Acadian Asset Management LLC grew its stake in shares of IntriCon Co. (NASDAQ:IIN) by 3.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 56,179 shares of the technology company’s stock after buying an additional 1,715 shares during the period. Acadian Asset Management LLC’s holdings in IntriCon were worth $3,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new stake in shares of IntriCon in the second quarter worth $226,000. Rhumbline Advisers purchased a new stake in shares of IntriCon in the second quarter worth $232,000. CAPROCK Group Inc. purchased a new stake in shares of IntriCon in the third quarter worth $251,000. JPMorgan Chase & Co. purchased a new stake in shares of IntriCon in the first quarter worth $294,000. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of IntriCon in the second quarter worth $308,000. Hedge funds and other institutional investors own 39.42% of the company’s stock.
IIN has been the topic of a number of recent analyst reports. TheStreet upgraded IntriCon from a “c+” rating to a “b” rating in a research report on Friday, August 31st. B. Riley increased their price objective on IntriCon from $62.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $65.00 price objective (up previously from $50.00) on shares of IntriCon in a research report on Thursday, July 26th. Zacks Investment Research upgraded IntriCon from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, October 24th. Finally, Dougherty & Co downgraded IntriCon from a “buy” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research report on Tuesday, September 11th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. IntriCon has an average rating of “Buy” and an average target price of $51.25.
IIN opened at $39.95 on Friday. The firm has a market capitalization of $357.12 million, a P/E ratio of 137.76, a PEG ratio of 4.68 and a beta of 0.93. The company has a current ratio of 1.56, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. IntriCon Co. has a 52 week low of $14.36 and a 52 week high of $76.80.
IntriCon (NASDAQ:IIN) last released its earnings results on Monday, November 5th. The technology company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $30.13 million for the quarter, compared to analysts’ expectations of $30.23 million. IntriCon had a return on equity of 22.73% and a net margin of 4.82%. As a group, sell-side analysts anticipate that IntriCon Co. will post 0.72 earnings per share for the current fiscal year.
In related news, Director Philip Irving Smith sold 10,000 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $74.18, for a total value of $741,800.00. Following the transaction, the director now owns 6,667 shares of the company’s stock, valued at $494,558.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.20% of the stock is owned by corporate insiders.
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IntriCon Corporation, together with its subsidiaries, designs, develops, engineers, manufactures, and distributes body-worn devices in the United States, Europe, Asia, and internationally. The company operates in two segments, Body Worn Devices and Hearing Health Direct-To-Consumer. It offers micro-miniature products, microelectronics; micro-mechanical assemblies; high-precision injection-molded plastic components; and assemblies and software solutions for medical bio-telemetry devices, hearing healthcare, and professional audio communication devices markets.
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