Potomac Capital Management Inc. Takes $1.05 Million Position in WidePoint Corporation $WYY

Potomac Capital Management Inc. bought a new position in shares of WidePoint Corporation (NYSEAMERICAN:WYY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 195,670 shares of the technology company’s stock, valued at approximately $1,051,000. WidePoint accounts for about 0.8% of Potomac Capital Management Inc.’s holdings, making the stock its 28th largest holding. Potomac Capital Management Inc. owned 1.98% of WidePoint as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of WYY. XTX Topco Ltd bought a new stake in shares of WidePoint during the 2nd quarter worth about $58,000. NewEdge Advisors LLC bought a new stake in shares of WidePoint during the 2nd quarter worth about $74,000. Ritholtz Wealth Management bought a new stake in shares of WidePoint during the 4th quarter worth about $79,000. Jane Street Group LLC bought a new stake in shares of WidePoint during the 2nd quarter worth about $87,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of WidePoint during the 4th quarter worth about $152,000. Institutional investors own 22.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on WYY shares. Zacks Research raised shares of WidePoint from a “strong sell” rating to a “hold” rating in a report on Thursday, May 28th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of WidePoint in a report on Monday, March 30th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.67.

WidePoint Stock Performance

NYSEAMERICAN WYY opened at $11.65 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $115.22 million, a P/E ratio of -58.25 and a beta of 1.81. WidePoint Corporation has a 12-month low of $2.80 and a 12-month high of $12.25. The firm has a 50-day moving average price of $7.69 and a two-hundred day moving average price of $6.45.

WidePoint (NYSEAMERICAN:WYY) last posted its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.13. The firm had revenue of $40.58 million during the quarter, compared to the consensus estimate of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. Analysts anticipate that WidePoint Corporation will post -0.06 earnings per share for the current year.

Insider Transactions at WidePoint

In other WidePoint news, CFO Robert J. George sold 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $10.59, for a total value of $105,900.00. Following the completion of the sale, the chief financial officer owned 54,493 shares of the company’s stock, valued at $577,080.87. The trade was a 15.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 16.10% of the stock is owned by corporate insiders.

About WidePoint

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.