pdvWireless (PDVW) Upgraded to “Hold” by ValuEngine
ValuEngine upgraded shares of pdvWireless (NASDAQ:PDVW) from a sell rating to a hold rating in a report issued on Friday.
PDVW has been the topic of a number of other reports. Zacks Investment Research raised shares of pdvWireless from a hold rating to a buy rating and set a $36.00 price objective on the stock in a research note on Friday, January 5th. B. Riley reissued a buy rating and issued a $59.00 price objective on shares of pdvWireless in a research note on Friday, December 15th. Finally, BidaskClub raised shares of pdvWireless from a buy rating to a strong-buy rating in a research note on Friday, December 15th.
pdvWireless (NASDAQ PDVW) traded down $2.25 during midday trading on Friday, hitting $33.40. 20,141 shares of the stock were exchanged, compared to its average volume of 12,245. pdvWireless has a 52 week low of $18.70 and a 52 week high of $36.40. The firm has a market capitalization of $451.12 and a P/E ratio of -12.90.
In other pdvWireless news, EVP Richard E. Rohmann sold 900 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $33.45, for a total transaction of $30,105.00. Following the sale, the executive vice president now owns 11,309 shares of the company’s stock, valued at $378,286.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Owl Creek Asset Management, L. bought 99,409 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $31.91 per share, for a total transaction of $3,172,141.19. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 332,384 shares of company stock worth $10,445,165 and have sold 2,700 shares worth $85,410. Insiders own 10.91% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its stake in shares of pdvWireless by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 33,852 shares of the wireless provider’s stock worth $789,000 after buying an additional 209 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of pdvWireless by 2.2% during the second quarter. Teachers Advisors LLC now owns 18,031 shares of the wireless provider’s stock worth $420,000 after buying an additional 391 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of pdvWireless by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock worth $190,000 after buying an additional 448 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of pdvWireless by 2.4% during the second quarter. Northern Trust Corp now owns 118,630 shares of the wireless provider’s stock worth $2,765,000 after purchasing an additional 2,768 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of pdvWireless during the third quarter worth $212,000. 91.92% of the stock is currently owned by hedge funds and other institutional investors.
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pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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