Insider Selling: WidePoint (NYSEAMERICAN:WYY) Director Sells 15,000 Shares of Stock

WidePoint Corporation (NYSEAMERICAN:WYY) Director John Fitzgerald sold 15,000 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $15.63, for a total transaction of $234,450.00. Following the transaction, the director directly owned 90,414 shares of the company’s stock, valued at $1,413,170.82. This trade represents a 14.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

WidePoint Price Performance

Shares of WYY stock traded down $1.09 during trading hours on Tuesday, hitting $14.15. The stock had a trading volume of 224,133 shares, compared to its average volume of 158,089. WidePoint Corporation has a one year low of $2.80 and a one year high of $24.30. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average price is $11.45 and its two-hundred day moving average price is $7.57. The stock has a market capitalization of $139.94 million, a price-to-earnings ratio of -70.75 and a beta of 1.71.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings results on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.13. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%.The company had revenue of $40.58 million during the quarter, compared to analyst estimates of $37.87 million. Equities analysts forecast that WidePoint Corporation will post 0.04 EPS for the current year.

Institutional Investors Weigh In On WidePoint

Several institutional investors have recently modified their holdings of WYY. Royal Bank of Canada boosted its holdings in shares of WidePoint by 19,130.8% in the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,974 shares during the period. PNC Financial Services Group Inc. bought a new stake in WidePoint in the first quarter worth $50,000. Cassaday & Co Wealth Management LLC bought a new stake in WidePoint in the first quarter worth $87,000. NewEdge Advisors LLC boosted its stake in WidePoint by 194.5% during the fourth quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock worth $247,000 after buying an additional 30,397 shares during the period. Finally, State Street Corp boosted its stake in WidePoint by 9.7% during the fourth quarter. State Street Corp now owns 27,153 shares of the technology company’s stock worth $146,000 after buying an additional 2,400 shares during the period. 22.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WYY shares. Zacks Research upgraded shares of WidePoint from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. 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. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $8.67.

About WidePoint

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.