Portolan Capital Management LLC Grows Stake in Bandwidth Inc. $BAND

Portolan Capital Management LLC raised its holdings in shares of Bandwidth Inc. (NASDAQ:BAND) by 115.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 745,802 shares of the company’s stock after purchasing an additional 400,231 shares during the period. Portolan Capital Management LLC owned 2.44% of Bandwidth worth $12,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Bandwidth by 36.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 44,567 shares of the company’s stock worth $743,000 after purchasing an additional 11,851 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Bandwidth during the 3rd quarter valued at about $271,000. Dimensional Fund Advisors LP increased its position in Bandwidth by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,464,976 shares of the company’s stock valued at $24,423,000 after buying an additional 30,248 shares in the last quarter. Victory Capital Management Inc. raised its stake in Bandwidth by 16.5% in the third quarter. Victory Capital Management Inc. now owns 25,280 shares of the company’s stock valued at $421,000 after buying an additional 3,584 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Bandwidth in the third quarter valued at about $1,100,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BAND shares. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. B. Riley Financial began coverage on shares of Bandwidth in a research report on Friday, January 23rd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Wall Street Zen cut shares of Bandwidth from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.60.

Bandwidth Stock Performance

Shares of BAND opened at $15.23 on Friday. The stock has a 50-day moving average of $14.22 and a two-hundred day moving average of $15.04. Bandwidth Inc. has a one year low of $11.33 and a one year high of $18.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $478.07 million, a P/E ratio of -35.42 and a beta of 2.14.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.