TIAA CREF Investment Management LLC lowered its position in shares of IntriCon Co. (NASDAQ:IIN) by 5.7% in the third quarter, Holdings Channel reports. The institutional investor owned 20,888 shares of the technology company’s stock after selling 1,270 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in IntriCon were worth $1,174,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc lifted its position in IntriCon by 66.1% in the third quarter. Vanguard Group Inc now owns 467,907 shares of the technology company’s stock valued at $26,296,000 after acquiring an additional 186,222 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in IntriCon in the third quarter valued at $5,613,000. Vanguard Group Inc. lifted its position in IntriCon by 66.1% in the third quarter. Vanguard Group Inc. now owns 467,907 shares of the technology company’s stock valued at $26,296,000 after acquiring an additional 186,222 shares during the last quarter. Morgan Stanley increased its stake in IntriCon by 31.0% in the third quarter. Morgan Stanley now owns 59,967 shares of the technology company’s stock valued at $3,371,000 after purchasing an additional 14,178 shares during the period. Finally, Teachers Advisors LLC increased its stake in IntriCon by 90.2% in the third quarter. Teachers Advisors LLC now owns 22,388 shares of the technology company’s stock valued at $1,258,000 after purchasing an additional 10,617 shares during the period. Institutional investors and hedge funds own 59.83% of the company’s stock.
In other news, VP Greg Gruenhagen sold 1,500 shares of the business’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $25.37, for a total transaction of $38,055.00. Following the transaction, the vice president now directly owns 2,455 shares in the company, valued at $62,283.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 21.20% of the company’s stock.
Shares of IntriCon stock traded down $0.47 on Monday, reaching $25.01. 1,873 shares of the stock were exchanged, compared to its average volume of 111,571. IntriCon Co. has a 1-year low of $17.05 and a 1-year high of $76.80. The firm has a market cap of $221.62 million, a price-to-earnings ratio of 88.45, a price-to-earnings-growth ratio of 2.82 and a beta of 1.24.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of IntriCon from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, October 24th. BidaskClub lowered shares of IntriCon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 13th. ValuEngine lowered shares of IntriCon from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 7th. Stifel Nicolaus dropped their price objective on shares of IntriCon from $70.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, January 4th. Finally, Dougherty & Co upgraded shares of IntriCon from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Thursday, January 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.25.
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IntriCon Corporation, together with its subsidiaries, designs, develops, engineers, manufactures, and distributes body-worn devices in the United States, Europe, Asia, and internationally. The company operates in two segments, Body Worn Devices and Hearing Health Direct-To-Consumer. It offers micro-miniature products, microelectronics; micro-mechanical assemblies; high-precision injection-molded plastic components; and assemblies and software solutions for medical bio-telemetry devices, hearing healthcare, and professional audio communication devices markets.
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