Kornitzer Capital Management Inc. KS raised its position in Intersect ENT Inc. (NASDAQ:XENT) by 32.7% during the second quarter, Holdings Channel reports. The firm owned 169,100 shares of the company’s stock after buying an additional 41,700 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Intersect ENT were worth $2,186,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in shares of Intersect ENT during the second quarter worth approximately $142,000. Bellevue Group AG purchased a new position in shares of Intersect ENT during the first quarter worth approximately $3,976,000. Finally, Granahan Investment Management Inc. MA raised its position in shares of Intersect ENT by 28.0% in the first quarter. Granahan Investment Management Inc. MA now owns 549,321 shares of the company’s stock worth $10,437,000 after buying an additional 120,286 shares during the last quarter. Institutional investors and hedge funds own 77.81% of the company’s stock.
Shares of Intersect ENT Inc. (NASDAQ:XENT) traded down 3.77% during mid-day trading on Wednesday, reaching $16.60. The company had a trading volume of 194,742 shares. Intersect ENT Inc. has a one year low of $11.88 and a one year high of $23.00. The stock has a 50 day moving average of $15.80 and a 200-day moving average of $15.43. The firm’s market capitalization is $472.34 million.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.05. Intersect ENT had a negative net margin of 42.97% and a negative return on equity of 23.31%. The business earned $19.30 million during the quarter, compared to the consensus estimate of $18.91 million. During the same period in the previous year, the business earned ($0.23) earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. Equities analysts predict that Intersect ENT Inc. will post ($0.96) EPS for the current year.
XENT has been the topic of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating on shares of Intersect ENT in a research report on Monday, July 18th. Zacks Investment Research upgraded Intersect ENT from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Saturday, August 6th. Deutsche Bank AG set a $17.00 price objective on Intersect ENT and gave the company a “hold” rating in a research report on Tuesday. BTIG Research reiterated a “hold” rating and issued a $14.00 price objective on shares of Intersect ENT in a research report on Thursday, August 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Intersect ENT in a research report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $22.00.
In other Intersect ENT news, VP James Stambaugh sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $16.00, for a total transaction of $64,000.00. Following the completion of the transaction, the vice president now directly owns 23,700 shares in the company, valued at $379,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Amy Wolbeck sold 28,664 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $15.83, for a total transaction of $453,751.12. Following the transaction, the vice president now owns 18,076 shares of the company’s stock, valued at $286,143.08. The disclosure for this sale can be found here. Company insiders own 13.90% of the company’s stock.
About Intersect ENT
Intersect ENT, Inc is a commercial stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. It has developed a drug releasing bio-absorbable implant technology that enables targeted and sustained release of therapeutic agents. Its commercial products are the PROPEL and PROPEL mini drug-releasing implants for patients undergoing sinus surgery to treat chronic sinusitis.
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