Glazer Capital LLC Purchases New Stake in Simulations Plus, Inc. $SLP

Glazer Capital LLC acquired a new stake in shares of Simulations Plus, Inc. (NASDAQ:SLP) during the second quarter, Holdings Channel reports. The fund acquired 201,564 shares of the technology company’s stock, valued at approximately $3,691,000.

Several other hedge funds also recently added to or reduced their stakes in SLP. First Light Asset Management LLC raised its stake in shares of Simulations Plus by 33.7% in the 1st quarter. First Light Asset Management LLC now owns 2,632,823 shares of the technology company’s stock valued at $31,120,000 after purchasing an additional 663,906 shares in the last quarter. BlackRock Inc. acquired a new position in Simulations Plus in the second quarter worth about $27,503,000. Ameriprise Financial Inc. grew its stake in Simulations Plus by 25.3% in the second quarter. Ameriprise Financial Inc. now owns 875,447 shares of the technology company’s stock worth $15,277,000 after purchasing an additional 176,747 shares in the last quarter. Marshall Wace LLP increased its holdings in Simulations Plus by 127.5% in the fourth quarter. Marshall Wace LLP now owns 569,783 shares of the technology company’s stock valued at $10,387,000 after buying an additional 319,301 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in Simulations Plus by 30.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 513,728 shares of the technology company’s stock valued at $9,365,000 after buying an additional 120,888 shares during the last quarter. 78.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on SLP. Craig Hallum cut Simulations Plus from a “buy” rating to a “hold” rating and set a $18.50 price objective on the stock. in a research note on Thursday, June 18th. Wall Street Zen lowered Simulations Plus from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded Simulations Plus from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 10th. Finally, William Blair lowered Simulations Plus from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 17th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Simulations Plus currently has a consensus rating of “Reduce” and an average price target of $17.25.

Insider Buying and Selling

In other news, Director Walter S. Woltosz sold 4,177 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $18.44, for a total transaction of $77,023.88. Following the completion of the transaction, the director directly owned 3,202,131 shares of the company’s stock, valued at approximately $59,047,295.64. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.10% of the stock is currently owned by insiders.

Simulations Plus Stock Performance

NASDAQ SLP opened at $18.42 on Friday. Simulations Plus, Inc. has a one year low of $11.09 and a one year high of $21.01. The company has a 50-day simple moving average of $18.30 and a 200-day simple moving average of $15.39. The firm has a market capitalization of $372.54 million, a PE ratio of 46.05 and a beta of 1.32.

Simulations Plus (NASDAQ:SLP) last announced its quarterly earnings data on Thursday, July 9th. The technology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $21.89 million during the quarter, compared to the consensus estimate of $20.90 million. Simulations Plus had a net margin of 9.88% and a return on equity of 13.50%.

Simulations Plus Profile

Simulations Plus, Inc (NASDAQ: SLP) specializes in advanced modeling and simulation software tailored to the pharmaceutical, biotechnology and chemical industries. The company’s flagship products include ADMET Predictor, a quantitative structure-activity relationship (QSAR) tool for predicting absorption, distribution, metabolism, excretion and toxicity properties, and GastroPlus, a physiologically based pharmacokinetic (PBPK) modeling platform for simulating drug absorption and pharmacokinetics.