Acadian Asset Management LLC Has $3.35 Million Position in FARO Technologies, Inc. (NASDAQ:FARO)

Acadian Asset Management LLC lifted its stake in FARO Technologies, Inc. (NASDAQ:FARO) by 23.5% during the second quarter, HoldingsChannel reports. The fund owned 209,787 shares of the scientific and technical instruments company’s stock after purchasing an additional 39,905 shares during the quarter. Acadian Asset Management LLC’s holdings in FARO Technologies were worth $3,354,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FARO. Price T Rowe Associates Inc. MD grew its stake in FARO Technologies by 3.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,806 shares of the scientific and technical instruments company’s stock valued at $642,000 after purchasing an additional 897 shares in the last quarter. CWM LLC grew its stake in shares of FARO Technologies by 343.6% in the 2nd quarter. CWM LLC now owns 2,360 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 1,828 shares in the last quarter. King Luther Capital Management Corp increased its holdings in FARO Technologies by 3.9% in the fourth quarter. King Luther Capital Management Corp now owns 80,000 shares of the scientific and technical instruments company’s stock worth $1,802,000 after buying an additional 3,000 shares during the last quarter. Bank of New York Mellon Corp raised its position in FARO Technologies by 5.8% during the second quarter. Bank of New York Mellon Corp now owns 76,337 shares of the scientific and technical instruments company’s stock valued at $1,221,000 after acquiring an additional 4,174 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in FARO Technologies by 8.4% during the first quarter. BNP Paribas Financial Markets now owns 65,061 shares of the scientific and technical instruments company’s stock valued at $1,399,000 after acquiring an additional 5,035 shares in the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

FARO Technologies Stock Up 0.5 %

Shares of FARO stock opened at $17.41 on Friday. The stock’s 50 day simple moving average is $16.62 and its 200 day simple moving average is $18.27. FARO Technologies, Inc. has a twelve month low of $12.34 and a twelve month high of $24.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.01 and a current ratio of 2.33. The company has a market capitalization of $334.38 million, a price-to-earnings ratio of -7.74 and a beta of 1.25.

FARO Technologies (NASDAQ:FARO) last issued its quarterly earnings data on Thursday, August 8th. The scientific and technical instruments company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. The business had revenue of $82.09 million during the quarter. FARO Technologies had a negative net margin of 4.25% and a negative return on equity of 5.72%.

Insider Activity

In related news, CEO Peter James Lau sold 5,435 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $16.67, for a total transaction of $90,601.45. Following the completion of the transaction, the chief executive officer now owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other FARO Technologies news, CEO Peter James Lau sold 5,435 shares of FARO Technologies stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $16.67, for a total value of $90,601.45. Following the transaction, the chief executive officer now directly owns 133,975 shares of the company’s stock, valued at approximately $2,233,363.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Yuval Wasserman sold 10,149 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $16.52, for a total value of $167,661.48. Following the completion of the sale, the director now directly owns 183,476 shares of the company’s stock, valued at $3,031,023.52. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Craig Hallum dropped their price target on shares of FARO Technologies from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC lowered their target price on shares of FARO Technologies from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

FARO Technologies Company 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.