Pendrell Corporation (PCO) Major Shareholder James D. Dondero Sells 17,919 Shares
Pendrell Corporation (NASDAQ:PCO) major shareholder James D. Dondero sold 17,919 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $6.65, for a total transaction of $119,161.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Pendrell Corporation (PCO) traded down 1.52% during midday trading on Monday, hitting $6.46. 132,024 shares of the stock were exchanged. The firm’s 50-day moving average is $6.74 and its 200-day moving average is $6.52. The stock has a market cap of $154.82 million, a price-to-earnings ratio of 27.73 and a beta of 0.88. Pendrell Corporation has a 12 month low of $5.89 and a 12 month high of $7.61.
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Institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC purchased a new position in Pendrell Corporation in the second quarter valued at $102,000. California State Teachers Retirement System purchased a new position in Pendrell Corporation in the second quarter valued at $153,000. TIAA CREF Investment Management LLC purchased a new position in Pendrell Corporation in the second quarter valued at $205,000. Bank of New York Mellon Corp increased its holdings in Pendrell Corporation by 213.0% in the second quarter. Bank of New York Mellon Corp now owns 41,452 shares of the business services provider’s stock valued at $300,000 after buying an additional 28,209 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Pendrell Corporation by 113.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,264 shares of the business services provider’s stock valued at $415,000 after buying an additional 30,404 shares in the last quarter. 32.13% of the stock is owned by hedge funds and other institutional investors.
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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