Allot Ltd. $ALLT Stock Position Raised by Penbrook Management LLC

Penbrook Management LLC grew its position in Allot Ltd. (NASDAQ:ALLT) by 37.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 377,395 shares of the communications equipment provider’s stock after purchasing an additional 102,100 shares during the quarter. Allot comprises approximately 1.9% of Penbrook Management LLC’s investment portfolio, making the stock its 9th biggest position. Penbrook Management LLC’s holdings in Allot were worth $3,185,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ALLT. Sei Investments Co. increased its position in shares of Allot by 744.0% in the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after purchasing an additional 461,175 shares during the period. Lazard Asset Management LLC acquired a new position in Allot in the first quarter valued at about $1,208,000. Kanen Wealth Management LLC lifted its position in Allot by 1.1% during the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after purchasing an additional 51,029 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Allot by 24.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock worth $857,000 after purchasing an additional 19,013 shares during the period. Finally, Silverberg Bernstein Capital Management LLC lifted its position in Allot by 5.7% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock worth $1,165,000 after purchasing an additional 9,450 shares during the period. Institutional investors own 51.50% of the company’s stock.

Wall Street Analyst Weigh In

ALLT has been the topic of several recent analyst reports. Northland Securities set a $17.00 target price on shares of Allot in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a report on Tuesday, September 22nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.38.

Allot Price Performance

NASDAQ ALLT opened at $9.03 on Friday. The business has a fifty day moving average price of $8.04 and a two-hundred day moving average price of $7.76. The stock has a market capitalization of $445.18 million, a PE ratio of 41.05 and a beta of 1.48. Allot Ltd. has a fifty-two week low of $6.12 and a fifty-two week high of $11.92.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Allot had a return on equity of 9.64% and a net margin of 9.40%. The company had revenue of $27.74 million for the quarter, compared to analyst estimates of $27.45 million. As a group, sell-side analysts expect that Allot Ltd. will post 0.23 earnings per share for the current year.

Allot announced that its board has authorized a share repurchase plan on Tuesday, June 23rd that authorizes the company to buy back $40.00 million in shares. This repurchase authorization authorizes the communications equipment provider to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Allot news, SVP Boaz Grossman sold 4,000 shares of Allot stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $7.80, for a total value of $31,200.00. Following the transaction, the senior vice president owned 182,000 shares in the company, valued at $1,419,600. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gili Groner sold 26,666 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $7.86, for a total value of $209,594.76. Following the transaction, the insider directly owned 59,467 shares of the company’s stock, valued at approximately $467,410.62. The trade was a 30.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,333 shares of company stock worth $512,240 in the last ninety days. 3.40% of the stock is owned by insiders.

Allot Profile

Allot Ltd. is a telecommunications technology company that provides network intelligence, traffic management and cybersecurity solutions to communications service providers. Its software and hardware help operators monitor network traffic, analyze subscriber and application usage, optimize performance and manage service quality across fixed, mobile and broadband networks.

The company’s portfolio has included network visibility and analytics tools, policy and traffic-management platforms, and security products designed to help detect and mitigate threats such as distributed denial-of-service attacks.