Invenomic Capital Management LP Cuts Stock Holdings in FARO Technologies, Inc. (NASDAQ:FARO)

Invenomic Capital Management LP cut its stake in shares of FARO Technologies, Inc. (NASDAQ:FARO) by 13.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 341,970 shares of the scientific and technical instruments company’s stock after selling 54,860 shares during the quarter. Invenomic Capital Management LP’s holdings in FARO Technologies were worth $8,672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in FARO Technologies by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after acquiring an additional 966 shares during the last quarter. Quarry LP acquired a new position in shares of FARO Technologies in the 4th quarter valued at about $25,000. Price T Rowe Associates Inc. MD grew its holdings in shares of FARO Technologies by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,129 shares of the scientific and technical instruments company’s stock worth $942,000 after purchasing an additional 1,314 shares during the period. Rhumbline Advisers increased its position in FARO Technologies by 4.5% during the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock worth $793,000 after purchasing an additional 1,333 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in FARO Technologies during the 4th quarter worth approximately $55,000. 97.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other FARO Technologies news, CEO Peter James Lau sold 4,617 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total value of $135,278.10. Following the transaction, the chief executive officer now directly owns 160,076 shares of the company’s stock, valued at $4,690,226.80. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew Horwath sold 1,480 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $29.30, for a total transaction of $43,364.00. Following the sale, the chief financial officer now directly owns 39,430 shares of the company’s stock, valued at $1,155,299. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

FARO Technologies Stock Up 0.3 %

Shares of NASDAQ:FARO opened at $42.31 on Friday. The company has a market capitalization of $813.45 million, a price-to-earnings ratio of -120.88 and a beta of 1.49. The company has a 50 day moving average of $28.69 and a two-hundred day moving average of $27.56. FARO Technologies, Inc. has a 52-week low of $13.52 and a 52-week high of $42.50. The company has a quick ratio of 1.83, a current ratio of 2.17 and a debt-to-equity ratio of 0.27.

FARO Technologies (NASDAQ:FARO) last announced its earnings results on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative net margin of 1.87% and a negative return on equity of 2.49%. The business had revenue of $93.54 million during the quarter, compared to the consensus estimate of $91.40 million. During the same period in the prior year, the firm earned $0.36 earnings per share.

Analyst Ratings Changes

Several equities research analysts have issued reports on FARO shares. Craig Hallum downgraded shares of FARO Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. StockNews.com cut shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 16th. Finally, Needham & Company LLC lowered FARO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday.

FARO Technologies Company Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.