Spark Investment Management LLC lowered its position in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 59.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,000 shares of the communications equipment provider’s stock after selling 16,000 shares during the period. Spark Investment Management LLC’s holdings in Sierra Wireless were worth $291,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWIR. Quantbot Technologies LP bought a new stake in shares of Sierra Wireless during the first quarter valued at about $147,000. American Century Companies Inc. acquired a new stake in Sierra Wireless during the first quarter valued at approximately $267,000. Bayesian Capital Management LP acquired a new stake in Sierra Wireless during the fourth quarter valued at approximately $173,000. NEXT Financial Group Inc boosted its position in shares of Sierra Wireless by 21.6% in the first quarter. NEXT Financial Group Inc now owns 11,362 shares of the communications equipment provider’s stock valued at $287,000 after buying an additional 2,015 shares during the period. Finally, Scotia Capital Inc. purchased a new position in shares of Sierra Wireless during the fourth quarter valued at about $178,000. 24.37% of the stock is currently owned by institutional investors.
Sierra Wireless, Inc. (NASDAQ:SWIR) traded up 1.3159% on Friday, reaching $29.2803. The company’s stock had a trading volume of 123,367 shares. The firm’s 50 day moving average is $28.00 and its 200-day moving average is $23.73. The firm has a market cap of $934.48 million, a P/E ratio of 64.7794 and a beta of 2.96. Sierra Wireless, Inc. has a 12 month low of $12.30 and a 12 month high of $31.95.
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A number of equities analysts recently issued reports on the company. Vetr cut Sierra Wireless from a “strong-buy” rating to a “buy” rating and set a $33.45 target price on the stock. in a report on Thursday, March 23rd. Zacks Investment Research raised Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, May 11th. TheStreet cut Sierra Wireless from a “b-” rating to a “c” rating in a research report on Thursday, May 4th. Benchmark Co. initiated coverage on Sierra Wireless in a research report on Tuesday, April 25th. They set a “hold” rating for the company. They noted that the move was a valuation call. Finally, BMO Capital Markets set a $30.00 price target on Sierra Wireless and gave the stock a “hold” rating in a research report on Saturday, May 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.22.
Sierra Wireless Company Profile
Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.
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