Zacks: Pacific DataVision Inc. (NASDAQ:PDVW) Given Average Rating of “Strong Buy” by Brokerages
Shares of Pacific DataVision Inc. (NASDAQ:PDVW) have received 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 recommendation.
Brokers have set a one year consensus target price of $61.00 for the company and are expecting that the company will post ($0.50) earnings per share for the current quarter, according to Zacks. Zacks has also given Pacific DataVision an industry rank of 91 out of 265 based on the ratings given to related companies.
Several research analysts recently commented on PDVW shares. Zacks Investment Research lowered Pacific DataVision from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd. TheStreet lowered Pacific DataVision from a “hold” rating to a “sell” rating in a research report on Friday, June 3rd. Canaccord Genuity restated a “buy” rating and set a $50.00 target price (down previously from $79.00) on shares of Pacific DataVision in a research report on Wednesday, June 15th. Finally, FBR & Co boosted their target price on Pacific DataVision from $43.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, May 31st.
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In related news, insider Harvey Leon Frazier purchased 3,000 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was purchased at an average price of $24.22 per share, with a total value of $72,660.00. Following the completion of the purchase, the insider now owns 9,760 shares of the company’s stock, valued at approximately $236,387.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Owl Creek Asset Management, L. purchased 77,311 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The shares were bought at an average cost of $19.97 per share, with a total value of $1,543,900.67. The disclosure for this purchase can be found here. Company insiders own 9.85% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Pacific DataVision by 2.1% in the first quarter. Geode Capital Management LLC now owns 85,892 shares of the company’s stock valued at $2,949,000 after buying an additional 1,731 shares in the last quarter. State Street Corp increased its stake in Pacific DataVision by 6.9% in the first quarter. State Street Corp now owns 203,981 shares of the company’s stock valued at $7,005,000 after buying an additional 13,149 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Pacific DataVision by 636.5% in the first quarter. UBS Asset Management Americas Inc. now owns 204,354 shares of the company’s stock valued at $7,018,000 after buying an additional 176,608 shares in the last quarter. 95.00% of the stock is owned by hedge funds and other institutional investors.
Pacific DataVision (NASDAQ:PDVW) traded up 1.52% during midday trading on Wednesday, hitting $22.08. The stock had a trading volume of 11,959 shares. The stock’s 50-day moving average is $22.08 and its 200-day moving average is $27.56. Pacific DataVision has a 1-year low of $18.60 and a 1-year high of $43.04. The company’s market capitalization is $315.90 million.
Pacific DataVision (NASDAQ:PDVW) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.41. The company earned $1.05 million during the quarter, compared to analysts’ expectations of $0.90 million. Pacific DataVision had a negative return on equity of 10.44% and a negative net margin of 734.30%. The company’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) EPS. Equities research analysts forecast that Pacific DataVision will post ($2.01) EPS for the current year.
Pacific DataVision Company Profile
pdvWireless, Inc, formerly Pacific DataVision, Inc focuses on wireless industry and delivering its two-way radio services that include cloud-based mobile work-force management solutions. The Company provides end users with a true push-to-talk (PTT) experience, which uses technology that helps business customers in field communication, documentation and productivity to the next level.
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