Alps Advisors Inc. increased its holdings in AlarmCom Hldg Inc (NASDAQ:ALRM) by 169.2% in the third quarter, HoldingsChannel.com reports. The firm owned 17,608 shares of the software maker’s stock after buying an additional 11,066 shares during the quarter. Alps Advisors Inc.’s holdings in AlarmCom were worth $1,011,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in AlarmCom by 583.3% during the 2nd quarter. Macquarie Group Ltd. now owns 4,100 shares of the software maker’s stock worth $166,000 after buying an additional 3,500 shares in the last quarter. Amalgamated Bank purchased a new stake in AlarmCom during the 2nd quarter worth approximately $200,000. Commonwealth Equity Services LLC purchased a new stake in AlarmCom during the 1st quarter worth approximately $206,000. Nwam LLC purchased a new stake in AlarmCom during the 3rd quarter worth approximately $207,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in AlarmCom during the 2nd quarter worth approximately $214,000. 96.83% of the stock is owned by institutional investors.
Several research firms have commented on ALRM. Bank of America upgraded AlarmCom to a “buy” rating and boosted their price objective for the stock from $55.00 to $65.00 in a research note on Friday, September 14th. Imperial Capital reiterated an “in-line” rating and set a $60.00 price objective (up from $45.00) on shares of AlarmCom in a research note on Thursday, August 23rd. Credit Suisse Group restated an “outperform” rating on shares of AlarmCom in a research report on Friday, August 17th. Maxim Group upped their price target on AlarmCom from $59.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Finally, Zacks Investment Research upgraded AlarmCom from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $53.75.
In related news, Director Hugh Panero sold 1,115 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $56.75, for a total value of $63,276.25. Following the completion of the transaction, the director now directly owns 4,835 shares in the company, valued at $274,386.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Kerzner sold 10,000 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $54.01, for a total value of $540,100.00. Following the completion of the transaction, the insider now owns 33,969 shares of the company’s stock, valued at $1,834,665.69. The disclosure for this sale can be found here. Insiders sold 324,245 shares of company stock valued at $17,998,456 over the last quarter. 37.10% of the stock is currently owned by company insiders.
ALRM stock opened at $45.43 on Friday. The company has a market capitalization of $2.07 billion, a PE ratio of 59.78, a P/E/G ratio of 2.53 and a beta of 1.33. AlarmCom Hldg Inc has a 1 year low of $33.39 and a 1 year high of $60.20.
AlarmCom (NASDAQ:ALRM) last posted its quarterly earnings results on Tuesday, August 7th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The business had revenue of $104.49 million during the quarter, compared to analyst estimates of $94.72 million. AlarmCom had a negative return on equity of 64.90% and a net margin of 9.75%. As a group, sell-side analysts predict that AlarmCom Hldg Inc will post 1.01 EPS for the current fiscal year.
Alarm.com Holdings, Inc provides cloud-based software platform solutions for smart residential and commercial properties in the United States and internationally. The company provides interactive security solutions to control and monitor their security systems, as well as connected security devices, including door locks, motion sensors, thermostats, garage doors, and video cameras; and high definition video monitoring solutions, such as live streaming, smart clip capture, secure cloud storage, video alerts, continuous HD recording, and commercial video surveillance solutions.
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