Penn Capital Management Co. Inc. lifted its holdings in shares of CPI Aerostructures, Inc. (NYSEAMERICAN:CVU) by 66.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 421,877 shares of the aerospace company’s stock after purchasing an additional 168,459 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in CPI Aerostructures were worth $2,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Prescott Group Capital Management L.L.C. acquired a new position in CPI Aerostructures in the 4th quarter valued at $2,389,000. Boston Partners grew its position in CPI Aerostructures by 231.0% during the 4th quarter. Boston Partners now owns 290,000 shares of the aerospace company’s stock worth $1,847,000 after acquiring an additional 202,376 shares during the last quarter. Royce & Associates LP grew its position in CPI Aerostructures by 24.2% during the 4th quarter. Royce & Associates LP now owns 768,866 shares of the aerospace company’s stock worth $4,898,000 after acquiring an additional 150,000 shares during the last quarter. NJ State Employees Deferred Compensation Plan grew its position in CPI Aerostructures by 111.5% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 110,000 shares of the aerospace company’s stock worth $701,000 after acquiring an additional 58,000 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust bought a new stake in CPI Aerostructures during the 4th quarter worth $293,000.

Shares of CPI Aerostructures stock traded up $0.15 on Thursday, hitting $6.77. The company had a trading volume of 4,649 shares, compared to its average volume of 38,951. CPI Aerostructures, Inc. has a 1 year low of $5.83 and a 1 year high of $11.75.

Separately, Zacks Investment Research raised CPI Aerostructures from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research note on Thursday, December 27th.

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CPI Aerostructures Profile

CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. It also offers aero systems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.

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Want to see what other hedge funds are holding CVU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CPI Aerostructures, Inc. (NYSEAMERICAN:CVU).

Institutional Ownership by Quarter for CPI Aerostructures (NYSEAMERICAN:CVU)

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