Zacks: pdvWireless Inc (PDVW) Given Consensus Rating of “Strong Buy” by Analysts
pdvWireless Inc (NASDAQ:PDVW) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokerages have set a twelve-month consensus target price of $59.00 for the company and are anticipating that the company will post ($0.65) EPS for the current quarter, according to Zacks. Zacks has also given pdvWireless an industry rank of 185 out of 255 based on the ratings given to its competitors.
Several research analysts have recently commented on PDVW shares. BidaskClub downgraded pdvWireless from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. ValuEngine upgraded pdvWireless from a “hold” rating to a “buy” rating in a research note on Saturday, May 12th. Zacks Investment Research downgraded pdvWireless from a “hold” rating to a “sell” rating in a research note on Friday, June 15th. Finally, TheStreet downgraded pdvWireless from a “c-” rating to a “d+” rating in a research note on Thursday, June 28th.
pdvWireless (NASDAQ:PDVW) last issued its earnings results on Tuesday, June 5th. The wireless provider reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.04). pdvWireless had a negative return on equity of 16.09% and a negative net margin of 517.89%. The business had revenue of $1.78 million for the quarter, compared to the consensus estimate of $1.55 million. research analysts anticipate that pdvWireless will post -2.97 earnings per share for the current fiscal year.
In other news, major shareholder Owl Creek Asset Management, L. purchased 1,564 shares of pdvWireless stock in a transaction that occurred on Monday, July 9th. The stock was acquired at an average cost of $26.18 per share, for a total transaction of $40,945.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Bravo Fund Ii L.P. Pimco sold 25,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $32.30, for a total value of $807,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 148,121 shares of company stock valued at $3,858,105 and sold 26,644 shares valued at $849,342. Insiders own 12.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PDVW. Dimensional Fund Advisors LP bought a new stake in pdvWireless in the 2nd quarter valued at $1,238,000. Serengeti Asset Management LP bought a new stake in pdvWireless in the 2nd quarter valued at $1,198,000. BlackRock Inc. boosted its stake in pdvWireless by 7.1% in the 2nd quarter. BlackRock Inc. now owns 683,937 shares of the wireless provider’s stock valued at $17,064,000 after purchasing an additional 45,248 shares during the period. Renaissance Technologies LLC boosted its stake in pdvWireless by 560.0% in the 2nd quarter. Renaissance Technologies LLC now owns 49,500 shares of the wireless provider’s stock valued at $1,235,000 after purchasing an additional 42,000 shares during the period. Finally, Citadel Advisors LLC bought a new stake in pdvWireless in the 2nd quarter valued at $366,000. Institutional investors and hedge funds own 90.56% of the company’s stock.
pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers primarily in the United States. It offers TeamConnect service, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.
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