Insider Selling: Network-1 Technologies Inc (NTIP) Major Shareholder Sells 20,791 Shares of Stock
Network-1 Technologies Inc (NYSE:NTIP) major shareholder Steven D. Heinemann sold 20,791 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $4.31, for a total transaction of $89,609.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Network-1 Technologies Inc (NTIP) traded down 2.35% on Wednesday, hitting $4.15. 38,081 shares of the company’s stock were exchanged. Network-1 Technologies Inc has a 12-month low of $2.50 and a 12-month high of $5.05. The stock has a market cap of $100.26 million and a price-to-earnings ratio of 7.23. The company’s 50-day moving average price is $3.86 and its 200 day moving average price is $4.22.
Network-1 Technologies (NYSE:NTIP) last released its earnings results on Monday, August 14th. The company reported $0.06 EPS for the quarter. Network-1 Technologies had a net margin of 31.76% and a return on equity of 11.15%. The company had revenue of $4.86 million during the quarter.
Network-1 Technologies announced that its board has approved a stock buyback program on Friday, June 16th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a semiannual dividend, which was paid on Wednesday, September 20th. Stockholders of record on Friday, September 1st were paid a $0.05 dividend. This represents a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, August 30th.
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Several hedge funds have recently added to or reduced their stakes in NTIP. Russell Investments Group Ltd. lifted its stake in shares of Network-1 Technologies by 9.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 49,804 shares of the company’s stock worth $212,000 after acquiring an additional 4,236 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Network-1 Technologies by 81.7% in the 2nd quarter. Acadian Asset Management LLC now owns 356,987 shares of the company’s stock worth $1,517,000 after acquiring an additional 160,489 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Network-1 Technologies by 98.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 107,529 shares of the company’s stock worth $457,000 after acquiring an additional 53,229 shares during the period. Seizert Capital Partners LLC lifted its stake in shares of Network-1 Technologies by 60.4% in the 2nd quarter. Seizert Capital Partners LLC now owns 106,213 shares of the company’s stock worth $451,000 after acquiring an additional 39,975 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Network-1 Technologies by 43.9% in the 2nd quarter. Vanguard Group Inc. now owns 383,534 shares of the company’s stock worth $1,630,000 after acquiring an additional 116,981 shares during the period.
Network-1 Technologies Company Profile
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