TransAct Technologies (NASDAQ:TACT) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

TransAct Technologies (NASDAQ:TACT) released its quarterly earnings results on Tuesday. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.11, FiscalAI reports. The firm had revenue of $14.42 million for the quarter, compared to the consensus estimate of $12.60 million. TransAct Technologies had a negative net margin of 2.41% and a negative return on equity of 3.96%.

TransAct Technologies Trading Up 2.7%

TACT traded up $0.09 on Tuesday, hitting $3.37. 216,994 shares of the company’s stock were exchanged, compared to its average volume of 40,332. The firm has a market cap of $34.64 million, a PE ratio of -28.08 and a beta of 1.16. TransAct Technologies has a twelve month low of $3.06 and a twelve month high of $5.70. The stock has a fifty day moving average of $3.36 and a two-hundred day moving average of $3.82.

Insiders Place Their Bets

In other TransAct Technologies news, CEO John Dillon acquired 70,902 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average price of $3.49 per share, for a total transaction of $247,447.98. Following the completion of the purchase, the chief executive officer directly owned 100,000 shares in the company, valued at $349,000. The trade was a 243.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 19.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TACT. Heron Bay Capital Management acquired a new position in TransAct Technologies during the 4th quarter valued at about $236,000. NewEdge Advisors LLC acquired a new position in TransAct Technologies during the 3rd quarter valued at about $290,000. Susquehanna International Group LLP acquired a new position in TransAct Technologies during the 3rd quarter valued at about $225,000. Arrowstreet Capital Limited Partnership acquired a new position in TransAct Technologies during the 3rd quarter valued at about $151,000. Finally, Renaissance Technologies LLC boosted its stake in TransAct Technologies by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock valued at $1,670,000 after purchasing an additional 18,122 shares during the period. 74.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TACT shares. Zacks Research downgraded shares of TransAct Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of TransAct Technologies in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, TransAct Technologies has a consensus rating of “Hold” and an average target price of $5.00.

TransAct Technologies Company Profile

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.