Spark Investment Management LLC Maintains Position in PC-Tel, Inc. (PCTI)
Spark Investment Management LLC maintained its stake in PC-Tel, Inc. (NASDAQ:PCTI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,400 shares of the Wireless communications provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in PC-Tel were worth $271,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in PCTI. Eagle Global Advisors LLC purchased a new stake in PC-Tel during the second quarter valued at approximately $102,000. Goldman Sachs Group Inc. boosted its stake in PC-Tel by 104.4% in the first quarter. Goldman Sachs Group Inc. now owns 69,441 shares of the Wireless communications provider’s stock valued at $494,000 after buying an additional 35,476 shares during the last quarter. Renaissance Technologies LLC boosted its stake in PC-Tel by 9.3% in the first quarter. Renaissance Technologies LLC now owns 1,367,099 shares of the Wireless communications provider’s stock valued at $9,734,000 after buying an additional 115,800 shares during the last quarter. Morgan Stanley boosted its stake in PC-Tel by 28.4% in the first quarter. Morgan Stanley now owns 166,885 shares of the Wireless communications provider’s stock valued at $1,188,000 after buying an additional 36,919 shares during the last quarter. Finally, Globeflex Capital L P boosted its stake in PC-Tel by 14,519.5% in the first quarter. Globeflex Capital L P now owns 35,233 shares of the Wireless communications provider’s stock valued at $251,000 after buying an additional 34,992 shares during the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.
Shares of PC-Tel, Inc. (NASDAQ PCTI) opened at 6.28 on Wednesday. The stock’s market capitalization is $111.73 million. The stock’s 50 day moving average is $7.02 and its 200 day moving average is $6.62. PC-Tel, Inc. has a 52 week low of $4.80 and a 52 week high of $8.48.
PC-Tel (NASDAQ:PCTI) last issued its quarterly earnings results on Tuesday, August 8th. The Wireless communications provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business had revenue of $21.50 million during the quarter, compared to the consensus estimate of $24.09 million. PC-Tel had a negative net margin of 5.61% and a positive return on equity of 1.60%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 EPS. Analysts anticipate that PC-Tel, Inc. will post $0.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 8th were given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, August 4th. This is an increase from PC-Tel’s previous quarterly dividend of $0.05. PC-Tel’s dividend payout ratio is -64.70%.
Several analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and issued a $8.50 target price on shares of PC-Tel in a research note on Monday. Wunderlich cut shares of PC-Tel from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Wednesday, May 10th. Finally, Zacks Investment Research cut shares of PC-Tel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th.
PC-Tel Company Profile
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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