pdvWireless (PDVW) Upgraded to “Hold” by ValuEngine

pdvWireless (NASDAQ:PDVW) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of pdvWireless from a “buy” rating to a “hold” rating in a research note on Thursday, October 19th. B. Riley reiterated a “buy” rating and issued a $59.00 price target on shares of pdvWireless in a research note on Friday, December 15th. Finally, BidaskClub upgraded shares of pdvWireless from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 15th.

Shares of pdvWireless (NASDAQ PDVW) traded down $2.25 during trading on Friday, reaching $33.40. 20,141 shares of the company’s stock traded hands, compared to its average volume of 11,858. The stock has a market capitalization of $482.23, a price-to-earnings ratio of -12.85 and a beta of 0.60. pdvWireless has a one year low of $18.70 and a one year high of $36.40.

pdvWireless (NASDAQ:PDVW) last announced its quarterly earnings results on Tuesday, November 7th. The wireless provider reported ($0.57) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.06. pdvWireless had a negative net margin of 670.81% and a negative return on equity of 16.24%. equities analysts forecast that pdvWireless will post -2.41 EPS for the current year.

In other pdvWireless news, major shareholder Owl Creek Asset Management, L. bought 19,578 shares of the stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $29.61 per share, for a total transaction of $579,704.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard E. Rohmann sold 900 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $29.54, for a total transaction of $26,586.00. Following the transaction, the executive vice president now owns 13,109 shares in the company, valued at $387,239.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 332,384 shares of company stock worth $10,445,165 and have sold 2,700 shares worth $85,410. Company insiders own 10.91% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its position in shares of pdvWireless by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 33,852 shares of the wireless provider’s stock worth $789,000 after acquiring an additional 209 shares during the last quarter. Teachers Advisors LLC grew its position in pdvWireless by 2.2% in the 2nd quarter. Teachers Advisors LLC now owns 18,031 shares of the wireless provider’s stock valued at $420,000 after buying an additional 391 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in pdvWireless by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock valued at $190,000 after buying an additional 448 shares during the last quarter. Northern Trust Corp grew its position in pdvWireless by 2.4% in the 2nd quarter. Northern Trust Corp now owns 118,630 shares of the wireless provider’s stock valued at $2,765,000 after buying an additional 2,768 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in pdvWireless in the 3rd quarter valued at $212,000. Institutional investors and hedge funds own 91.92% of the company’s stock.

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About pdvWireless

pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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