Datalink Corp. (DTLK) Trading 6.1% Higher
Datalink Corp. (NASDAQ:DTLK) shares traded up 6.1% during mid-day trading on Monday . The company traded as high as $8.34 and last traded at $8.33, with a volume of 57,782 shares changing hands. The stock had previously closed at $7.85.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Datalink Corp. from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Datalink Corp. in a research note on Sunday, May 1st. Finally, Canaccord Genuity reissued a “buy” rating and set a $10.00 target price on shares of Datalink Corp. in a research note on Wednesday, March 23rd.
The company has a 50 day moving average price of $7.97 and a 200-day moving average price of $7.75. The company has a market cap of $188.99 million and a P/E ratio of 43.37.
Datalink Corp. (NASDAQ:DTLK) last released its earnings results on Wednesday, April 27th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.05. The company had revenue of $164.60 million for the quarter, compared to analysts’ expectations of $176.40 million. Datalink Corp.’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. Analysts anticipate that Datalink Corp. will post $0.59 earnings per share for the current fiscal year.
In related news, Director Greg R. Meland sold 8,386 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $7.94, for a total transaction of $66,584.84. Following the completion of the transaction, the director now directly owns 1,472,040 shares in the company, valued at approximately $11,687,997.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Greg R. Meland sold 40,000 shares of the stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $8.20, for a total transaction of $328,000.00. Following the completion of the transaction, the director now owns 1,360,426 shares of the company’s stock, valued at approximately $11,155,493.20. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Datalink Corp. stock. Paradigm Capital Management Inc. NY raised its position in shares of Datalink Corp. (NASDAQ:DTLK) by 21.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 989,800 shares of the company’s stock after buying an additional 171,500 shares during the period. Paradigm Capital Management Inc. NY owned approximately 4.26% of Datalink Corp. worth $6,730,000 as of its most recent filing with the SEC.
Datalink Corporation is engaged in accessing, designing, deploying, managing and supporting infrastructures, such as servers, storage and networks. The Company provides solutions and services to data centers for changing business needs. It leverages hardware and software from original equipment manufacturers (OEMs) as part of its data center optimization offerings.
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