Insider Selling: Drew A. Morin Sells 10,000 Shares of TeleCommunication Systems Stock (TSYS)
TeleCommunication Systems (NASDAQ:TSYS) VP Drew A. Morin sold 10,000 shares of TeleCommunication Systems stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $2.86, for a total value of $28,600.00. Following the transaction, the vice president now directly owns 434,203 shares in the company, valued at approximately $1,241,821. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
TeleCommunication Systems (NASDAQ:TSYS) traded down 0.68% during mid-day trading on Wednesday, hitting $2.90. The stock had a trading volume of 162,597 shares. TeleCommunication Systems has a 1-year low of $2.08 and a 1-year high of $3.59. The stock has a 50-day moving average of $3.0 and a 200-day moving average of $2.85. The company’s market cap is $172.7 million.
TeleCommunication Systems (NASDAQ:TSYS) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $86.20 million for the quarter, compared to the consensus estimate of $86.34 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts predict that TeleCommunication Systems will post $0.21 earnings per share for the current fiscal year.
A number of research firms have recently commented on TSYS. Analysts at Ladenburg Thalmann initiated coverage on shares of TeleCommunication Systems in a research note on Tuesday. They set a “buy” rating and a $5.00 price target on the stock. Analysts at Zacks upgraded shares of TeleCommunication Systems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 6th. They now have a $3.70 price target on the stock.
TeleCommunication Systems, Inc (NASDAQ:TSYS) develops and applies secure mobile communication technology.
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