Pendrell Corporation (NASDAQ:PCO) major shareholder James D. Dondero sold 34,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $6.69, for a total transaction of $227,460.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Pendrell Corporation (PCO) traded down 1.53% on Monday, reaching $6.43. 83,011 shares of the company’s stock were exchanged. The company has a market cap of $154.10 million, a price-to-earnings ratio of 27.60 and a beta of 0.87. The stock’s 50 day moving average is $6.91 and its 200 day moving average is $6.50. Pendrell Corporation has a 52 week low of $5.89 and a 52 week high of $7.61.

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An institutional investor recently raised its position in Pendrell Corporation stock. Bank of New York Mellon Corp boosted its position in shares of Pendrell Corporation (NASDAQ:PCO) by 213.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,452 shares of the business services provider’s stock after buying an additional 28,209 shares during the period. Bank of New York Mellon Corp owned 0.17% of Pendrell Corporation worth $300,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 30.57% of the company’s stock.

Pendrell Corporation Company Profile

Pendrell Corporation is engaged in the business of licensing and selling intellectual property (IP) rights to others. The Company invests in, acquires and monetizes IP rights. The Company’s subsidiaries hold patents that support over four IP licensing programs that it owns and manages, such as digital media, digital cinema, wireless technologies, and memory and storage technologies.

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