TransAct Technologies Inc. (TACT) Stock Rating Upgraded by Zacks Investment Research
TransAct Technologies Inc. (NASDAQ:TACT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
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 $12.00 price objective on shares of TransAct Technologies in a research report on Wednesday, August 3rd.
TransAct Technologies (NASDAQ:TACT) opened at 6.15 on Friday. The firm has a market capitalization of $45.41 million, a price-to-earnings ratio of 17.57 and a beta of 0.90. TransAct Technologies has a one year low of $5.90 and a one year high of $9.44. The firm’s 50-day moving average is $6.81 and its 200 day moving average is $7.34.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, November 21st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.00%. The ex-dividend date is Thursday, November 17th. TransAct Technologies’s dividend payout ratio is 86.49%.
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In other TransAct Technologies news, Chairman Bart C. Shuldman sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $7.33, for a total value of $43,980.00. Following the completion of the sale, the chairman now directly owns 7,914 shares of the company’s stock, valued at $58,009.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.57% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of TACT. Punch & Associates Investment Management Inc. acquired a new stake in TransAct Technologies during the second quarter valued at approximately $807,000. TIAA CREF Trust Co. FSB MO purchased a new stake in shares of TransAct Technologies during the second quarter worth $200,000. Teton Advisors Inc. boosted its stake in shares of TransAct Technologies by 1.5% in the second quarter. Teton Advisors Inc. now owns 133,200 shares of the company’s stock worth $1,068,000 after buying an additional 2,000 shares during the last quarter. LSV Asset Management boosted its stake in shares of 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of TransAct Technologies by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 239,839 shares of the company’s stock worth $1,924,000 after buying an additional 2,365 shares during the last quarter. 36.44% of the stock is owned by institutional investors.
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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