Tangoe Inc. (TNGO) Trading Down 3%
Tangoe Inc. (NASDAQ:TNGO) shares were down 3% on Thursday . The company traded as low as $7.46 and last traded at $7.52, with a volume of 113,034 shares trading hands. The stock had previously closed at $7.75.
A number of research analysts recently weighed in on TNGO shares. Zacks Investment Research raised shares of Tangoe from a “sell” rating to a “hold” rating in a research note on Thursday, March 10th. Barrington Research lowered shares of Tangoe from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Raymond James Financial Inc. reissued a “market perform” rating on shares of Tangoe in a research note on Wednesday, April 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Tangoe has an average rating of “Hold” and an average price target of $10.30.
The company’s 50 day moving average is $8.01 and its 200-day moving average is $7.99. The stock’s market cap is $297.70 million.
In other Tangoe news, major shareholder Clearlake Capital Partners Iv purchased 1,202,666 shares of the stock in a transaction dated Wednesday, April 13th. The shares were acquired at an average cost of $7.25 per share, for a total transaction of $8,719,328.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
A hedge fund recently raised its stake in Tangoe stock. Principal Financial Group Inc. increased its position in Tangoe Inc. (NASDAQ:TNGO) by 5.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 246,556 shares of the company’s stock after buying an additional 11,896 shares during the period. Principal Financial Group Inc. owned about 0.63% of Tangoe worth $2,069,000 as of its most recent filing with the SEC.
Tangoe, Inc (Tangoe) is a global provider of connection lifecycle management (CLM), software and services to a range of enterprises and service providers. CLM covers the entire spectrum of an enterprise’s connection-based assets and services, such as voice and data services, mobile devices and usage, cloud software, infrastructure and services, machine-to-machine connections, enterprise social and information technology connections, and encompasses the entire lifecycle of these assets and services, including planning and sourcing, procurement and provisioning, inventory and usage management, mobile device management (MDM), real-time telecommunications expense management (rTEM), invoice processing and payment, expense allocation and accounting, and asset decommissioning and disposal.
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