Insider Selling: WidePoint (NYSEAMERICAN:WYY) CFO Sells $288,230.71 in Stock

WidePoint Corporation (NYSEAMERICAN:WYY) CFO Robert George sold 15,863 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $18.17, for a total transaction of $288,230.71. Following the completion of the sale, the chief financial officer owned 36,724 shares of the company’s stock, valued at approximately $667,275.08. This represents a 30.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

WidePoint Stock Performance

Shares of WidePoint stock traded up $0.67 during trading on Tuesday, hitting $17.46. 267,484 shares of the stock were exchanged, compared to its average volume of 154,700. The stock has a market capitalization of $172.68 million, a price-to-earnings ratio of -87.30 and a beta of 1.80. The company has a fifty day moving average price of $10.33 and a 200-day moving average price of $7.22. WidePoint Corporation has a 1-year low of $2.80 and a 1-year high of $24.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32.

WidePoint (NYSEAMERICAN:WYY) last issued its earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.13. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. The business had revenue of $40.58 million during the quarter, compared to the consensus estimate of $37.87 million. As a group, equities analysts predict that WidePoint Corporation will post -0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in WidePoint by 9.7% during the 4th quarter. State Street Corp now owns 27,153 shares of the technology company’s stock worth $146,000 after purchasing an additional 2,400 shares during the last quarter. Geode Capital Management LLC grew its holdings in WidePoint by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 85,777 shares of the technology company’s stock valued at $461,000 after buying an additional 3,675 shares in the last quarter. Renaissance Technologies LLC grew its holdings in WidePoint by 3.0% in the 4th quarter. Renaissance Technologies LLC now owns 132,098 shares of the technology company’s stock valued at $709,000 after buying an additional 3,898 shares in the last quarter. Royal Bank of Canada increased its position in WidePoint by 19,130.8% during the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after buying an additional 4,974 shares during the period. Finally, Vanguard Group Inc. increased its position in WidePoint by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 376,513 shares of the technology company’s stock worth $1,862,000 after buying an additional 8,850 shares during the period. 22.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WYY has been the subject of several research analyst reports. Zacks Research upgraded WidePoint from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of WidePoint in a research note on Monday, March 30th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.67.

WidePoint Company 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.