1,599.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of nLight by 162.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,747 shares of the company’s stock worth $54,000 after purchasing an additional 1,700 shares during the period. Militia Capital Partners LP bought a new stake in shares of nLight in the 2nd quarter worth approximately $71,000. Finally, Tower Research Capital LLC TRC lifted its stake in nLight by 213.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,764 shares of the company’s stock valued at $94,000 after purchasing an additional 3,246 shares during the last quarter. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Wall Street Analysts Forecast Growth

LASR has been the subject of a number of recent research reports. Cantor Fitzgerald raised their target price on nLight from $33.50 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a research note on Wednesday, October 8th. Canaccord Genuity Group raised nLight to a “buy” rating in a report on Wednesday, December 17th. Needham & Company LLC upped their price objective on shares of nLight from $32.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.29.

Insider Activity at nLight

In other nLight news, CFO Joseph John Corso sold 66,075 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $36.32, for a total transaction of $2,399,844.00. Following the transaction, the chief financial officer directly owned 196,224 shares in the company, valued at $7,126,855.68. This trade represents a 25.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James Nias sold 1,200 shares of nLight stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $30.00, for a total transaction of $36,000.00. Following the transaction, the chief accounting officer directly owned 99,512 shares in the company, valued at $2,985,360. This trade represents a 1.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 109,514 shares of company stock valued at $3,911,043 over the last ninety days. 6.10% of the stock is currently owned by insiders.

nLight Trading Down 0.3%

Shares of LASR opened at $39.20 on Monday. The firm’s 50 day simple moving average is $33.99 and its 200 day simple moving average is $27.98. The company has a market capitalization of $1.99 billion, a P/E ratio of -44.55 and a beta of 2.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.63 and a quick ratio of 4.36. nLight has a 1-year low of $6.20 and a 1-year high of $39.99.

About nLight

nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.