Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Marathon Capital Management Slices Stake in Adept Technology Inc (ADEP)

James G. Kennedy’s Marathon Capital Management has cut its stake in Adept Technology Inc (NASDAQ:ADEP) to some 980,100 shares. In its latest 13F, Marathon Capital Management, reported ownership of around 1.15 million shares of the company. Following the reduction, the fund’s stake in Adept Technology amasses 8.9% of common stock.

Adept Technology Inc

Adept Technology Inc (NASDAQ:ADEP) is a company engaged in manufacturing of application software and motion controls, machine vision systems, industrial robots. In December, the company signed a contract with Cornerstone Automation Systems for delivery of a fleet of mobile robots that will be integrated in pharmacy automation systems.

For the first quarter of its fiscal 2014, Adept Technology Inc (NASDAQ:ADEP) posted a revenue of $13.6 million, up by 19.4% over the year. The gross margin of the company went up by 5% on the year, and totaled 46.1%. Adept also posted a operating loss of $0.2 million, which represent an improvement from $2.7 million in the same period of the previous fiscal year.

Out of the funds we track, Nantahala Capital Management, led by Wilmot B. Harkey and Daniel Mack, reported owning 1.08 million shares of Adept Technology Inc (NASDAQ:ADEP) as held at the end of September 2013. The value of the stake amounts to $7.76 million. Seymour Sy Kaufman And Michael Stark’s Crosslink Capital reported a $972,000 stake, which contains 135,100 shares.

Last month, aside from Marathon Capital Management, an insider also sold around 104,900 shares of the company. David Greenhouse and Austin Marxe reported disposed the securities in December, in six transactions, the price varying between $12.00 and $14.85 apiece. Overall, during the last three months of last year, Greenhouse and Marxe reduced the holding in Adept Technology Inc (NASDAQ:ADEP) to 1.70 million shares, from approximately 2.2 million shares.

Disclosure: none

Recommended Reading:

Hedge Fund News: Daniel Och, Michael Novogratz & Phil Falcone

David Nierenberg Receives Some RadiSys Corporation (RSYS) Shares

Healthcor Management Increases Holding in CareView Communications Inc (CRVW)

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!