Meros Investment Management LP Makes New Investment in Hurco Companies, Inc. $HURC

Meros Investment Management LP purchased a new stake in Hurco Companies, Inc. (NASDAQ:HURC) during the second quarter, HoldingsChannel.com reports. The fund purchased 211,318 shares of the scientific and technical instruments company’s stock, valued at approximately $4,838,126,000. Hurco Companies makes up approximately 1.5% of Meros Investment Management LP’s portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State of Wyoming bought a new stake in shares of Hurco Companies during the second quarter worth $199,000. Hsbc Holdings PLC bought a new stake in Hurco Companies in the 2nd quarter valued at $357,000. GSA Capital Partners LLP acquired a new position in Hurco Companies in the 2nd quarter worth $499,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Hurco Companies in the 2nd quarter worth $511,000. Finally, Bank of New York Mellon Corp bought a new position in Hurco Companies during the 2nd quarter worth about $561,000. Institutional investors and hedge funds own 74.36% of the company’s stock.

Hurco Companies Stock Up 0.2%

Shares of HURC opened at $22.69 on Wednesday. Hurco Companies, Inc. has a twelve month low of $14.50 and a twelve month high of $23.75. The stock has a market capitalization of $147.03 million, a P/E ratio of -11.58 and a beta of 0.70. The company has a 50 day moving average of $22.12 and a 200-day moving average of $18.71.

Hurco Companies (NASDAQ:HURC) last announced its quarterly earnings data on Friday, June 5th. The scientific and technical instruments company reported ($0.37) EPS for the quarter. Hurco Companies had a negative return on equity of 6.37% and a negative net margin of 6.92%.The business had revenue of $47.62 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.