Ritholtz Wealth Management Makes New Investment in Frequency Electronics, Inc. $FEIM

Ritholtz Wealth Management acquired a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,197 shares of the communications equipment provider’s stock, valued at approximately $232,000.

A number of other large investors also recently bought and sold shares of FEIM. Goldman Sachs Group Inc. raised its position in Frequency Electronics by 67.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock worth $853,000 after buying an additional 21,934 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Frequency Electronics in the 1st quarter valued at about $331,000. Apis Capital Advisors LLC purchased a new position in shares of Frequency Electronics in the 1st quarter valued at about $313,000. Cubist Systematic Strategies LLC purchased a new position in shares of Frequency Electronics in the 1st quarter valued at about $183,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Frequency Electronics in the 1st quarter valued at about $180,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FEIM shares. Wall Street Zen upgraded shares of Frequency Electronics from a “sell” rating to a “hold” rating in a report on Saturday. Craig Hallum started coverage on shares of Frequency Electronics in a report on Thursday, September 18th. They issued a “buy” rating and a $43.00 price target for the company. UBS Group set a $43.00 price target on shares of Frequency Electronics in a report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Frequency Electronics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Frequency Electronics presently has an average rating of “Buy” and an average price target of $43.00.

Frequency Electronics Price Performance

Frequency Electronics stock opened at $36.01 on Wednesday. Frequency Electronics, Inc. has a 12-month low of $12.17 and a 12-month high of $39.74. The stock has a market capitalization of $351.06 million, a P/E ratio of 15.72 and a beta of 0.51. The firm’s 50-day moving average is $32.44 and its two-hundred day moving average is $24.72.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). Frequency Electronics had a return on equity of 44.02% and a net margin of 32.10%.The firm had revenue of $13.81 million for the quarter, compared to analyst estimates of $16.53 million. During the same period in the prior year, the business earned $0.25 earnings per share.

Frequency Electronics Company Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.