TransAct Technologies Inc. (TACT) Upgraded by Zacks Investment Research to Hold
TransAct Technologies Inc. (NASDAQ:TACT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “
Separately, B. Riley reaffirmed a “buy” rating and set a $11.00 price target on shares of TransAct Technologies in a research report on Monday, October 31st.
TransAct Technologies (NASDAQ:TACT) opened at 6.60 on Wednesday. The company has a market cap of $49.49 million, a price-to-earnings ratio of 18.86 and a beta of 0.90. The stock has a 50 day moving average price of $7.00 and a 200-day moving average price of $7.44. TransAct Technologies has a 12-month low of $5.89 and a 12-month high of $9.44.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, November 21st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.85%. TransAct Technologies’s dividend payout ratio (DPR) is 86.49%.
In other TransAct Technologies news, Chairman Bart C. Shuldman sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $7.33, for a total transaction of $43,980.00. Following the transaction, the chairman now owns 7,914 shares in the company, valued at approximately $58,009.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.57% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TACT. O Shaughnessy Asset Management LLC increased its position in TransAct Technologies by 462.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 15,406 shares of the company’s stock worth $124,000 after buying an additional 12,667 shares during the period. Spark Investment Management LLC purchased a new position in TransAct Technologies during the second quarter worth $163,000. TIAA CREF Trust Co. FSB MO purchased a new position in TransAct Technologies during the second quarter worth $200,000. B. Riley Financial Inc. increased its position in TransAct Technologies by 14.4% in the second quarter. B. Riley Financial Inc. now owns 28,118 shares of the company’s stock worth $226,000 after buying an additional 3,540 shares during the period. Finally, LSV Asset Management increased its position in TransAct Technologies by 50.3% in the second quarter. LSV Asset Management now owns 28,700 shares of the company’s stock worth $230,000 after buying an additional 9,600 shares during the period. Hedge funds and other institutional investors own 36.31% of the company’s stock.
TransAct Technologies Company Profile
TransAct Technologies Incorporated (TransAct) designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. The Company operates through the segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts.
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