Cortina Asset Management LLC grew its stake in shares of Cray Inc. (NASDAQ:CRAY) by 12.8% in the 4th quarter, HoldingsChannel reports. The fund owned 426,210 shares of the technology company’s stock after acquiring an additional 48,468 shares during the period. Cortina Asset Management LLC’s holdings in Cray were worth $10,314,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of Cray during the third quarter valued at approximately $101,000. SG Americas Securities LLC bought a new stake in shares of Cray during the third quarter valued at approximately $124,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Cray by 57.2% during the third quarter. Municipal Employees Retirement System of Michigan now owns 15,120 shares of the technology company’s stock valued at $294,000 after acquiring an additional 5,500 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Cray during the fourth quarter valued at approximately $331,000. Finally, Levin Capital Strategies L.P. raised its stake in shares of Cray by 31.1% during the fourth quarter. Levin Capital Strategies L.P. now owns 15,082 shares of the technology company’s stock valued at $365,000 after acquiring an additional 3,580 shares in the last quarter. 96.32% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. BidaskClub downgraded shares of Cray from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. TheStreet raised shares of Cray from a “d+” rating to a “c-” rating in a research note on Monday, November 27th. ValuEngine raised shares of Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Wells Fargo & Co assumed coverage on shares of Cray in a research note on Tuesday, November 14th. They set an “outperform” rating and a $26.00 price target for the company. Finally, KeyCorp reaffirmed a “buy” rating and set a $31.00 price target on shares of Cray in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.80.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Thursday, February 15th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $166.60 million for the quarter, compared to analyst estimates of $164.03 million. Cray had a negative net margin of 34.10% and a negative return on equity of 8.51%. Cray’s revenue was down 51.9% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. equities analysts expect that Cray Inc. will post -0.82 earnings per share for the current year.
In related news, SVP Michael Charles Piraino sold 1,100 shares of Cray stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $23.00, for a total transaction of $25,300.00. Following the transaction, the senior vice president now directly owns 43,484 shares of the company’s stock, valued at $1,000,132. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter J. Ungaro sold 80,000 shares of Cray stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $22.14, for a total transaction of $1,771,200.00. Following the transaction, the chief executive officer now directly owns 342,207 shares in the company, valued at $7,576,462.98. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
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Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.
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