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 set a $12.00 target price on shares of TransAct Technologies in a report on Wednesday, August 3rd.
Shares of TransAct Technologies (NASDAQ:TACT) opened at 6.15 on Friday. The stock has a 50 day moving average of $6.81 and a 200-day moving average of $7.34. TransAct Technologies has a 52 week low of $5.90 and a 52 week high of $9.44. The firm has a market capitalization of $45.41 million, a PE ratio of 17.57 and a beta of 0.90.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, November 21st will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.32 annualized dividend and a dividend yield of 5.00%. TransAct Technologies’s dividend payout ratio is currently 86.49%.
In other news, Chairman Bart C. Shuldman sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $7.33, for a total transaction of $43,980.00. Following the completion of the transaction, the chairman now directly owns 7,914 shares of the company’s stock, valued at approximately $58,009.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.57% of the company’s stock.
Institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its position in shares of 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 in the last quarter. Spark Investment Management LLC acquired a new position in shares of TransAct Technologies during the second quarter valued at $163,000. TIAA CREF Trust Co. FSB MO acquired a new position in shares of TransAct Technologies during the second quarter valued at $200,000. Algert Global LLC boosted its position in shares of TransAct Technologies by 25.6% in the third quarter. Algert Global LLC now owns 29,188 shares of the company’s stock valued at $218,000 after buying an additional 5,956 shares in the last quarter. Finally, B. Riley Financial Inc. boosted its position in shares of 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 in the last quarter. 36.44% of the stock is owned by institutional investors.
About TransAct Technologies
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.