Harbert Fund Advisors Inc. Has $474,000 Stock Holdings in TransAct Technologies Incorporated $TACT

Harbert Fund Advisors Inc. lessened its position in shares of TransAct Technologies Incorporated (NASDAQ:TACT) by 71.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,512 shares of the technology company’s stock after selling 297,607 shares during the quarter. TransAct Technologies comprises 13.6% of Harbert Fund Advisors Inc.’s holdings, making the stock its 2nd biggest position. Harbert Fund Advisors Inc. owned 1.17% of TransAct Technologies worth $474,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of TransAct Technologies by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock worth $462,000 after acquiring an additional 4,742 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in TransAct Technologies during the 3rd quarter valued at about $58,000. Renaissance Technologies LLC increased its position in TransAct Technologies by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock valued at $1,670,000 after buying an additional 18,122 shares in the last quarter. NewEdge Advisors LLC acquired a new position in TransAct Technologies during the 3rd quarter valued at about $290,000. Finally, Susquehanna International Group LLP acquired a new position in TransAct Technologies during the 3rd quarter valued at about $225,000. Institutional investors own 74.46% of the company’s stock.

Analysts Set New Price Targets

TACT has been the topic of several recent analyst reports. Zacks Research raised TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a research report on Tuesday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Insider Buying and Selling at TransAct Technologies

In other TransAct Technologies news, CEO John Dillon acquired 70,902 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were purchased at an average price of $3.49 per share, for a total transaction of $247,447.98. Following the completion of the purchase, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $349,000. The trade was a 243.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.24% of the stock is owned by insiders.

TransAct Technologies Price Performance

NASDAQ:TACT opened at $5.01 on Friday. The firm has a market capitalization of $51.50 million, a P/E ratio of -100.20 and a beta of 1.27. TransAct Technologies Incorporated has a 1-year low of $3.06 and a 1-year high of $5.70. The company’s fifty day moving average price is $3.79 and its 200-day moving average price is $3.80.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. The firm had revenue of $14.42 million for the quarter, compared to analyst estimates of $12.60 million. TransAct Technologies had a negative net margin of 0.93% and a negative return on equity of 1.56%. Equities analysts anticipate that TransAct Technologies Incorporated will post -0.05 EPS for the current fiscal year.

TransAct Technologies announced that its board has authorized a share buyback program on Wednesday, May 13th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

TransAct Technologies Company Profile

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.