Renaissance Technologies LLC acquired a new position in K2M Group Holdings Inc (NASDAQ:KTWO) during the second quarter, Holdings Channel reports. The institutional investor acquired 17,400 shares of the medical device company’s stock, valued at approximately $392,000.
A number of other large investors have also recently added to or reduced their stakes in KTWO. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of K2M Group in the 2nd quarter worth approximately $405,000. Rhumbline Advisers boosted its holdings in shares of K2M Group by 7.4% in the 2nd quarter. Rhumbline Advisers now owns 39,058 shares of the medical device company’s stock worth $879,000 after purchasing an additional 2,682 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of K2M Group in the 2nd quarter worth approximately $889,000. Toth Financial Advisory Corp boosted its holdings in shares of K2M Group by 80.1% in the 2nd quarter. Toth Financial Advisory Corp now owns 40,470 shares of the medical device company’s stock worth $911,000 after purchasing an additional 18,000 shares during the period. Finally, Westwood Management Corp IL boosted its holdings in shares of K2M Group by 13.5% in the 2nd quarter. Westwood Management Corp IL now owns 42,000 shares of the medical device company’s stock worth $945,000 after purchasing an additional 5,000 shares during the period.
In related news, CFO Gregory S. Cole sold 1,480 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $20.08, for a total transaction of $29,718.40. Following the completion of the transaction, the chief financial officer now owns 65,659 shares in the company, valued at approximately $1,318,432.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gregory S. Cole sold 82,304 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $27.40, for a total value of $2,255,129.60. Following the transaction, the chief financial officer now owns 147,963 shares of the company’s stock, valued at approximately $4,054,186.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,479 shares of company stock valued at $2,298,880. 6.00% of the stock is owned by company insiders.
KTWO opened at $27.50 on Friday. K2M Group Holdings Inc has a 52-week low of $16.44 and a 52-week high of $27.50. The company has a quick ratio of 2.13, a current ratio of 3.48 and a debt-to-equity ratio of 0.51.
A number of equities analysts have recently commented on KTWO shares. Royal Bank of Canada cut K2M Group from an “outperform” rating to a “sector perform” rating in a report on Monday, September 24th. ValuEngine upgraded K2M Group from a “buy” rating to a “strong-buy” rating in a report on Monday, October 8th. Oppenheimer set a $25.00 price objective on K2M Group and gave the company a “buy” rating in a report on Thursday, August 2nd. BidaskClub cut K2M Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 27th. Finally, Needham & Company LLC cut K2M Group from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. K2M Group has an average rating of “Hold” and an average price target of $26.17.
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K2M Group Company Profile
K2M Group Holdings, Inc, a medical device company, provides spine and minimally invasive solutions in the United States and internationally. The company offers implants, disposables, and instruments primarily to hospitals for use by spine surgeons to treat spinal pathologies, such as deformity, trauma, and tumor.
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