Deprince Race & Zollo Inc. Lowers Stake in PC Tel Inc (NASDAQ:PCTI)

Deprince Race & Zollo Inc. lowered its stake in shares of PC Tel Inc (NASDAQ:PCTI) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,213,354 shares of the Wireless communications provider’s stock after selling 248,957 shares during the quarter. Deprince Race & Zollo Inc. owned 6.59% of PC Tel worth $5,375,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PCTI. JPMorgan Chase & Co. grew its holdings in shares of PC Tel by 152.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,498 shares of the Wireless communications provider’s stock valued at $123,000 after purchasing an additional 16,600 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of PC Tel during the 1st quarter valued at $145,000. Bailard Inc. bought a new position in shares of PC Tel during the 2nd quarter valued at $149,000. Acadian Asset Management LLC grew its holdings in shares of PC Tel by 79.4% during the 2nd quarter. Acadian Asset Management LLC now owns 52,333 shares of the Wireless communications provider’s stock valued at $232,000 after purchasing an additional 23,154 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. grew its holdings in shares of PC Tel by 24.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 67,935 shares of the Wireless communications provider’s stock valued at $301,000 after purchasing an additional 13,320 shares during the last quarter. 58.82% of the stock is currently owned by institutional investors.

Several research firms recently commented on PCTI. Lake Street Capital raised shares of PC Tel from a “hold” rating to a “buy” rating and increased their target price for the company from $5.00 to $6.00 in a report on Friday, August 9th. B. Riley raised shares of PC Tel from a “neutral” rating to a “buy” rating and increased their target price for the company from $5.00 to $6.50 in a report on Friday, August 9th. ValuEngine raised shares of PC Tel from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. TheStreet raised shares of PC Tel from a “c” rating to a “b-” rating in a report on Monday. Finally, Zacks Investment Research raised shares of PC Tel from a “hold” rating to a “strong-buy” rating and set a $6.25 target price on the stock in a report on Friday, August 16th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. PC Tel currently has an average rating of “Buy” and an average target price of $6.25.

Shares of PC Tel stock opened at $7.40 on Thursday. The firm has a market cap of $128.30 million, a PE ratio of -32.17 and a beta of -0.16. PC Tel Inc has a 12-month low of $3.88 and a 12-month high of $7.40. The company’s fifty day simple moving average is $5.85 and its two-hundred day simple moving average is $5.19.

PC Tel (NASDAQ:PCTI) last announced its quarterly earnings results on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $23.50 million for the quarter, compared to analyst estimates of $22.40 million. PC Tel had a negative net margin of 12.16% and a negative return on equity of 0.48%. As a group, sell-side analysts expect that PC Tel Inc will post 0.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Wednesday, August 7th. PC Tel’s dividend payout ratio (DPR) is presently -95.65%.

PC Tel Company Profile

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

Read More: What is Liquidity?

Institutional Ownership by Quarter for PC Tel (NASDAQ:PCTI)

Receive News & Ratings for PC Tel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Tel and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply