Insider Selling: TransAct Technologies Inc. (TACT) Chairman Sells $43,980.00 in Stock
TransAct Technologies Inc. (NASDAQ:TACT) Chairman Bart C. Shuldman sold 6,000 shares of TransAct Technologies stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $7.33, for a total transaction of $43,980.00. Following the completion of the transaction, the chairman now directly owns 7,914 shares in the company, valued at $58,009.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
TransAct Technologies Inc. (NASDAQ:TACT) opened at 7.20 on Wednesday. The firm has a 50-day moving average of $7.51 and a 200 day moving average of $7.80. The firm has a market capitalization of $53.70 million, a PE ratio of 19.46 and a beta of 0.83. TransAct Technologies Inc. has a 52 week low of $6.43 and a 52 week high of $10.46.
TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The company earned $14.80 million during the quarter, compared to analysts’ expectations of $14.89 million. TransAct Technologies had a return on equity of 11.66% and a net margin of 5.30%. Analysts predict that TransAct Technologies Inc. will post $0.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 19th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Wednesday, August 17th. TransAct Technologies’s dividend payout ratio is presently 84.21%.
TACT has been the topic of a number of recent research reports. B. Riley reaffirmed a “buy” rating and issued a $11.00 target price on shares of TransAct Technologies in a report on Tuesday, August 9th. Zacks Investment Research raised shares of TransAct Technologies from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Thursday, June 2nd.
A number of institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC boosted its position in TransAct Technologies by 13.6% in the first quarter. Algert Global LLC now owns 23,232 shares of the company’s stock worth $189,000 after buying an additional 2,781 shares in the last quarter. Renaissance Technologies LLC boosted its position in TransAct Technologies by 0.6% in the first quarter. Renaissance Technologies LLC now owns 319,871 shares of the company’s stock worth $2,604,000 after buying an additional 1,871 shares in the last quarter. Punch & Associates Investment Management Inc. bought a new position in TransAct Technologies during the second quarter worth $807,000. TIAA CREF Trust Co. FSB MO bought a new position in TransAct Technologies during the second quarter worth $200,000. Finally, Teton Advisors Inc. boosted its position in TransAct Technologies by 1.5% in the second quarter. Teton Advisors Inc. now owns 133,200 shares of the company’s stock worth $1,068,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 35.59% of the company’s stock.
About TransAct Technologies
TransAct Technologies Incorporated (TransAct) designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. The Company operates through the segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts.
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