Globeflex Capital L P Has $147,000 Stake in PC-Tel, Inc. (PCTI)
Globeflex Capital L P lessened its stake in shares of PC-Tel, Inc. (NASDAQ:PCTI) by 40.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,824 shares of the Wireless communications provider’s stock after selling 14,409 shares during the period. Globeflex Capital L P owned 0.13% of PC-Tel worth $147,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of PCTI. Chartwell Investment Partners LLC raised its holdings in shares of PC-Tel by 19.8% during the 2nd quarter. Chartwell Investment Partners LLC now owns 1,535,207 shares of the Wireless communications provider’s stock worth $10,869,000 after acquiring an additional 253,409 shares during the period. Algert Global LLC raised its holdings in shares of PC-Tel by 364.0% during the 2nd quarter. Algert Global LLC now owns 278,435 shares of the Wireless communications provider’s stock worth $1,971,000 after acquiring an additional 218,425 shares during the period. Royce & Associates LP raised its holdings in shares of PC-Tel by 507.8% during the 2nd quarter. Royce & Associates LP now owns 207,269 shares of the Wireless communications provider’s stock worth $1,467,000 after acquiring an additional 173,169 shares during the period. Renaissance Technologies LLC raised its holdings in shares of PC-Tel by 9.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,367,099 shares of the Wireless communications provider’s stock worth $9,734,000 after acquiring an additional 115,800 shares during the period. Finally, SG Capital Management LLC purchased a new position in shares of PC-Tel during the 2nd quarter worth $772,000. Institutional investors and hedge funds own 71.36% of the company’s stock.
Shares of PC-Tel, Inc. (NASDAQ:PCTI) opened at 6.30 on Friday. PC-Tel, Inc. has a one year low of $4.86 and a one year high of $8.48. The company has a 50-day moving average of $6.32 and a 200 day moving average of $6.72. The stock’s market capitalization is $104.74 million.
PC-Tel (NASDAQ:PCTI) last released its earnings results on Tuesday, August 8th. The Wireless communications provider reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. PC-Tel had a positive return on equity of 1.60% and a negative net margin of 5.61%. The firm had revenue of $21.50 million for the quarter, compared to the consensus estimate of $24.09 million. During the same period in the prior year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts forecast that PC-Tel, Inc. will post $0.24 earnings per share for the current fiscal year.
Separately, B. Riley reiterated a “buy” rating and set a $8.50 price target on shares of PC-Tel in a report on Monday, August 14th.
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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