Acadian Asset Management LLC lifted its stake in shares of TESSCO Technologies, Inc. (NASDAQ:TESS) by 25.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,149 shares of the communications equipment provider’s stock after purchasing an additional 3,243 shares during the period. Acadian Asset Management LLC’s holdings in TESSCO Technologies were worth $325,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Deprince Race & Zollo Inc. grew its position in shares of TESSCO Technologies by 7.2% during the third quarter. Deprince Race & Zollo Inc. now owns 792,932 shares of the communications equipment provider’s stock worth $9,872,000 after buying an additional 53,216 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in TESSCO Technologies by 3.9% in the third quarter. Dimensional Fund Advisors LP now owns 496,166 shares of the communications equipment provider’s stock valued at $6,177,000 after purchasing an additional 18,502 shares in the last quarter. Tieton Capital Management LLC boosted its holdings in TESSCO Technologies by 15.5% in the third quarter. Tieton Capital Management LLC now owns 318,499 shares of the communications equipment provider’s stock valued at $3,965,000 after purchasing an additional 42,644 shares in the last quarter. Vanguard Group Inc. boosted its holdings in TESSCO Technologies by 62.6% in the second quarter. Vanguard Group Inc. now owns 314,667 shares of the communications equipment provider’s stock valued at $4,185,000 after purchasing an additional 121,192 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in TESSCO Technologies by 9.0% in the third quarter. Moors & Cabot Inc. now owns 80,678 shares of the communications equipment provider’s stock valued at $1,001,000 after purchasing an additional 6,646 shares in the last quarter. 58.29% of the stock is owned by institutional investors and hedge funds.

TESSCO Technologies, Inc. (NASDAQ TESS) opened at $22.00 on Tuesday. The stock has a market capitalization of $183.70, a P/E ratio of 57.90 and a beta of 1.37. TESSCO Technologies, Inc. has a fifty-two week low of $12.15 and a fifty-two week high of $23.65.

TESSCO Technologies (NASDAQ:TESS) last announced its quarterly earnings results on Tuesday, January 23rd. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.11. The firm had revenue of $146.26 million during the quarter, compared to the consensus estimate of $144.00 million. TESSCO Technologies had a return on equity of 3.43% and a net margin of 0.57%. research analysts predict that TESSCO Technologies, Inc. will post 0.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, February 13th. TESSCO Technologies’s dividend payout ratio (DPR) is 210.53%.

In other TESSCO Technologies news, Director Morton Zifferer sold 3,235 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $22.60, for a total value of $73,111.00. Following the completion of the sale, the director now owns 77,839 shares in the company, valued at $1,759,161.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 26.90% of the company’s stock.

A number of brokerages recently issued reports on TESS. Zacks Investment Research raised TESSCO Technologies from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Saturday, January 27th. TheStreet raised TESSCO Technologies from a “c+” rating to a “b-” rating in a report on Monday, December 11th.

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TESSCO Technologies Company Profile

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.

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

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