Hillsdale Investment Management Inc. Acquires New Stake in FARO Technologies, Inc. (NASDAQ:FARO)

Hillsdale Investment Management Inc. bought a new stake in FARO Technologies, Inc. (NASDAQ:FARO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 140,452 shares of the scientific and technical instruments company’s stock, valued at approximately $3,562,000. Hillsdale Investment Management Inc. owned about 0.74% of FARO Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FARO. SG Americas Securities LLC raised its position in shares of FARO Technologies by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 8,345 shares of the scientific and technical instruments company’s stock valued at $212,000 after buying an additional 966 shares during the last quarter. Rhumbline Advisers raised its holdings in FARO Technologies by 4.5% in the 4th quarter. Rhumbline Advisers now owns 31,279 shares of the scientific and technical instruments company’s stock valued at $793,000 after acquiring an additional 1,333 shares during the last quarter. Polar Asset Management Partners Inc. raised its holdings in FARO Technologies by 0.4% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 676,796 shares of the scientific and technical instruments company’s stock valued at $12,954,000 after acquiring an additional 2,700 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of FARO Technologies by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 65,722 shares of the scientific and technical instruments company’s stock worth $1,667,000 after purchasing an additional 3,373 shares during the last quarter. Finally, Globeflex Capital L P boosted its holdings in shares of FARO Technologies by 8.4% during the fourth quarter. Globeflex Capital L P now owns 55,591 shares of the scientific and technical instruments company’s stock worth $1,410,000 after purchasing an additional 4,300 shares during the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on FARO shares. Needham & Company LLC increased their target price on FARO Technologies from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Craig Hallum increased their price objective on shares of FARO Technologies from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com downgraded shares of FARO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 16th.

Insider Transactions at FARO Technologies

In related news, Director Yuval Wasserman sold 5,658 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $31.35, for a total transaction of $177,378.30. Following the completion of the sale, the director now directly owns 153,512 shares of the company’s stock, valued at approximately $4,812,601.20. This represents a 3.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Horwath sold 1,480 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $29.30, for a total value of $43,364.00. Following the completion of the sale, the chief financial officer now owns 39,430 shares of the company’s stock, valued at approximately $1,155,299. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,755 shares of company stock valued at $356,020 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

FARO Technologies Price Performance

FARO stock opened at $28.21 on Friday. The company has a market cap of $535.48 million, a PE ratio of -80.60 and a beta of 1.55. The company has a current ratio of 2.17, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $29.86 and a two-hundred day moving average price of $24.87. FARO Technologies, Inc. has a 12-month low of $13.52 and a 12-month high of $33.13.

FARO Technologies (NASDAQ:FARO) last released its quarterly earnings data on Monday, February 24th. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. FARO Technologies had a negative return on equity of 2.49% and a negative net margin of 1.87%. The business had revenue of $93.54 million for the quarter, compared to analyst estimates of $91.40 million. During the same period in the previous year, the company posted $0.36 EPS.

FARO Technologies Profile

FARO Technologies, Inc designs, develops, manufactures, markets, and supports software driven three-dimensional measurement, imaging, and realization solutions worldwide. The company offers FaroArm, a combination of a portable articulated measurement arm, a computer, and CAM2 software programs; FARO Laser Tracker, a combination of a portable large-volume laser measurement tool, a computer, and CAM2 software programs; FARO Laser Projector, which provides a virtual template that operators and assemblers can use to position components; FARO Laser Scanning Portfolio to measure and collect a cloud of data points for 3D rendering of an object or area; and FARO Mobile Laser Portfolio provides 3D scanning while attached to other mobile devices, such as drones for metrology, reverse engineering, factory automation, building information modeling, public safety, and other applications.