ValuEngine upgraded shares of pdvWireless (NASDAQ:PDVW) from a sell rating to a hold rating in a research report released on Friday.
A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of pdvWireless from a buy rating to a hold rating in a research report on Tuesday, January 9th. BidaskClub downgraded shares of pdvWireless from a strong-buy rating to a buy rating in a research report on Thursday, December 21st. Finally, B. Riley restated a buy rating and set a $59.00 price objective on shares of pdvWireless in a research report on Friday, December 15th.
pdvWireless (NASDAQ PDVW) opened at $32.45 on Friday. The firm has a market cap of $482.23, a P/E ratio of -12.48 and a beta of 0.60. pdvWireless has a 52-week low of $18.70 and a 52-week high of $36.40.
pdvWireless (NASDAQ:PDVW) last issued its quarterly earnings data on Tuesday, November 7th. The wireless provider reported ($0.57) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.06. pdvWireless had a negative net margin of 670.81% and a negative return on equity of 16.24%. equities analysts forecast that pdvWireless will post -2.41 earnings per share for the current fiscal year.
In other pdvWireless news, major shareholder Owl Creek Asset Management, L. purchased 9,309 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $29.95 per share, for a total transaction of $278,804.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard E. Rohmann sold 900 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $33.45, for a total transaction of $30,105.00. Following the completion of the transaction, the executive vice president now owns 11,309 shares in the company, valued at $378,286.05. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 307,127 shares of company stock worth $9,698,568 and sold 2,700 shares worth $85,410. 10.91% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new position in pdvWireless in the third quarter worth approximately $212,000. State Board of Administration of Florida Retirement System bought a new position in pdvWireless in the third quarter worth approximately $215,000. The Manufacturers Life Insurance Company raised its position in pdvWireless by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock worth $190,000 after acquiring an additional 448 shares during the period. Teachers Advisors LLC raised its position in pdvWireless by 2.2% in the second quarter. Teachers Advisors LLC now owns 18,031 shares of the wireless provider’s stock worth $420,000 after acquiring an additional 391 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in pdvWireless by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 33,852 shares of the wireless provider’s stock worth $789,000 after acquiring an additional 209 shares during the period. Institutional investors and hedge funds own 91.92% of the company’s stock.
pdvWireless Company Profile
pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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