TransAct Technologies (TACT) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of TransAct Technologies (NASDAQ:TACT) from a buy rating to a hold rating in a research note published on Friday morning.
According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “
Other analysts also recently issued reports about the company. B. Riley reaffirmed a buy rating and set a $11.00 price target on shares of TransAct Technologies in a research report on Friday, October 27th. ValuEngine raised TransAct Technologies from a hold rating to a buy rating in a research report on Thursday, November 2nd.
Shares of TransAct Technologies (TACT) traded up $0.20 during trading on Friday, hitting $13.50. The stock had a trading volume of 62,800 shares, compared to its average volume of 35,440. The stock has a market capitalization of $99.07, a P/E ratio of 20.45 and a beta of 0.91. TransAct Technologies has a 12-month low of $6.75 and a 12-month high of $15.55.
TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.12 by $0.12. The firm had revenue of $15.52 million during the quarter, compared to the consensus estimate of $14.58 million. TransAct Technologies had a return on equity of 19.99% and a net margin of 8.78%. equities analysts forecast that TransAct Technologies will post 0.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, November 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Friday, November 17th. TransAct Technologies’s payout ratio is 54.55%.
In related news, SVP Andrew John Hoffman sold 30,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $13.01, for a total transaction of $390,300.00. Following the completion of the sale, the senior vice president now directly owns 14,791 shares of the company’s stock, valued at $192,430.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Graham Y. Tanaka sold 2,095 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $13.39, for a total value of $28,052.05. Following the sale, the director now directly owns 194,153 shares of the company’s stock, valued at $2,599,708.67. The disclosure for this sale can be found here. Insiders have sold 102,663 shares of company stock valued at $1,360,511 over the last ninety days. 13.22% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. B. Riley Financial Inc. grew its holdings in TransAct Technologies by 80.3% during the third quarter. B. Riley Financial Inc. now owns 132,047 shares of the technology company’s stock valued at $1,305,000 after purchasing an additional 58,793 shares during the period. Algert Global LLC grew its holdings in TransAct Technologies by 30.3% during the third quarter. Algert Global LLC now owns 53,883 shares of the technology company’s stock valued at $525,000 after purchasing an additional 12,529 shares during the period. LSV Asset Management grew its holdings in TransAct Technologies by 55.5% during the second quarter. LSV Asset Management now owns 50,600 shares of the technology company’s stock valued at $430,000 after purchasing an additional 18,070 shares during the period. Macquarie Group Ltd. bought a new position in TransAct Technologies during the third quarter valued at $123,000. Finally, Dimensional Fund Advisors LP grew its holdings in TransAct Technologies by 2.4% during the third quarter. Dimensional Fund Advisors LP now owns 243,683 shares of the technology company’s stock valued at $2,376,000 after purchasing an additional 5,607 shares during the period. 38.27% of the stock is owned by institutional investors and hedge funds.
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About TransAct Technologies
TransAct Technologies Incorporated (TransAct) designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. The Company operates through the segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts.
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