Giacomo Marini Sells 1,842 Shares of PC-Tel, Inc. (PCTI) Stock
PC-Tel, Inc. (NASDAQ:PCTI) Director Giacomo Marini sold 1,842 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $7.54, for a total value of $13,888.68. Following the completion of the sale, the director now owns 1,542 shares in the company, valued at $11,626.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
PC-Tel, Inc. (NASDAQ PCTI) traded up $0.05 during mid-day trading on Wednesday, reaching $7.48. The company’s stock had a trading volume of 11,200 shares, compared to its average volume of 77,844. The company has a market capitalization of $132.60, a PE ratio of 69.82 and a beta of 0.62. PC-Tel, Inc. has a 12 month low of $4.90 and a 12 month high of $8.48.
PC-Tel (NASDAQ:PCTI) last posted its earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $23.70 million for the quarter, compared to analysts’ expectations of $23.11 million. PC-Tel had a positive return on equity of 2.14% and a negative net margin of 4.86%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business posted $0.07 earnings per share. equities analysts forecast that PC-Tel, Inc. will post 0.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Tuesday, November 7th. PC-Tel’s payout ratio is -75.86%.
Separately, B. Riley reiterated a “buy” rating and issued a $8.50 target price on shares of PC-Tel in a research note on Thursday, November 9th.
A number of hedge funds have recently bought and sold shares of the business. Algert Global LLC lifted its stake in PC-Tel by 17.6% in the third quarter. Algert Global LLC now owns 327,350 shares of the Wireless communications provider’s stock valued at $2,062,000 after buying an additional 48,915 shares during the last quarter. Royce & Associates LP lifted its stake in PC-Tel by 22.4% in the third quarter. Royce & Associates LP now owns 253,769 shares of the Wireless communications provider’s stock valued at $1,599,000 after buying an additional 46,500 shares during the last quarter. OxFORD Asset Management LLP lifted its stake in PC-Tel by 92.3% in the third quarter. OxFORD Asset Management LLP now owns 43,023 shares of the Wireless communications provider’s stock valued at $271,000 after buying an additional 20,650 shares during the last quarter. Citadel Advisors LLC bought a new stake in PC-Tel in the third quarter valued at $101,000. Finally, JPMorgan Chase & Co. lifted its stake in PC-Tel by 138.8% in the third quarter. JPMorgan Chase & Co. now owns 46,198 shares of the Wireless communications provider’s stock valued at $291,000 after buying an additional 26,851 shares during the last quarter. Institutional investors own 73.43% of the company’s stock.
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PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.
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