Pctel Inc. (PCTI) CEO Martin H. Singer Sells 7,400 Shares
Pctel Inc. (NASDAQ:PCTI) CEO Martin H. Singer sold 7,400 shares of the business’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $5.00, for a total transaction of $37,000.00. Following the completion of the sale, the chief executive officer now owns 207,427 shares in the company, valued at $1,037,135. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Pctel Inc. (NASDAQ:PCTI) traded up 0.60% during trading on Tuesday, reaching $4.99. The company had a trading volume of 1,846 shares. The firm’s market capitalization is $80.77 million. The company has a 50 day moving average of $5.21 and a 200-day moving average of $4.99. Pctel Inc. has a 52-week low of $4.36 and a 52-week high of $6.00.
Pctel (NASDAQ:PCTI) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.01. Pctel had a negative net margin of 13.70% and a positive return on equity of 0.31%. The firm had revenue of $24.70 million for the quarter, compared to analyst estimates of $24.35 million. During the same period last year, the company earned $0.01 EPS. The company’s revenue was down 6.8% compared to the same quarter last year. Equities analysts expect that Pctel Inc. will post $0.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 8th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Friday, November 4th. Pctel’s payout ratio is -24.39%.
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Several equities research analysts have commented on the stock. B. Riley reiterated a “buy” rating and issued a $7.50 price target on shares of Pctel in a research report on Monday, October 24th. Zacks Investment Research raised Pctel from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Thursday, October 20th.
Institutional investors have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. raised its stake in 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 in the last quarter. Prudential Financial Inc. increased its position in 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. increased its position in 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. increased its position in 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 position in Pctel during the third quarter worth about $574,000. 69.74% of the stock is currently owned by hedge funds and other institutional investors.
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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