Two Sigma Investments LP acquired a new stake in Control4 (NASDAQ:CTRL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,995 shares of the electronics maker’s stock, valued at approximately $268,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in Control4 by 2.9% in the 4th quarter. BlackRock Inc. now owns 2,844,620 shares of the electronics maker’s stock valued at $84,656,000 after buying an additional 79,907 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Control4 by 37.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,355,094 shares of the electronics maker’s stock worth $40,328,000 after purchasing an additional 369,236 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Control4 by 14.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 915,412 shares of the electronics maker’s stock worth $26,968,000 after purchasing an additional 112,555 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Control4 by 1,275.0% during the 4th quarter. Allianz Asset Management GmbH now owns 314,865 shares of the electronics maker’s stock worth $9,370,000 after purchasing an additional 291,965 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in Control4 by 258.5% during the 4th quarter. Penserra Capital Management LLC now owns 309,644 shares of the electronics maker’s stock worth $9,215,000 after purchasing an additional 223,267 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.
Several research analysts have issued reports on CTRL shares. Dougherty & Co restated a “neutral” rating on shares of Control4 in a report on Monday, February 12th. BidaskClub lowered shares of Control4 from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Raymond James restated an “outperform” rating and set a $30.00 price target on shares of Control4 in a report on Monday, March 19th. Cowen restated a “buy” rating on shares of Control4 in a report on Tuesday, January 9th. Finally, Zacks Investment Research lowered shares of Control4 from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.29.
Control4 (NASDAQ:CTRL) last released its quarterly earnings data on Thursday, February 8th. The electronics maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $68.34 million during the quarter, compared to analyst estimates of $67.21 million. Control4 had a net margin of 6.53% and a return on equity of 12.74%. Control4’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. sell-side analysts forecast that Control4 will post 0.81 earnings per share for the current year.
Control4 announced that its board has authorized a stock repurchase plan on Thursday, February 8th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the electronics maker to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, CEO Martin Plaehn sold 41,585 shares of Control4 stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $24.51, for a total value of $1,019,248.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Greg Bishop sold 2,178 shares of Control4 stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.58, for a total transaction of $55,713.24. Following the completion of the sale, the insider now owns 15,962 shares of the company’s stock, valued at approximately $408,307.96. The disclosure for this sale can be found here. Insiders sold a total of 158,377 shares of company stock valued at $3,904,668 in the last quarter. 6.10% of the stock is currently owned by company insiders.
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Control4 Company Profile
Control4 Corporation (Control4) is a provider of smart home and business solutions. The Company’s smart home and small business solutions provide consumers with the ability to integrate audio, video, lighting, temperature, security, communications, network management and other functionalities into a unified automation solution, customized to match their lifestyles and business needs.
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