Harbert Fund Advisors Inc. Sells 297,607 Shares of TransAct Technologies Incorporated $TACT

Harbert Fund Advisors Inc. decreased its position in shares of TransAct Technologies Incorporated (NASDAQ:TACT) by 71.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 118,512 shares of the technology company’s stock after selling 297,607 shares during the period. TransAct Technologies comprises 13.6% of Harbert Fund Advisors Inc.’s investment portfolio, making the stock its 2nd biggest holding. Harbert Fund Advisors Inc.’s holdings in TransAct Technologies were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of TransAct Technologies by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock worth $1,670,000 after purchasing an additional 18,122 shares during the period. Geode Capital Management LLC grew its stake in shares of TransAct Technologies by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock worth $462,000 after purchasing an additional 4,742 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of TransAct Technologies during the 3rd quarter worth approximately $290,000. Susquehanna International Group LLP acquired a new stake in shares of TransAct Technologies during the 3rd quarter worth approximately $225,000. Finally, Teton Advisors LLC acquired a new stake in shares of TransAct Technologies during the 3rd quarter worth approximately $176,000. Institutional investors and hedge funds own 74.46% of the company’s stock.

TransAct Technologies Trading Down 6.4%

Shares of TACT opened at $5.01 on Friday. TransAct Technologies Incorporated has a 12 month low of $3.06 and a 12 month high of $5.70. The stock’s 50 day moving average is $3.79 and its two-hundred day moving average is $3.80. The firm has a market cap of $51.50 million, a P/E ratio of -100.20 and a beta of 1.27.

TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.11. TransAct Technologies had a negative return on equity of 1.56% and a negative net margin of 0.93%.The company had revenue of $14.42 million for the quarter, compared to analyst estimates of $12.60 million. Equities research analysts forecast that TransAct Technologies Incorporated will post -0.05 EPS for the current year.

TransAct Technologies announced that its board has initiated a stock buyback program on Wednesday, May 13th that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at TransAct Technologies

In other news, CEO John Dillon acquired 70,902 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were bought at an average cost of $3.49 per share, for a total transaction of $247,447.98. Following the acquisition, the chief executive officer owned 100,000 shares in the company, valued at approximately $349,000. This represents a 243.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday. Zacks Research raised TransAct Technologies to a “hold” rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

TransAct Technologies Profile

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.