Pendrell Corporation (NASDAQ:PCO) major shareholder James D. Dondero sold 9,428 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $6.44, for a total transaction of $60,716.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Pendrell Corporation (NASDAQ PCO) traded down 1.73% during midday trading on Thursday, reaching $6.24. 32,517 shares of the company traded hands. The company has a 50-day moving average price of $6.96 and a 200-day moving average price of $6.50. The company has a market cap of $149.55 million, a price-to-earnings ratio of 26.78 and a beta of 0.87. Pendrell Corporation has a 12-month low of $5.89 and a 12-month high of $7.61.

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An institutional investor recently raised its position in Pendrell Corporation stock. Bank of New York Mellon Corp raised its position in shares of Pendrell Corporation (NASDAQ:PCO) by 213.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,452 shares of the business services provider’s stock after buying an additional 28,209 shares during the period. Bank of New York Mellon Corp owned 0.17% of Pendrell Corporation worth $300,000 at the end of the most recent reporting period. Institutional investors own 30.57% of the company’s stock.

Pendrell Corporation Company Profile

Pendrell Corporation is engaged in the business of licensing and selling intellectual property (IP) rights to others. The Company invests in, acquires and monetizes IP rights. The Company’s subsidiaries hold patents that support over four IP licensing programs that it owns and manages, such as digital media, digital cinema, wireless technologies, and memory and storage technologies.

Insider Buying and Selling by Quarter for Pendrell Corporation (NASDAQ:PCO)

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