Steven D. Heinemann Sells 7,300 Shares of Network-1 Technologies Inc (NTIP) Stock
Network-1 Technologies Inc (NYSE:NTIP) major shareholder Steven D. Heinemann sold 7,300 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $4.41, for a total transaction of $32,193.00. Following the sale, the insider now owns 585,233 shares in the company, valued at approximately $2,580,877.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Network-1 Technologies Inc (NYSE NTIP) traded down 2.35% during mid-day trading on Wednesday, reaching $4.15. 38,081 shares of the company traded hands. Network-1 Technologies Inc has a 52 week low of $2.50 and a 52 week high of $5.05. The firm has a market capitalization of $100.26 million and a price-to-earnings ratio of 7.23. The stock’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 announced its quarterly earnings data on Monday, August 14th. The company reported $0.06 EPS for the quarter. The company had revenue of $4.86 million during the quarter. Network-1 Technologies had a net margin of 31.76% and a return on equity of 11.15%.
The company also recently disclosed a semiannual dividend, which was paid on Wednesday, September 20th. Shareholders of record on Friday, September 1st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a yield of 2.41%.
Network-1 Technologies declared that its Board of Directors has approved a share buyback program on Friday, June 16th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in NTIP. DRW Securities LLC purchased a new position in Network-1 Technologies during the 2nd quarter worth $170,000. Russell Investments Group Ltd. raised its position in Network-1 Technologies by 9.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,804 shares of the company’s stock worth $212,000 after buying an additional 4,236 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Network-1 Technologies by 452.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 55,590 shares of the company’s stock worth $236,000 after buying an additional 45,520 shares during the last quarter. Seizert Capital Partners LLC raised its position in Network-1 Technologies by 60.4% during the 2nd quarter. Seizert Capital Partners LLC now owns 106,213 shares of the company’s stock worth $451,000 after buying an additional 39,975 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Network-1 Technologies by 98.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 107,529 shares of the company’s stock worth $457,000 after buying an additional 53,229 shares during the last quarter.
Network-1 Technologies Company Profile
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