Numerex Corp. (NMRX) Stake Owned by Sierra Wireless Inc
Sierra Wireless Inc
recently disclosed that they own a 27.2% stake in Numerex Corp. (NASDAQ:NMRX) in a Schedule 13D disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, August 11th. The investor owns 5,354,097 shares of the stock worth approximately $21,630,552. The filing is available through the SEC website at this link.
Sierra Wireless Inc
provided the following explanation of their ownership:
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Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. increased its position in shares of Numerex Corp. by 17.1% in the first quarter. Punch & Associates Investment Management Inc. now owns 324,245 shares of the communications equipment provider’s stock worth $1,547,000 after buying an additional 47,400 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Numerex Corp. by 1.8% in the fourth quarter. Renaissance Technologies LLC now owns 259,800 shares of the communications equipment provider’s stock worth $1,923,000 after buying an additional 4,500 shares during the last quarter. Legal & General Group Plc increased its position in shares of Numerex Corp. by 7,923.3% in the second quarter. Legal & General Group Plc now owns 161,911 shares of the communications equipment provider’s stock worth $798,000 after buying an additional 159,893 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Numerex Corp. during the second quarter worth approximately $170,000. Finally, Princeton Portfolio Strategies Group LLC acquired a new position in shares of Numerex Corp. during the first quarter worth approximately $144,000. 28.38% of the stock is owned by institutional investors and hedge funds.
Numerex Corp. (NASDAQ:NMRX) traded up 1.24% during mid-day trading on Friday, reaching $4.09. 34,849 shares of the company were exchanged. The company has a 50 day moving average of $4.67 and a 200-day moving average of $4.75. The company’s market capitalization is $79.98 million. Numerex Corp. has a 1-year low of $3.86 and a 1-year high of $9.01.
Numerex Corp. (NASDAQ:NMRX) last announced its quarterly earnings data on Tuesday, May 9th. The communications equipment provider reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.09. Numerex Corp. had a negative net margin of 31.82% and a negative return on equity of 23.39%. The firm had revenue of $16.39 million during the quarter, compared to analysts’ expectations of $16.20 million. On average, equities research analysts forecast that Numerex Corp. will post ($0.38) EPS for the current year.
A number of research analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating and issued a $7.50 price target on shares of Numerex Corp. in a report on Monday, May 8th. Canaccord Genuity increased their price target on shares of Numerex Corp. from $4.50 to $5.50 and gave the company a “hold” rating in a report on Wednesday. Finally, Zacks Investment Research raised shares of Numerex Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.
Numerex Corp. Company Profile
Numerex Corp. is a holding company. The Company, through its subsidiaries, provides managed enterprise solutions, which enable the Internet of Things (IoT). The Company offers solutions to incorporate the IoT building blocks, such as device, network, application and platform. Its technology encompasses a range of the IoT ecosystem and delivers solutions for enterprise users.
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