PC-Tel, Inc. (PCTI) Director Sells $72,100.00 in Stock
PC-Tel, Inc. (NASDAQ:PCTI) Director Brian J. Jackman sold 10,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $7.21, for a total value of $72,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
PC-Tel, Inc. (PCTI) traded up $0.18 during mid-day trading on Friday, reaching $7.52. The company had a trading volume of 40,800 shares, compared to its average volume of 77,509. PC-Tel, Inc. has a 12-month low of $4.92 and a 12-month high of $8.48. The firm has a market cap of $131.71, a PE ratio of 67.54 and a beta of 0.62.
PC-Tel (NASDAQ:PCTI) last released its quarterly earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The firm had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $23.11 million. PC-Tel had a positive return on equity of 2.14% and a negative net margin of 4.86%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. equities analysts expect that PC-Tel, Inc. will post 0.12 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chartwell Investment Partners LLC boosted its position in PC-Tel by 12.0% in the 3rd quarter. Chartwell Investment Partners LLC now owns 1,719,342 shares of the Wireless communications provider’s stock valued at $10,831,000 after buying an additional 184,135 shares during the last quarter. Northern Trust Corp boosted its position in PC-Tel by 2.6% in the 2nd quarter. Northern Trust Corp now owns 411,946 shares of the Wireless communications provider’s stock valued at $2,916,000 after buying an additional 10,333 shares during the last quarter. Algert Global LLC boosted its position in PC-Tel by 17.6% in the 3rd quarter. Algert Global LLC now owns 327,350 shares of the Wireless communications provider’s stock valued at $2,062,000 after buying an additional 48,915 shares during the last quarter. Royce & Associates LP boosted its position in shares of PC-Tel by 22.4% in the 3rd quarter. Royce & Associates LP now owns 253,769 shares of the Wireless communications provider’s stock worth $1,599,000 after purchasing an additional 46,500 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of PC-Tel by 28.4% in the 1st quarter. Morgan Stanley now owns 166,885 shares of the Wireless communications provider’s stock worth $1,188,000 after purchasing an additional 36,919 shares during the last quarter. Hedge funds and other institutional investors own 73.43% of the company’s stock.
Separately, B. Riley reaffirmed a “buy” rating and set a $8.50 price target on shares of PC-Tel in a report on Thursday, November 9th.
PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.
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