Algert Global LLC Trims Stake in Arotech Co. (ARTX)

Algert Global LLC trimmed its position in Arotech Co. (NASDAQ:ARTX) by 36.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,445 shares of the aerospace company’s stock after selling 34,964 shares during the quarter. Algert Global LLC owned about 0.23% of Arotech worth $161,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its stake in Arotech by 1,124.3% during the second quarter. Millennium Management LLC now owns 469,163 shares of the aerospace company’s stock worth $1,759,000 after acquiring an additional 430,842 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Arotech by 8.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,866,057 shares of the aerospace company’s stock worth $6,345,000 after acquiring an additional 139,043 shares during the last quarter. B. Riley Financial Inc. increased its stake in Arotech by 44.4% during the third quarter. B. Riley Financial Inc. now owns 154,067 shares of the aerospace company’s stock worth $524,000 after acquiring an additional 47,350 shares during the last quarter. Marshall Wace LLP bought a new stake in Arotech during the third quarter worth approximately $55,000. Finally, First Wilshire Securities Management Inc. bought a new stake in Arotech during the third quarter worth approximately $279,000. 28.93% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Jon B. Kutler acquired 10,000 shares of Arotech stock in a transaction on Tuesday, December 11th. The shares were bought at an average cost of $2.59 per share, with a total value of $25,900.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 46,000 shares of company stock worth $120,460 over the last three months. 9.40% of the stock is currently owned by insiders.

Separately, Zacks Investment Research raised Arotech from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Friday, January 11th.

Shares of NASDAQ ARTX opened at $3.17 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.68 and a debt-to-equity ratio of 0.09. Arotech Co. has a 1-year low of $2.37 and a 1-year high of $4.15. The company has a market cap of $85.82 million, a price-to-earnings ratio of 19.81 and a beta of 1.59.

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Arotech Company Profile

Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.

Further Reading: Mutual Funds

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Institutional Ownership by Quarter for Arotech (NASDAQ:ARTX)

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