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Polar Asset Management Partners Inc., a prominent investment advisory firm, recently executed a series of stock transactions involving Hurco Companies Inc. (NASDAQ:HURC), which has seen its stock surge 32.2% over the past six months. According to the latest filings, Polar Asset Management sold a total of 7,603 shares over two days, February 13 and February 14, 2025. The shares were sold at prices ranging from $22.60 to $22.63 per share, amounting to a total transaction value of $171,963. According to InvestingPro, the company maintains a strong liquidity position with current assets exceeding short-term obligations by nearly 5 times.
Following these transactions, Polar Asset Management now holds 778,977 shares of Hurco Companies. The sales were conducted in an indirect manner, as noted in the filing, with Polar Asset Management acting as the investment advisor to several Polar Vehicles, which include Polar Multi-Strategy Master Fund and others. The firm has clarified that it disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest. InvestingPro analysis reveals that Hurco has maintained dividend payments for 12 consecutive years, with investors anticipating the next earnings report on March 6, 2025. Unlock more insights and 5 additional ProTips with an InvestingPro subscription.
This strategic move by Polar Asset Management reflects its ongoing management of investments in Hurco Companies, an Indianapolis-based firm specializing in industrial instruments for measurement, display, and control. While the company has struggled with profitability in the last twelve months, it maintains a conservative financial position with more cash than debt on its balance sheet.
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