Rand Wealth LLC held its stake in Pctel Inc. (NASDAQ:PCTI) during the third quarter, Holdings Channel reports. The fund owned 25,839 shares of the company’s stock at the end of the third quarter. Rand Wealth LLC owned approximately 0.15% of Pctel worth $137,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Chartwell Investment Partners LLC purchased a new position in shares of Pctel during the second quarter valued at approximately $7,718,000. Vanguard Group Inc. increased its position in shares of Pctel by 3.7% in the second quarter. Vanguard Group Inc. now owns 592,423 shares of the company’s stock valued at $2,791,000 after buying an additional 21,200 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Pctel by 16.9% in the second quarter. Baird Financial Group Inc. now owns 172,541 shares of the company’s stock valued at $813,000 after buying an additional 25,000 shares during the last quarter. North Star Investment Management Corp. purchased a new position in shares of Pctel during the third quarter valued at approximately $574,000. Finally, Moors & Cabot Inc. increased its position in shares of Pctel by 10.8% in the second quarter. Moors & Cabot Inc. now owns 66,500 shares of the company’s stock valued at $315,000 after buying an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 71.65% of the company’s stock.
Pctel Inc. (NASDAQ:PCTI) traded up 0.20% during midday trading on Friday, reaching $5.00. 1,889 shares of the company’s stock traded hands. Pctel Inc. has a 1-year low of $4.36 and a 1-year high of $6.00. The company’s market capitalization is $80.94 million. The firm’s 50-day moving average is $5.23 and its 200-day moving average is $4.98.
Pctel (NASDAQ:PCTI) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The company had revenue of $24.70 million for the quarter, compared to analysts’ expectations of $24.35 million. Pctel had a negative net margin of 13.70% and a positive return on equity of 0.31%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. Analysts forecast that Pctel Inc. will post $0.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 8th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Friday, November 4th. Pctel’s payout ratio is -24.39%.
PCTI has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Pctel from a “hold” rating to a “sell” rating in a report on Saturday, August 6th. B. Riley reiterated a “buy” rating and set a $7.50 price target on shares of Pctel in a report on Tuesday, August 2nd.
In other news, CEO Martin H. Singer sold 17,302 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $5.08, for a total value of $87,894.16. Following the transaction, the chief executive officer now directly owns 246,420 shares of the company’s stock, valued at $1,251,813.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 10.46% of the company’s stock.
Pctel Company Profile
PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.