Hurco Companies, Inc. (NASDAQ:HURC) Sees Significant Decrease in Short Interest

Hurco Companies, Inc. (NASDAQ:HURC) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 11,400 shares, a decline of 9.5% from the February 29th total of 12,600 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 25,500 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Hurco Companies

A number of institutional investors have recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC lifted its stake in shares of Hurco Companies by 18.6% in the third quarter. Pacific Ridge Capital Partners LLC now owns 193,859 shares of the scientific and technical instruments company’s stock worth $4,348,000 after acquiring an additional 30,427 shares during the period. Ameriprise Financial Inc. raised its holdings in Hurco Companies by 25.4% during the 1st quarter. Ameriprise Financial Inc. now owns 307,622 shares of the scientific and technical instruments company’s stock worth $7,789,000 after purchasing an additional 62,353 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in Hurco Companies by 27.2% in the second quarter. Kennedy Capital Management LLC now owns 74,340 shares of the scientific and technical instruments company’s stock valued at $1,609,000 after buying an additional 15,902 shares during the period. Geode Capital Management LLC boosted its position in shares of Hurco Companies by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 58,120 shares of the scientific and technical instruments company’s stock valued at $1,472,000 after purchasing an additional 1,878 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Hurco Companies by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 31,213 shares of the scientific and technical instruments company’s stock worth $984,000 after purchasing an additional 858 shares during the period. Institutional investors own 74.36% of the company’s stock.

Hurco Companies Price Performance

Shares of NASDAQ HURC opened at $19.96 on Tuesday. Hurco Companies has a 1 year low of $19.29 and a 1 year high of $28.20. The firm has a market cap of $129.94 million, a PE ratio of 95.05 and a beta of 0.42. The company has a 50 day simple moving average of $23.55 and a 200 day simple moving average of $22.09.

Hurco Companies (NASDAQ:HURC) last released its quarterly earnings results on Friday, March 8th. The scientific and technical instruments company reported ($0.25) earnings per share (EPS) for the quarter. Hurco Companies had a net margin of 0.65% and a return on equity of 0.63%. The business had revenue of $45.06 million for the quarter.

Hurco Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, March 27th. Hurco Companies’s payout ratio is presently 304.76%.

Analysts Set New Price Targets

HURC has been the subject of several research reports. TheStreet raised shares of Hurco Companies from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. StockNews.com cut Hurco Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th.

Hurco Companies Company Profile

Hurco Companies, Inc, an industrial technology company, designs, manufactures, and sells computerized machine tools to companies in the metal cutting industry worldwide. Its principal products include general-purpose computerized machine tools, including vertical and horizontal machining centers, turning centers, and toolroom machines.