Pctel Inc. (PCTI) CEO Martin H. Singer Sells 17,302 Shares
Pctel Inc. (NASDAQ:PCTI) CEO Martin H. Singer sold 17,302 shares of Pctel stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $5.08, for a total transaction of $87,894.16. Following the transaction, the chief executive officer now directly owns 246,420 shares in the company, valued at approximately $1,251,813.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Pctel Inc. (NASDAQ:PCTI) traded down 0.20% during midday trading on Thursday, reaching $4.99. 1,820 shares of the company traded hands. Pctel Inc. has a 1-year low of $4.36 and a 1-year high of $6.00. The stock has a 50 day moving average price of $5.28 and a 200 day moving average price of $4.96. The firm’s market capitalization is $86.52 billion.
Pctel (NASDAQ:PCTI) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Pctel had a positive return on equity of 0.31% and a negative net margin of 13.70%. The business earned $24.70 million during the quarter, compared to analyst estimates of $24.35 million. During the same quarter last year, the company posted $0.01 EPS. Pctel’s quarterly revenue was down 6.8% compared to the same quarter last year. Analysts expect that Pctel Inc. will post $0.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 8th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.00%. Pctel’s payout ratio is -24.39%.
Several research firms have recently commented on PCTI. B. Riley reissued a “buy” rating and issued a $7.50 target price on shares of Pctel in a report on Thursday, November 3rd. Zacks Investment Research downgraded shares of Pctel from a “buy” rating to a “hold” rating in a report on Friday, October 28th.
Several large investors have recently modified their holdings of the company. Moors & Cabot Inc. boosted its stake in shares of Pctel by 5.3% in the third quarter. Moors & Cabot Inc. now owns 70,000 shares of the company’s stock worth $374,000 after buying an additional 3,500 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Pctel by 10.5% in the third quarter. Prudential Financial Inc. now owns 52,400 shares of the company’s stock worth $277,000 after buying an additional 5,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Pctel by 3.7% in the second quarter. Vanguard Group Inc. now owns 592,423 shares of the company’s stock worth $2,791,000 after buying an additional 21,200 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Pctel by 16.9% in the second quarter. Baird Financial Group Inc. now owns 172,541 shares of the company’s stock worth $813,000 after buying an additional 25,000 shares during the last quarter. Finally, North Star Investment Management Corp. purchased a new stake in shares of Pctel during the third quarter worth approximately $574,000. 72.97% of the stock is currently owned by institutional investors and hedge funds.
Pctel Company Profile
PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.
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