Royce & Associates LP Boosts Stake in Airgain, Inc. (AIRG)
Royce & Associates LP increased its stake in Airgain, Inc. (NASDAQ:AIRG) by 60.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 445,023 shares of the technology company’s stock after buying an additional 168,500 shares during the period. Royce & Associates LP’s holdings in Airgain were worth $6,747,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Airgain during the fourth quarter valued at about $1,442,000. Tudor Investment Corp Et Al bought a new position in shares of Airgain during the fourth quarter valued at about $144,000. Worth Venture Partners LLC bought a new position in shares of Airgain during the first quarter valued at about $605,000. Systematic Financial Management LP bought a new position in shares of Airgain during the fourth quarter valued at about $2,425,000. Finally, Soros Fund Management LLC bought a new position in shares of Airgain during the fourth quarter valued at about $2,400,000. Institutional investors and hedge funds own 33.89% of the company’s stock.
Shares of Airgain, Inc. (NASDAQ AIRG) traded up 1.42% on Friday, reaching $14.29. 55,538 shares of the company traded hands. Airgain, Inc. has a one year low of $9.76 and a one year high of $29.30. The company has a market capitalization of $136.04 million and a P/E ratio of 35.81. The firm’s 50 day moving average is $14.11 and its 200 day moving average is $14.97.
Airgain (NASDAQ:AIRG) last released its earnings results on Wednesday, May 3rd. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. The firm had revenue of $11.25 million for the quarter, compared to analysts’ expectations of $9.98 million. Airgain had a return on equity of 24.84% and a net margin of 8.62%. The business’s revenue for the quarter was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.82) earnings per share. Analysts expect that Airgain, Inc. will post $0.42 earnings per share for the current fiscal year.
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Several research analysts recently issued reports on AIRG shares. Zacks Investment Research upgraded shares of Airgain from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, February 28th. Cowen and Company reiterated an “outperform” rating and set a $22.00 price target on shares of Airgain in a research report on Monday, March 6th. Six research analysts have rated the stock with a buy rating, Airgain presently has an average rating of “Buy” and an average price target of $18.90.
In other news, Director Thomas A. Munro sold 22,000 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $14.61, for a total transaction of $321,420.00. Following the sale, the director now directly owns 4,000 shares in the company, valued at $58,440. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arthur M. Toscanini sold 28,500 shares of the business’s stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $15.23, for a total value of $434,055.00. Following the sale, the director now owns 87,474 shares in the company, valued at $1,332,229.02. The disclosure for this sale can be found here.
Airgain, Inc is a provider of embedded antenna technologies used to enable wireless networking across a range of home, enterprise and industrial devices. The Company’s antennas are found in devices deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways and digital televisions.
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