Perritt Capital Management Inc. cut its holdings in shares of PC Tel Inc (NASDAQ:PCTI) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 437,968 shares of the Wireless communications provider’s stock after selling 50,957 shares during the period. Perritt Capital Management Inc. owned about 2.38% of PC Tel worth $1,940,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in shares of PC Tel by 4.3% in the second quarter. Renaissance Technologies LLC now owns 1,487,633 shares of the Wireless communications provider’s stock worth $6,590,000 after acquiring an additional 61,363 shares in the last quarter. Rutabaga Capital Management LLC MA raised its position in shares of PC Tel by 69.3% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 941,895 shares of the Wireless communications provider’s stock valued at $4,719,000 after purchasing an additional 385,535 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of PC Tel by 28.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 356,025 shares of the Wireless communications provider’s stock valued at $1,578,000 after purchasing an additional 78,026 shares in the last quarter. Boston Partners raised its position in shares of PC Tel by 44.1% in the 1st quarter. Boston Partners now owns 193,541 shares of the Wireless communications provider’s stock valued at $970,000 after purchasing an additional 59,241 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of PC Tel during the 2nd quarter valued at approximately $414,000. 58.82% of the stock is currently owned by institutional investors and hedge funds.
PCTI has been the subject of a number of research analyst reports. TheStreet upgraded shares of PC Tel from a “c” rating to a “b-” rating in a research note on Monday. ValuEngine raised shares of PC Tel from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Lake Street Capital upgraded shares of PC Tel from a “hold” rating to a “buy” rating and upped their target price for the company from $5.00 to $6.00 in a research note on Friday, August 9th. Zacks Investment Research raised shares of PC Tel from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a research report on Friday, August 16th. Finally, B. Riley upgraded PC Tel from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.00 to $6.50 in a research note on Friday, August 9th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $6.25.
Shares of PCTI traded up $0.20 during mid-day trading on Wednesday, hitting $7.32. The stock had a trading volume of 7,862 shares, compared to its average volume of 252,326. The company has a market cap of $128.30 million, a PE ratio of -31.83 and a beta of -0.16. The company’s fifty day simple moving average is $5.80 and its two-hundred day simple moving average is $5.18. PC Tel Inc has a fifty-two week low of $3.88 and a fifty-two week high of $7.40.
PC Tel (NASDAQ:PCTI) last released its earnings results on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.06. PC Tel had a negative net margin of 12.16% and a negative return on equity of 0.48%. The firm had revenue of $23.50 million during the quarter, compared to analyst estimates of $22.40 million. On average, equities analysts anticipate that PC Tel Inc will post 0.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 8th were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 3.01%. 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.
Recommended Story: What is intrinsic value?
Want to see what other hedge funds are holding PCTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PC Tel Inc (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.