TeleCommunication Systems VP Sells $111,650 in Stock (TSYS)
TeleCommunication Systems (NASDAQ:TSYS) VP Drew A. Morin sold 38,500 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $2.90, for a total value of $111,650.00. Following the completion of the sale, the vice president now directly owns 434,203 shares in the company, valued at approximately $1,259,189. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of TeleCommunication Systems (NASDAQ:TSYS) traded down 0.68% during mid-day trading on Wednesday, hitting $2.90. 162,597 shares of the company’s stock traded hands. TeleCommunication Systems has a 1-year low of $2.08 and a 1-year high of $3.59. The stock’s 50-day moving average is $3.10 and its 200-day moving average is $2.85. The company’s market cap is $172.7 million.
TeleCommunication Systems (NASDAQ:TSYS) last announced its earnings results on Thursday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.01) earnings per share. TeleCommunication Systems’s revenue was down 7.1% compared to the same quarter last year. On average, analysts predict that TeleCommunication Systems will post $0.21 earnings per share for the current fiscal year.
TSYS has been the subject of a number of recent research reports. 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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