Benn Konsynski Purchases 2,000 Shares of Tessco Technologies Inc. (TESS) Stock
Tessco Technologies Inc. (NASDAQ:TESS) Director Benn Konsynski purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average price of $9.95 per share, for a total transaction of $19,900.00. Following the completion of the purchase, the director now directly owns 139,643 shares in the company, valued at approximately $1,389,447.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Tessco Technologies Inc. (NASDAQ:TESS) opened at 10.20 on Thursday. The company’s 50 day moving average is $11.94 and its 200-day moving average is $13.13. The stock has a market capitalization of $84.50 million, a PE ratio of 43.04 and a beta of 1.60. Tessco Technologies Inc. has a 52 week low of $9.75 and a 52 week high of $22.13.
Tessco Technologies (NASDAQ:TESS) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business earned $134.60 million during the quarter, compared to analyst estimates of $129.18 million. Tessco Technologies had a net margin of 0.38% and a return on equity of 2.58%. On average, equities analysts predict that Tessco Technologies Inc. will post $0.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, November 7th. This represents a $0.80 dividend on an annualized basis and a yield of 7.84%. Tessco Technologies’s dividend payout ratio is currently 333.35%.
Separately, Zacks Investment Research cut shares of Tessco Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st.
Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in Tessco Technologies by 1.0% in the second quarter. Stifel Financial Corp now owns 21,212 shares of the company’s stock worth $295,000 after buying an additional 200 shares in the last quarter. Brown Advisory Inc. raised its stake in Tessco Technologies by 2.5% in the second quarter. Brown Advisory Inc. now owns 79,170 shares of the company’s stock worth $1,100,000 after buying an additional 1,939 shares in the last quarter. BlackRock Fund Advisors raised its stake in Tessco Technologies by 15.0% in the second quarter. BlackRock Fund Advisors now owns 16,184 shares of the company’s stock worth $225,000 after buying an additional 2,107 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Tessco Technologies by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 46,589 shares of the company’s stock worth $578,000 after buying an additional 2,578 shares in the last quarter. Finally, Crawford Investment Counsel Inc. raised its stake in Tessco Technologies by 5.8% in the second quarter. Crawford Investment Counsel Inc. now owns 61,784 shares of the company’s stock worth $858,000 after buying an additional 3,395 shares in the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.
Tessco Technologies Company Profile
TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.
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