Lisanti Capital Growth LLC Makes New Investment in Frequency Electronics, Inc. $FEIM

Lisanti Capital Growth LLC bought a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,375 shares of the communications equipment provider’s stock, valued at approximately $792,000. Lisanti Capital Growth LLC owned about 0.08% of Frequency Electronics as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Jacobi Capital Management LLC bought a new position in shares of Frequency Electronics in the third quarter valued at about $42,000. Kornitzer Capital Management Inc. KS lifted its position in Frequency Electronics by 6.6% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 20,037 shares of the communications equipment provider’s stock worth $1,694,000 after buying an additional 1,242 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in Frequency Electronics during the 3rd quarter worth about $9,002,000. Kings Path Partners LLC acquired a new position in Frequency Electronics during the 3rd quarter worth about $280,000. Finally, Hidden Cove Wealth Management LLC bought a new stake in Frequency Electronics during the 3rd quarter worth about $414,000. Institutional investors own 58.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Freedom Broker lowered shares of Frequency Electronics from a “buy” rating to a “hold” rating and upped their target price for the stock from $77.00 to $91.00 in a research report on Monday, September 14th. Finally, Wall Street Zen cut shares of Frequency Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Frequency Electronics presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Frequency Electronics Stock Performance

Shares of FEIM opened at $68.23 on Thursday. The business’s fifty day moving average price is $73.41 and its two-hundred day moving average price is $62.80. The firm has a market capitalization of $768.95 million, a price-to-earnings ratio of 263.24 and a beta of 0.75. Frequency Electronics, Inc. has a 52 week low of $26.05 and a 52 week high of $89.76.

Frequency Electronics (NASDAQ:FEIM) last released its earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.26. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%. The company had revenue of $23.45 million during the quarter, compared to the consensus estimate of $17.85 million.

Frequency Electronics Profile

Frequency Electronics, Inc. designs and manufactures precision time and frequency control products and systems. Its offerings include atomic clocks, frequency standards, oscillators, synthesizers and integrated timing solutions used to generate and distribute highly accurate timing signals. The company serves aerospace, defense, satellite communications and other commercial markets. Its products support applications such as satellite payloads and ground systems, secure communications, navigation and telecommunications networks, where precise and stable timing is important.