TransAct Technologies Inc. (NASDAQ:TACT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “
Separately, B. Riley reiterated a “buy” rating and set a $10.00 price target on shares of TransAct Technologies in a report on Saturday, November 5th.
Shares of TransAct Technologies (NASDAQ:TACT) opened at 6.60 on Friday. TransAct Technologies has a 52-week low of $5.90 and a 52-week high of $9.44. The firm has a market cap of $48.73 million, a price-to-earnings ratio of 18.86 and a beta of 0.90. The company’s 50-day moving average is $6.86 and its 200 day moving average is $7.37.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, November 21st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Thursday, November 17th. TransAct Technologies’s payout ratio is 86.49%.
In other news, Chairman Bart C. Shuldman sold 6,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $7.33, for a total value of $43,980.00. Following the completion of the transaction, the chairman now owns 7,914 shares in the company, valued at approximately $58,009.62. The sale was disclosed in a document filed with the SEC, which is available at this link. 11.57% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. TIAA CREF Trust Co. FSB MO bought a new position in shares of TransAct Technologies during the second quarter valued at about $200,000. Teton Advisors Inc. increased its stake in TransAct Technologies by 1.5% in the second quarter. Teton Advisors Inc. now owns 133,200 shares of the company’s stock valued at $1,068,000 after buying an additional 2,000 shares during the period. LSV Asset Management increased its stake in TransAct Technologies by 50.3% in the second quarter. LSV Asset Management now owns 28,700 shares of the company’s stock valued at $230,000 after buying an additional 9,600 shares during the period. Punch & Associates Investment Management Inc. acquired a new stake in TransAct Technologies during the second quarter valued at approximately $807,000. Finally, Cowen Prime Services LLC increased its stake in TransAct Technologies by 1.8% in the third quarter. Cowen Prime Services LLC now owns 228,986 shares of the company’s stock valued at $1,713,000 after buying an additional 4,083 shares during the period. Institutional investors and hedge funds own 36.69% of the company’s stock.
TransAct Technologies Company Profile
TransAct Technologies Incorporated (TransAct) designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. The Company operates through the segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts.