Presidio, Inc.’s Lock-Up Period Set To Expire on September 6th (NASDAQ:PSDO)
Presidio’s (NASDAQ:PSDO) lock-up period will expire on Wednesday, September 6th. Presidio had issued 16,666,666 shares in its public offering on March 10th. The total size of the offering was $233,333,324 based on an initial share price of $14.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
A number of equities research analysts have recently weighed in on PSDO shares. ValuEngine lowered Presidio from a “buy” rating to a “hold” rating in a research note on Wednesday, May 17th. Royal Bank Of Canada dropped their price target on Presidio from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, May 12th. Finally, Evercore ISI set a $19.00 price target on Presidio and gave the stock a “buy” rating in a research note on Saturday, May 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Presidio presently has an average rating of “Buy” and an average price target of $18.00.
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Presidio (PSDO) traded down 0.65% during midday trading on Friday, hitting $13.82. The company had a trading volume of 11,188 shares. The firm has a 50-day moving average price of $14.25 and a 200-day moving average price of $14.25. Presidio has a 12 month low of $12.75 and a 12 month high of $16.38. The company’s market cap is $1.26 billion.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. purchased a new position in Presidio during the second quarter worth about $103,000. Nationwide Fund Advisors purchased a new position in Presidio during the second quarter worth about $153,000. Cubist Systematic Strategies LLC increased its position in Presidio by 802.7% in the second quarter. Cubist Systematic Strategies LLC now owns 11,735 shares of the company’s stock worth $168,000 after buying an additional 10,435 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Presidio during the second quarter worth about $201,000. Finally, Ngam Advisors L.P. purchased a new position in Presidio during the first quarter worth about $221,000. Institutional investors and hedge funds own 97.10% of the company’s stock.
Presidio Company Profile
Presidio, Inc is a United States-based company, which is an information technology (IT) solutions provider. The Company’s services include strategy and consulting, solutions design and deployment, managed services, asset maintenance and support, financing services, global services and carrier connectivity.
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