PC-Tel, Inc. (PCTI) Director Brian J. Jackman Sells 10,000 Shares of Stock
PC-Tel, Inc. (NASDAQ:PCTI) Director Brian J. Jackman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $7.21, for a total transaction of $72,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
PC-Tel, Inc. (PCTI) traded up $0.18 during mid-day trading on Friday, hitting $7.52. 40,800 shares of the stock were exchanged, compared to its average volume of 45,907. PC-Tel, Inc. has a twelve month low of $4.92 and a twelve month high of $8.48. The firm has a market capitalization of $133.31, a price-to-earnings ratio of 66.73 and a beta of 0.62.
PC-Tel (NASDAQ:PCTI) last released its quarterly earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. PC-Tel had a negative net margin of 4.86% and a positive return on equity of 2.14%. The business had revenue of $23.70 million for the quarter, compared to analyst estimates of $23.11 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. equities research analysts predict that PC-Tel, Inc. will post 0.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.055 per share. The ex-dividend date was Tuesday, November 7th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.93%. PC-Tel’s dividend payout ratio is currently -75.86%.
Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in shares of PC-Tel during the third quarter valued at approximately $101,000. Eagle Global Advisors LLC acquired a new stake in shares of PC-Tel during the second quarter valued at approximately $102,000. Susquehanna International Group LLP acquired a new stake in shares of PC-Tel during the second quarter valued at approximately $114,000. JPMorgan Chase & Co. raised its holdings in shares of PC-Tel by 1,048.2% during the second quarter. JPMorgan Chase & Co. now owns 19,347 shares of the Wireless communications provider’s stock valued at $137,000 after acquiring an additional 17,662 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of PC-Tel during the second quarter valued at approximately $143,000. Institutional investors and hedge funds own 73.43% of the company’s stock.
Separately, B. Riley reiterated a “buy” rating and issued a $8.50 target price on shares of PC-Tel in a report on Thursday, November 9th.
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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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