DRW Securities LLC Acquires New Stake in Network-1 Technologies Inc (NTIP)
DRW Securities LLC acquired a new position in Network-1 Technologies Inc (NYSE:NTIP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,000 shares of the company’s stock, valued at approximately $170,000. DRW Securities LLC owned approximately 0.16% of Network-1 Technologies as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Network-1 Technologies by 452.0% in the second quarter. Goldman Sachs Group Inc. now owns 55,590 shares of the company’s stock worth $236,000 after purchasing an additional 45,520 shares in the last quarter. Numeric Investors LLC lifted its position in shares of Network-1 Technologies by 107.5% in the second quarter. Numeric Investors LLC now owns 1,137,952 shares of the company’s stock worth $4,836,000 after purchasing an additional 589,543 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Network-1 Technologies by 1,731.8% in the second quarter. Dimensional Fund Advisors LP now owns 230,276 shares of the company’s stock worth $979,000 after purchasing an additional 217,705 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Network-1 Technologies by 43.9% in the second quarter. Vanguard Group Inc. now owns 383,534 shares of the company’s stock worth $1,630,000 after purchasing an additional 116,981 shares in the last quarter. Finally, Seizert Capital Partners LLC lifted its position in shares of Network-1 Technologies by 60.4% in the second quarter. Seizert Capital Partners LLC now owns 106,213 shares of the company’s stock worth $451,000 after purchasing an additional 39,975 shares in the last quarter.
In related news, EVP Jonathan M. Greene sold 7,053 shares of Network-1 Technologies stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $4.00, for a total value of $28,212.00. Following the completion of the sale, the executive vice president now owns 29,459 shares of the company’s stock, valued at approximately $117,836. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
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Shares of Network-1 Technologies Inc (NYSE NTIP) traded down 2.44% during mid-day trading on Friday, hitting $4.00. 28,104 shares of the stock were exchanged. The stock has a market capitalization of $96.64 million and a P/E ratio of 6.97. The stock’s 50 day moving average price is $3.83 and its 200-day moving average price is $4.23. Network-1 Technologies Inc has a 12-month low of $2.50 and a 12-month high of $5.05.
Network-1 Technologies (NYSE:NTIP) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.06 earnings per share (EPS) for the quarter. Network-1 Technologies had a net margin of 31.76% and a return on equity of 11.15%. The business had revenue of $4.86 million during the quarter.
The firm also recently declared a semiannual dividend, which was paid on Wednesday, September 20th. Investors of record on Friday, September 1st were given a $0.05 dividend. This represents a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, August 30th.
Network-1 Technologies declared that its board has initiated a share buyback program on Friday, June 16th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Network-1 Technologies Profile
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