TESSCO Technologies Incorporated (NASDAQ:TESS) Shares Bought by Algert Global LLC
Algert Global LLC increased its stake in TESSCO Technologies Incorporated (NASDAQ:TESS) by 30.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,660 shares of the communications equipment provider’s stock after buying an additional 4,813 shares during the period. Algert Global LLC’s holdings in TESSCO Technologies were worth $275,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. HPM Partners LLC bought a new stake in shares of TESSCO Technologies during the first quarter valued at approximately $322,000. Goldman Sachs Group Inc. boosted its stake in shares of TESSCO Technologies by 103.7% in the first quarter. Goldman Sachs Group Inc. now owns 21,191 shares of the communications equipment provider’s stock valued at $333,000 after buying an additional 10,789 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of TESSCO Technologies during the fourth quarter valued at $350,000. Stifel Financial Corp boosted its stake in shares of TESSCO Technologies by 3.6% in the first quarter. Stifel Financial Corp now owns 25,682 shares of the communications equipment provider’s stock valued at $398,000 after buying an additional 900 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of TESSCO Technologies by 9.0% in the first quarter. Acadian Asset Management LLC now owns 29,726 shares of the communications equipment provider’s stock valued at $468,000 after buying an additional 2,462 shares during the period. 59.73% of the stock is owned by institutional investors and hedge funds.
Shares of TESSCO Technologies Incorporated (TESS) opened at 13.20 on Friday. TESSCO Technologies Incorporated has a 52 week low of $9.75 and a 52 week high of $16.25. The firm has a market cap of $110.48 million, a PE ratio of 55.00 and a beta of 1.25. The firm has a 50-day moving average of $13.78 and a 200 day moving average of $14.04.
TESSCO Technologies (NASDAQ:TESS) last issued its earnings results on Tuesday, July 18th. The communications equipment provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $140.01 million during the quarter, compared to analyst estimates of $126.68 million. TESSCO Technologies had a net margin of 0.38% and a return on equity of 2.36%. Equities research analysts predict that TESSCO Technologies Incorporated will post $0.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 6.06%. TESSCO Technologies’s dividend payout ratio is presently 320.00%.
Separately, Zacks Investment Research upgraded shares of TESSCO Technologies from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday, July 21st.
TESSCO Technologies Company Profile
TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.
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