TransAct Technologies Inc. (NASDAQ:TACT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 restated a “buy” rating and issued a $10.00 price objective on shares of TransAct Technologies in a research note on Saturday, November 5th.
Shares of TransAct Technologies (NASDAQ:TACT) opened at 6.60 on Friday. TransAct Technologies has a one year low of $5.90 and a one year high of $9.44. The stock’s 50 day moving average price is $6.86 and its 200 day moving average price is $7.37. The stock has a market capitalization of $48.73 million, a PE ratio of 18.86 and a beta of 0.90.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 21st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Thursday, November 17th. TransAct Technologies’s dividend payout ratio (DPR) is 86.49%.
In related news, Chairman Bart C. Shuldman sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $7.33, for a total transaction of $43,980.00. Following the sale, the chairman now directly owns 7,914 shares of the company’s stock, valued at $58,009.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.57% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TACT. O Shaughnessy Asset Management LLC raised its stake in TransAct Technologies by 462.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 15,406 shares of the company’s stock valued at $124,000 after buying an additional 12,667 shares during the period. Spark Investment Management LLC bought a new stake in TransAct Technologies during the second quarter valued at approximately $163,000. TIAA CREF Trust Co. FSB MO bought a new stake in TransAct Technologies during the second quarter valued at approximately $200,000. B. Riley Financial Inc. raised its stake in TransAct Technologies by 14.4% in the second quarter. B. Riley Financial Inc. now owns 28,118 shares of the company’s stock valued at $226,000 after buying an additional 3,540 shares during the period. Finally, LSV Asset Management raised 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. 36.69% of the stock is currently owned by hedge funds and other institutional investors.
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.