BlackRock Inc. increased its stake in shares of DASAN Zhone Solutions Inc (NASDAQ:DZSI) by 130.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,502 shares of the communications equipment provider’s stock after purchasing an additional 263,301 shares during the quarter. BlackRock Inc. owned 2.83% of DASAN Zhone Solutions worth $4,534,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. acquired a new position in DASAN Zhone Solutions during the 2nd quarter worth $108,000. Bank of New York Mellon Corp acquired a new position in DASAN Zhone Solutions during the 2nd quarter worth $185,000. Millennium Management LLC acquired a new position in DASAN Zhone Solutions during the 1st quarter worth $419,000. Finally, Dimensional Fund Advisors LP grew its stake in DASAN Zhone Solutions by 40.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 57,408 shares of the communications equipment provider’s stock worth $648,000 after purchasing an additional 16,632 shares in the last quarter. 15.64% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael Connors sold 3,333 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $10.24, for a total transaction of $34,129.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 65.30% of the company’s stock.
DZSI opened at $14.39 on Friday. DASAN Zhone Solutions Inc has a 12 month low of $7.67 and a 12 month high of $15.59. The firm has a market cap of $215.63 million, a P/E ratio of 29.70 and a beta of 1.32. The company has a quick ratio of 1.21, a current ratio of 1.55 and a debt-to-equity ratio of 0.09.
DASAN Zhone Solutions (NASDAQ:DZSI) last released its earnings results on Thursday, August 9th. The communications equipment provider reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.03. DASAN Zhone Solutions had a return on equity of 9.88% and a net margin of 2.64%. The firm had revenue of $76.26 million during the quarter.
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DASAN Zhone Solutions Company Profile
DASAN Zhone Solutions, Inc provides network access solutions and communications equipment for service provider and enterprise networks worldwide. It offers broadband access products, including customer premise equipment, such as digital subscriber line (DSL) modems; Ethernet access demarcation devices; and gigabit passive optical network (GPON) and 10G point-to-point active Ethernet optical network terminals.
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