Putnam Investments LLC purchased a new stake in shares of TESSCO Technologies, Inc. (NASDAQ:TESS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the communications equipment provider’s stock, valued at approximately $1,730,000. Putnam Investments LLC owned approximately 1.19% of TESSCO Technologies at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Deprince Race & Zollo Inc. increased its position in TESSCO Technologies by 12.8% in the second quarter. Deprince Race & Zollo Inc. now owns 861,600 shares of the communications equipment provider’s stock worth $14,906,000 after buying an additional 97,829 shares during the period. Dimensional Fund Advisors LP increased its position in TESSCO Technologies by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 602,618 shares of the communications equipment provider’s stock worth $10,425,000 after buying an additional 57,479 shares during the period. Renaissance Technologies LLC increased its position in TESSCO Technologies by 17.3% in the second quarter. Renaissance Technologies LLC now owns 445,500 shares of the communications equipment provider’s stock worth $7,707,000 after buying an additional 65,801 shares during the period. Ancora Advisors LLC increased its position in TESSCO Technologies by 49.6% in the first quarter. Ancora Advisors LLC now owns 443,289 shares of the communications equipment provider’s stock worth $10,262,000 after buying an additional 146,972 shares during the period. Finally, 22NW LP increased its position in TESSCO Technologies by 26.5% in the second quarter. 22NW LP now owns 275,869 shares of the communications equipment provider’s stock worth $4,773,000 after buying an additional 57,858 shares during the period. 62.90% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the company. TheStreet lowered TESSCO Technologies from a “b-” rating to a “c+” rating in a research report on Thursday, June 14th. ValuEngine raised TESSCO Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd.

Shares of NASDAQ TESS opened at $15.40 on Friday. TESSCO Technologies, Inc. has a 1-year low of $12.35 and a 1-year high of $24.85. The firm has a market capitalization of $131.88 million, a price-to-earnings ratio of 26.08 and a beta of 1.30.

TESSCO Technologies (NASDAQ:TESS) last issued its earnings results on Monday, July 16th. The communications equipment provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.17). TESSCO Technologies had a return on equity of 4.75% and a net margin of 0.87%. The company had revenue of $150.92 million during the quarter.

In other news, Director Robert B. Barnhill, Jr. sold 9,988 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $17.91, for a total transaction of $178,885.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert B. Barnhill, Jr. sold 22,603 shares of the firm’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $18.30, for a total value of $413,634.90. The disclosure for this sale can be found here. Insiders sold 42,300 shares of company stock worth $764,272 over the last ninety days. 27.60% of the stock is owned by corporate insiders.

TESSCO Technologies Profile

TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.

Featured Article: Dividend Stocks – Are They Right For You?

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

Receive News & Ratings for TESSCO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TESSCO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.