Hillsdale Investment Management Inc. Makes New Investment in Allient Inc. $ALNT

Hillsdale Investment Management Inc. bought a new stake in Allient Inc. (NASDAQ:ALNT) in the third quarter, HoldingsChannel reports. The fund bought 148,740 shares of the company’s stock, valued at approximately $6,656,000.

Several other hedge funds have also modified their holdings of the stock. Cullen Frost Bankers Inc. lifted its position in Allient by 173.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after acquiring an additional 633 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Allient during the third quarter valued at approximately $41,000. New York State Teachers Retirement System acquired a new position in shares of Allient during the third quarter worth $58,000. Tower Research Capital LLC TRC boosted its stake in shares of Allient by 162.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after purchasing an additional 1,355 shares during the period. Finally, AlphaQuest LLC acquired a new stake in Allient during the 3rd quarter valued at $88,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

Allient Price Performance

ALNT opened at $68.37 on Friday. The company has a market capitalization of $1.16 billion, a P/E ratio of 61.04 and a beta of 1.53. The company has a 50-day moving average of $60.43 and a 200-day moving average of $52.93. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. Allient Inc. has a 1-year low of $19.25 and a 1-year high of $70.00.

Analysts Set New Price Targets

A number of brokerages have commented on ALNT. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Zacks Research lowered Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Roth Mkm boosted their price target on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Lake Street Capital started coverage on Allient in a report on Wednesday. They issued a “buy” rating and a $79.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.50.

Insiders Place Their Bets

In other Allient news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total transaction of $836,000.00. Following the sale, the vice president owned 23,166 shares in the company, valued at $1,210,423.50. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 15.60% of the stock is currently owned by corporate insiders.

About Allient

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.