Datalink Corp. (DTLK) Sees Strong Trading Volume
Shares of Datalink Corp. (NASDAQ:DTLK) saw an uptick in trading volume on Monday . 135,747 shares were traded during mid-day trading, an increase of 38% from the previous session’s volume of 98,517 shares.The stock last traded at $8.87 and had previously closed at $8.58.
A number of brokerages recently issued reports on DTLK. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Datalink Corp. in a report on Sunday, May 1st. Zacks Investment Research cut shares of Datalink Corp. from a “hold” rating to a “sell” rating in a report on Monday, May 2nd.
The firm has a 50-day moving average price of $7.98 and a 200-day moving average price of $7.90. The stock has a market capitalization of $200.83 million and a PE ratio of 26.22.
Datalink Corp. (NASDAQ:DTLK) last posted its earnings results on Thursday, July 28th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The firm earned $199.20 million during the quarter, compared to analyst estimates of $186.59 million. During the same quarter last year, the business posted $0.12 earnings per share. On average, equities research analysts expect that Datalink Corp. will post $0.62 earnings per share for the current year.
In related news, Director Greg R. Meland sold 48,124 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $8.10, for a total transaction of $389,804.40. Following the sale, the director now directly owns 1,220,426 shares in the company, valued at $9,885,450.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul F. Lidsky sold 50,702 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $8.04, for a total transaction of $407,644.08. Following the sale, the chief executive officer now owns 169,899 shares in the company, valued at $1,365,987.96. The disclosure for this sale can be found here.
A hedge fund recently raised its stake 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 Securities and Exchange Commission. The institutional investor 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 4.26% of Datalink Corp. worth $6,730,000 at the end of the most recent reporting period.
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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