CM Management LLC Increases Stake in inTEST Co. (NYSE:INTT)

CM Management LLC raised its stake in inTEST Co. (NYSE:INTT) by 37.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 309,000 shares of the company’s stock after acquiring an additional 84,000 shares during the period. inTEST accounts for about 2.7% of CM Management LLC’s holdings, making the stock its 10th biggest holding. CM Management LLC’s holdings in inTEST were worth $3,053,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. First Eagle Investment Management LLC increased its holdings in inTEST by 24.2% during the fourth quarter. First Eagle Investment Management LLC now owns 447,197 shares of the company’s stock worth $6,082,000 after buying an additional 87,249 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of inTEST by 141.8% in the fourth quarter. BNP Paribas Financial Markets now owns 23,703 shares of the company’s stock worth $322,000 after acquiring an additional 13,900 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of inTEST by 21.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,153 shares of the company’s stock valued at $188,000 after buying an additional 2,476 shares during the period. Pacific Ridge Capital Partners LLC increased its stake in shares of inTEST by 56.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 356,042 shares of the company’s stock valued at $4,842,000 after buying an additional 128,082 shares during the period. Finally, Vanguard Group Inc. increased its position in inTEST by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 816,735 shares of the company’s stock valued at $10,822,000 after purchasing an additional 13,722 shares during the period. Institutional investors own 63.18% of the company’s stock.

Insider Activity at inTEST

In other news, CEO Richard N. Jr. Grant sold 6,788 shares of inTEST stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $6.97, for a total value of $47,312.36. Following the completion of the transaction, the chief executive officer now owns 164,929 shares in the company, valued at approximately $1,149,555.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTT. Northland Securities downgraded shares of inTEST from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $15.00 to $10.00 in a research report on Monday, August 5th. Lake Street Capital dropped their price objective on inTEST from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, Northland Capmk lowered inTEST from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.00.

inTEST Trading Down 2.1 %

Shares of inTEST stock traded down $0.15 during midday trading on Tuesday, reaching $7.01. 813 shares of the company’s stock traded hands, compared to its average volume of 111,080. The stock has a 50 day moving average of $9.05 and a 200-day moving average of $10.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.46 and a current ratio of 2.24. The company has a market cap of $87.55 million, a PE ratio of 11.02 and a beta of 1.96. inTEST Co. has a 12 month low of $6.28 and a 12 month high of $17.60.

inTEST (NYSE:INTT) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). The business had revenue of $33.99 million for the quarter, compared to analysts’ expectations of $34.80 million. inTEST had a net margin of 4.27% and a return on equity of 7.64%. As a group, equities analysts expect that inTEST Co. will post 0.35 EPS for the current fiscal year.

inTEST Profile

inTEST Corporation provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through three segments: Electronic Test, Environmental Technologies, and Process Technologies.