Allot Ltd. $ALLT Shares Purchased by Penbrook Management LLC

Penbrook Management LLC grew its stake in shares of Allot Ltd. (NASDAQ:ALLT) by 37.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 377,395 shares of the communications equipment provider’s stock after purchasing an additional 102,100 shares during the quarter. Allot comprises about 1.9% of Penbrook Management LLC’s portfolio, making the stock its 9th biggest holding. Penbrook Management LLC owned about 0.77% of Allot worth $3,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kanen Wealth Management LLC boosted its holdings in shares of Allot by 1.1% in the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after buying an additional 51,029 shares during the last quarter. Sei Investments Co. increased its holdings in Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after buying an additional 461,175 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Allot during the first quarter worth $1,208,000. Silverberg Bernstein Capital Management LLC raised its position in Allot by 5.7% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock worth $1,165,000 after acquiring an additional 9,450 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in Allot by 24.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock worth $857,000 after acquiring an additional 19,013 shares in the last quarter. Institutional investors own 51.50% of the company’s stock.

Insiders Place Their Bets

In other Allot news, insider Gili Groner sold 26,666 shares of Allot stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $7.86, for a total transaction of $209,594.76. Following the completion of the transaction, the insider directly owned 59,467 shares of the company’s stock, valued at $467,410.62. The trade was a 30.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Boaz Grossman sold 6,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $7.45, for a total transaction of $44,700.00. Following the completion of the transaction, the senior vice president owned 186,000 shares in the company, valued at approximately $1,385,700. This represents a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,333 shares of company stock valued at $512,240 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research note on Tuesday, September 22nd. Northland Securities set a $17.00 target price on shares of Allot in a report on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Allot Stock Down 0.1%

ALLT opened at $9.03 on Friday. Allot Ltd. has a 12-month low of $6.12 and a 12-month high of $11.92. The stock has a market cap of $445.18 million, a price-to-earnings ratio of 41.05 and a beta of 1.48. The business has a 50 day moving average of $8.04 and a 200-day moving average of $7.76.

Allot (NASDAQ:ALLT) last issued its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. Allot had a return on equity of 9.64% and a net margin of 9.40%. The company had revenue of $27.74 million during the quarter, compared to the consensus estimate of $27.45 million. As a group, analysts expect that Allot Ltd. will post 0.23 earnings per share for the current year.

Allot announced that its Board of Directors has approved a stock repurchase program on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Share buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Allot Company Profile

Allot Ltd. is a telecommunications technology company that provides network intelligence, traffic management and cybersecurity solutions to communications service providers. Its software and hardware help operators monitor network traffic, analyze subscriber and application usage, optimize performance and manage service quality across fixed, mobile and broadband networks.

The company’s portfolio has included network visibility and analytics tools, policy and traffic-management platforms, and security products designed to help detect and mitigate threats such as distributed denial-of-service attacks.