Macquarie Group Ltd. acquired a new position in TESSCO Technologies, Inc. (NASDAQ:TESS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,749 shares of the communications equipment provider’s stock, valued at approximately $395,000. Macquarie Group Ltd. owned approximately 0.38% of TESSCO Technologies as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TESS. Goldman Sachs Group Inc. boosted its stake in shares of TESSCO Technologies by 8.2% in the second quarter. Goldman Sachs Group Inc. now owns 22,935 shares of the communications equipment provider’s stock valued at $305,000 after purchasing an additional 1,744 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of TESSCO Technologies by 4.0% in the second quarter. Russell Investments Group Ltd. now owns 26,517 shares of the communications equipment provider’s stock valued at $353,000 after purchasing an additional 1,031 shares during the period. Stifel Financial Corp boosted its stake in shares of TESSCO Technologies by 26.5% in the second quarter. Stifel Financial Corp now owns 32,500 shares of the communications equipment provider’s stock valued at $434,000 after purchasing an additional 6,818 shares during the period. Northern Trust Corp boosted its stake in shares of TESSCO Technologies by 1.8% in the second quarter. Northern Trust Corp now owns 71,148 shares of the communications equipment provider’s stock valued at $945,000 after purchasing an additional 1,228 shares during the period. Finally, Crawford Investment Counsel Inc. boosted its stake in shares of TESSCO Technologies by 1.4% in the second quarter. Crawford Investment Counsel Inc. now owns 87,101 shares of the communications equipment provider’s stock valued at $1,158,000 after purchasing an additional 1,226 shares during the period. 58.25% of the stock is owned by institutional investors.

TESSCO Technologies, Inc. (NASDAQ:TESS) opened at $16.80 on Friday. The firm has a market cap of $139.08, a price-to-earnings ratio of 42.56 and a beta of 1.31. TESSCO Technologies, Inc. has a 52 week low of $12.15 and a 52 week high of $18.00.

TESSCO Technologies (NASDAQ:TESS) last announced its earnings results on Monday, October 23rd. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.11. TESSCO Technologies had a net margin of 0.51% and a return on equity of 3.09%. The business had revenue of $145.08 million during the quarter, compared to the consensus estimate of $141.97 million. analysts forecast that TESSCO Technologies, Inc. will post 0.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.80 dividend on an annualized basis and a yield of 4.76%. TESSCO Technologies’s dividend payout ratio (DPR) is 235.29%.

Several research analysts have recently weighed in on the stock. TheStreet upgraded shares of TESSCO Technologies from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Zacks Investment Research upgraded shares of TESSCO Technologies from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research note on Friday, October 27th.

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About TESSCO Technologies

TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.

Institutional Ownership by Quarter for TESSCO Technologies (NASDAQ:TESS)

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