Los Angeles Capital Management & Equity Research Inc. Invests $875,000 in Model N Inc (MODN) Stock

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Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Model N Inc (NYSE:MODN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 47,050 shares of the software maker’s stock, valued at approximately $875,000. Los Angeles Capital Management & Equity Research Inc. owned about 0.15% of Model N at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Model N by 30.6% in the first quarter. BlackRock Inc. now owns 1,507,063 shares of the software maker’s stock valued at $27,203,000 after purchasing an additional 353,477 shares during the last quarter. First Light Asset Management LLC increased its holdings in shares of Model N by 13.3% in the first quarter. First Light Asset Management LLC now owns 1,070,023 shares of the software maker’s stock valued at $19,314,000 after purchasing an additional 125,898 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Model N by 51.0% in the first quarter. Millennium Management LLC now owns 1,062,435 shares of the software maker’s stock valued at $19,177,000 after purchasing an additional 358,797 shares during the last quarter. Lyon Street Capital LLC increased its holdings in shares of Model N by 2.1% in the first quarter. Lyon Street Capital LLC now owns 680,452 shares of the software maker’s stock valued at $12,282,000 after purchasing an additional 14,175 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Model N by 14.6% in the first quarter. Allianz Asset Management GmbH now owns 358,488 shares of the software maker’s stock valued at $6,471,000 after purchasing an additional 45,666 shares during the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.

In other news, major shareholder Zack Rinat sold 31,488 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $18.01, for a total value of $567,098.88. Following the completion of the sale, the insider now owns 3,250,009 shares of the company’s stock, valued at $58,532,662.09. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 1,030,080 shares of company stock valued at $17,568,847. 18.90% of the stock is currently owned by company insiders.

Shares of Model N stock opened at $16.05 on Monday. The stock has a market capitalization of $542.20 million, a PE ratio of -19.34 and a beta of 0.91. Model N Inc has a 52-week low of $13.07 and a 52-week high of $20.33. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.18.

Model N (NYSE:MODN) last announced its earnings results on Tuesday, August 7th. The software maker reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.03. The company had revenue of $39.62 million during the quarter, compared to analysts’ expectations of $39.28 million. Model N had a negative net margin of 21.89% and a negative return on equity of 61.62%. analysts anticipate that Model N Inc will post -0.78 earnings per share for the current year.

MODN has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Model N from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Model N to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. They noted that the move was a valuation call. Dougherty & Co initiated coverage on shares of Model N in a research report on Tuesday, June 12th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Needham & Company LLC initiated coverage on shares of Model N in a research report on Wednesday, July 18th. They issued a “buy” rating and a $23.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $22.00.

Model N Profile

Model N, Inc provides revenue management cloud solutions for the life sciences, technology, and manufacturing companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, Revenue Cloud for High Tech, and Revenue Cloud. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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Institutional Ownership by Quarter for Model N (NYSE:MODN)

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