Cove Street Capital LLC reduced its holdings in Westell Technologies, Inc. (NASDAQ:WSTL) by 81.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,354,555 shares of the communications equipment provider’s stock after selling 5,758,109 shares during the quarter. Cove Street Capital LLC owned about 8.76% of Westell Technologies worth $4,240,000 at the end of the most recent quarter.

Separately, Renaissance Technologies LLC grew its stake in Westell Technologies by 2.7% in the first quarter. Renaissance Technologies LLC now owns 3,773,429 shares of the communications equipment provider’s stock valued at $2,641,000 after acquiring an additional 100,900 shares during the period. 27.18% of the stock is currently owned by institutional investors.

A number of brokerages have commented on WSTL. Northland Securities set a $6.00 price objective on Westell Technologies and gave the company a “buy” rating in a research note on Friday, August 11th. ValuEngine raised Westell Technologies from a “sell” rating to a “hold” rating in a research note on Friday, June 9th.

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Shares of Westell Technologies, Inc. (WSTL) traded up 2.05% during midday trading on Friday, reaching $2.98. The company’s stock had a trading volume of 34,056 shares. The stock has a 50-day moving average price of $3.06 and a 200-day moving average price of $2.88. Westell Technologies, Inc. has a 52-week low of $1.76 and a 52-week high of $3.80. The stock’s market cap is $45.90 million.

Westell Technologies (NASDAQ:WSTL) last announced its earnings results on Wednesday, August 9th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Westell Technologies had a negative return on equity of 1.07% and a negative net margin of 13.51%. The firm had revenue of $16.57 million during the quarter, compared to the consensus estimate of $15.36 million. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s revenue was up 11.9% on a year-over-year basis. Equities research analysts anticipate that Westell Technologies, Inc. will post $0.10 earnings per share for the current fiscal year.

Westell Technologies Profile

Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).

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Institutional Ownership by Quarter for Westell Technologies (NASDAQ:WSTL)

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