Chartwell Investment Partners LLC increased its holdings in shares of PC-Tel, Inc. (NASDAQ:PCTI) by 12.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,719,342 shares of the Wireless communications provider’s stock after purchasing an additional 184,135 shares during the quarter. Chartwell Investment Partners LLC owned 9.70% of PC-Tel worth $10,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Morgan Stanley lifted its holdings in PC-Tel by 28.4% in the first quarter. Morgan Stanley now owns 166,885 shares of the Wireless communications provider’s stock valued at $1,188,000 after acquiring an additional 36,919 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of PC-Tel by 104.4% in the first quarter. Goldman Sachs Group Inc. now owns 69,441 shares of the Wireless communications provider’s stock worth $494,000 after buying an additional 35,476 shares during the period. Eagle Global Advisors LLC bought a new position in shares of PC-Tel in the second quarter worth about $102,000. SG Capital Management LLC bought a new position in shares of PC-Tel in the second quarter worth about $772,000. Finally, Algert Global LLC raised its stake in shares of PC-Tel by 364.0% in the second quarter. Algert Global LLC now owns 278,435 shares of the Wireless communications provider’s stock worth $1,971,000 after buying an additional 218,425 shares during the period. 74.49% of the stock is currently owned by hedge funds and other institutional investors.
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PC-Tel, Inc. (PCTI) traded up $0.24 during trading hours on Tuesday, hitting $7.50. The company had a trading volume of 148,300 shares, compared to its average volume of 78,859. PC-Tel, Inc. has a 12-month low of $4.90 and a 12-month high of $8.48. The stock has a market capitalization of $131.18, a PE ratio of 66.00 and a beta of 0.62.
PC-Tel (NASDAQ:PCTI) last released its earnings results on Wednesday, November 8th. The Wireless communications provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $23.11 million. PC-Tel had a positive return on equity of 2.14% and a negative net margin of 4.86%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. equities analysts forecast that PC-Tel, Inc. will post 0.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 8th were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Tuesday, November 7th. PC-Tel’s dividend payout ratio is presently -75.86%.
Separately, B. Riley reaffirmed a “buy” rating and issued a $8.50 price objective on shares of PC-Tel in a research note on Thursday, November 9th.
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.
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