AIGH Capital Management LLC Buys New Shares in Allient Inc. $ALNT

AIGH Capital Management LLC bought a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the 2nd quarter, Holdings Channel reports. The firm bought 200,000 shares of the company’s stock, valued at approximately $7,262,000. Allient accounts for approximately 3.3% of AIGH Capital Management LLC’s holdings, making the stock its 14th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of ALNT. GAMMA Investing LLC purchased a new position in Allient during the first quarter valued at $60,000. Allspring Global Investments Holdings LLC lifted its position in Allient by 8.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 442,335 shares of the company’s stock valued at $9,731,000 after purchasing an additional 36,142 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Allient by 26.7% during the first quarter. Envestnet Asset Management Inc. now owns 104,988 shares of the company’s stock valued at $2,308,000 after purchasing an additional 22,098 shares in the last quarter. CWM LLC lifted its position in Allient by 105.2% during the first quarter. CWM LLC now owns 1,890 shares of the company’s stock valued at $42,000 after purchasing an additional 969 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Allient by 37.6% during the first quarter. Pinnacle Associates Ltd. now owns 327,132 shares of the company’s stock valued at $7,190,000 after purchasing an additional 89,463 shares in the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

Allient Price Performance

NASDAQ:ALNT opened at $49.25 on Monday. The company has a quick ratio of 2.17, a current ratio of 3.74 and a debt-to-equity ratio of 0.70. The business’s 50-day simple moving average is $45.75 and its two-hundred day simple moving average is $36.47. The stock has a market cap of $834.79 million, a PE ratio of 57.27 and a beta of 1.51. Allient Inc. has a 52 week low of $16.91 and a 52 week high of $53.62.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The business had revenue of $139.58 million for the quarter, compared to analysts’ expectations of $132.89 million. Allient had a return on equity of 9.97% and a net margin of 2.75%. As a group, analysts forecast that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, August 21st. Allient’s payout ratio is 13.95%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Allient currently has an average rating of “Hold” and a consensus price target of $35.00.

Allient Profile

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.