WidePoint (NYSEAMERICAN:WYY) CFO Robert George Sells 10,000 Shares of Stock

WidePoint Corporation (NYSEAMERICAN:WYY) CFO Robert George sold 10,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $10.59, for a total transaction of $105,900.00. Following the completion of the transaction, the chief financial officer directly owned 54,493 shares in the company, valued at approximately $577,080.87. The trade was a 15.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

WidePoint Trading Up 1.4%

WidePoint stock opened at $11.60 on Thursday. The stock has a market cap of $114.72 million, a P/E ratio of -58.00 and a beta of 1.81. WidePoint Corporation has a fifty-two week low of $2.80 and a fifty-two week high of $12.10. The firm’s fifty day moving average price is $7.18 and its 200-day moving average price is $6.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.04.

WidePoint (NYSEAMERICAN:WYY) last announced its earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.13. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. The company had revenue of $40.58 million during the quarter, compared to analyst estimates of $37.87 million. Equities research analysts forecast that WidePoint Corporation will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WYY has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of WidePoint in a research report on Monday, March 30th. Zacks Research upgraded WidePoint from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, WidePoint has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

Institutional Trading of WidePoint

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in WidePoint by 19,130.8% during the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock valued at $25,000 after buying an additional 4,974 shares during the period. PNC Financial Services Group Inc. purchased a new stake in WidePoint during the first quarter valued at about $50,000. Ritholtz Wealth Management purchased a new stake in WidePoint during the fourth quarter valued at about $79,000. XTX Topco Ltd purchased a new stake in WidePoint during the second quarter valued at about $58,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in WidePoint during the first quarter valued at about $87,000. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

WidePoint Company Profile

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.