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Novatel Wireless (NASDAQ:NVTL) major shareholder Bruce A. Karsh bought 261,803 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $1.84 per share, for a total transaction of $481,717.52. Following the completion of the acquisition, the insider now directly owns 3,286,803 shares in the company, valued at approximately $6,047,718. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Novatel Wireless (NASDAQ:NVTL) traded up 4.15% during mid-day trading on Thursday, hitting $2.01. 284,670 shares of the company’s stock traded hands. Novatel Wireless has a one year low of $1.51 and a one year high of $3.40. The stock’s 50-day moving average is $1.89 and its 200-day moving average is $2.00. The company’s market cap is $69.0 million.

Novatel Wireless (NASDAQ:NVTL) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.33) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.19) by $0.14. The company had revenue of $37.30 million for the quarter, compared to the consensus estimate of $41.30 million. During the same quarter last year, the company posted ($0.20) earnings per share. Novatel Wireless’s revenue was down 59.1% compared to the same quarter last year. Analysts expect that Novatel Wireless will post $-0.86 EPS for the current fiscal year.

Novatel Wireless, Inc (NASDAQ:NVTL) is a provider of wireless solutions for the worldwide mobile communications markets.

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