B. Riley Reaffirms “Buy” Rating for pdvWireless, Inc. (PDVW)
B. Riley restated their buy rating on shares of pdvWireless, Inc. (NASDAQ:PDVW) in a research report report published on Wednesday. The brokerage currently has a $59.00 target price on the wireless provider’s stock. B. Riley also issued estimates for pdvWireless’ Q3 2018 earnings at ($0.61) EPS, Q4 2018 earnings at ($0.57) EPS, FY2018 earnings at ($2.41) EPS, Q1 2019 earnings at ($0.50) EPS, Q2 2019 earnings at ($0.57) EPS, Q2 2019 earnings at ($0.52) EPS, Q3 2019 earnings at ($0.56) EPS, Q3 2019 earnings at ($0.57) EPS, Q4 2019 earnings at ($0.56) EPS, Q4 2019 earnings at ($0.53) EPS and FY2019 earnings at ($2.38) EPS.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of pdvWireless from a hold rating to a sell rating in a research note on Wednesday. ValuEngine downgraded shares of pdvWireless from a hold rating to a sell rating in a research report on Thursday, October 12th. Finally, BidaskClub downgraded shares of pdvWireless from a buy rating to a hold rating in a research report on Thursday, August 24th.
Shares of pdvWireless (PDVW) traded down $0.60 on Wednesday, reaching $29.45. 9,700 shares of the company traded hands, compared to its average volume of 24,980. pdvWireless has a 1 year low of $18.70 and a 1 year high of $33.75.
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In other pdvWireless news, EVP Richard E. Rohmann sold 900 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $30.60, for a total value of $27,540.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Owl Creek Asset Management, L. bought 14,749 shares of the stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $29.26 per share, with a total value of $431,555.74. The disclosure for this purchase can be found here. Corporate insiders own 10.91% of the company’s stock.
Several institutional investors have recently modified their holdings of PDVW. American International Group Inc. boosted its holdings in shares of pdvWireless by 7.1% in the 1st quarter. American International Group Inc. now owns 6,014 shares of the wireless provider’s stock valued at $131,000 after buying an additional 398 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of pdvWireless by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock valued at $190,000 after buying an additional 448 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of pdvWireless in the 3rd quarter valued at $215,000. Phoenix Investment Adviser LLC acquired a new position in shares of pdvWireless in the 2nd quarter valued at $287,000. Finally, Swiss National Bank boosted its holdings in shares of pdvWireless by 19.4% in the 1st quarter. Swiss National Bank now owns 14,150 shares of the wireless provider’s stock valued at $309,000 after buying an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.
pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.
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