Potomac Capital Management Inc. Takes $1.05 Million Position in WidePoint Corporation $WYY

Potomac Capital Management Inc. bought a new stake in WidePoint Corporation (NYSEAMERICAN:WYY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 195,670 shares of the technology company’s stock, valued at approximately $1,051,000. WidePoint makes up approximately 0.8% of Potomac Capital Management Inc.’s holdings, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in WYY. XTX Topco Ltd acquired a new position in shares of WidePoint in the 2nd quarter valued at approximately $58,000. NewEdge Advisors LLC acquired a new position in shares of WidePoint in the 2nd quarter valued at approximately $74,000. Jane Street Group LLC acquired a new position in shares of WidePoint in the 2nd quarter valued at approximately $87,000. Bridgeway Capital Management LLC raised its position in shares of WidePoint by 87.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 60,527 shares of the technology company’s stock valued at $207,000 after buying an additional 28,269 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of WidePoint by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock valued at $1,862,000 after buying an additional 8,850 shares in the last quarter. 22.60% of the stock is currently owned by institutional investors and hedge funds.

WidePoint Price Performance

WYY stock opened at $11.65 on Wednesday. The company has a 50 day simple moving average of $7.69 and a 200 day simple moving average of $6.45. The stock has a market cap of $115.22 million, a price-to-earnings ratio of -58.25 and a beta of 1.81. WidePoint Corporation has a 1 year low of $2.80 and a 1 year high of $12.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04.

WidePoint (NYSEAMERICAN:WYY) last released its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.13. The business had revenue of $40.58 million during the quarter, compared to analysts’ expectations of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. Research analysts anticipate that WidePoint Corporation will post -0.06 EPS for the current fiscal year.

Insider Transactions at WidePoint

In related news, CFO Robert J. George sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $10.59, for a total transaction of $105,900.00. Following the completion of the transaction, the chief financial officer directly owned 54,493 shares in the company, valued at $577,080.87. This represents a 15.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on WYY shares. Zacks Research upgraded shares of WidePoint from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a research report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.67.

WidePoint Profile

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.