Communications Systems, Inc. (JCS) Upgraded to Hold by Zacks Investment Research
Communications Systems, Inc. (NASDAQ:JCS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Communications Systems manufactures and markets connectors and wiring devices for voice, data and video communications under the Suttle brand name in the United States and internationally. The company also manufactures a line of high performance fiber-optic connectors, interconnect devices and fiber cable assemblies for the telecommunications, computer and electronics markets. The company has several manufacturing plants in the United States and abroad. “
A number of other brokerages have also recently weighed in on JCS. ValuEngine upgraded Communications Systems from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Northland Securities set a $6.00 price objective on Communications Systems and gave the stock a “buy” rating in a research note on Wednesday, August 23rd.
Shares of Communications Systems (NASDAQ:JCS) traded up 0.67% during trading on Tuesday, hitting $4.51. The stock had a trading volume of 773 shares. The stock has a 50-day moving average price of $4.30 and a 200 day moving average price of $4.31. The company’s market cap is $40.39 million. Communications Systems has a 12 month low of $3.41 and a 12 month high of $5.40.
In related news, Director Curtis A. Sampson acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $3.97 per share, for a total transaction of $39,700.00. Following the purchase, the director now directly owns 634,636 shares of the company’s stock, valued at approximately $2,519,504.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.50% of the company’s stock.
A number of large investors have recently made changes to their positions in JCS. Goldman Sachs Group Inc. increased its position in Communications Systems by 22.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 27,648 shares of the communications equipment provider’s stock valued at $122,000 after buying an additional 5,012 shares in the last quarter. Ameriprise Financial Inc. increased its position in Communications Systems by 33.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 29,831 shares of the communications equipment provider’s stock valued at $129,000 after buying an additional 7,514 shares in the last quarter. Renaissance Technologies LLC increased its position in Communications Systems by 4.3% during the 1st quarter. Renaissance Technologies LLC now owns 353,000 shares of the communications equipment provider’s stock valued at $1,553,000 after buying an additional 14,600 shares in the last quarter. Gabelli Funds LLC increased its position in Communications Systems by 1.3% during the 1st quarter. Gabelli Funds LLC now owns 396,000 shares of the communications equipment provider’s stock valued at $1,742,000 after buying an additional 5,000 shares in the last quarter. Finally, Teton Advisors Inc. increased its position in Communications Systems by 24.0% during the 2nd quarter. Teton Advisors Inc. now owns 378,590 shares of the communications equipment provider’s stock valued at $2,639,000 after buying an additional 73,200 shares in the last quarter. 31.80% of the stock is currently owned by institutional investors.
About Communications Systems
Communications Systems, Inc (CSI) operates directly and through its subsidiaries located in the United States, Costa Rica and the United Kingdom. The Company operates through three segments: Suttle, Transition Networks and JDL Technologies (JDL). The Company provides physical connectivity infrastructure products and services for global deployments of broadband networks.
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