Insider Selling: WidePoint (NYSEAMERICAN:WYY) CFO Sells $288,230.71 in Stock

WidePoint Corporation (NYSEAMERICAN:WYY) CFO Robert George sold 15,863 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $18.17, for a total value of $288,230.71. Following the transaction, the chief financial officer owned 36,724 shares in the company, valued at approximately $667,275.08. The trade was a 30.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

WidePoint Stock Down 2.3%

Shares of WidePoint stock opened at $15.92 on Friday. The stock has a market capitalization of $157.45 million, a price-to-earnings ratio of -79.60 and a beta of 1.71. WidePoint Corporation has a 52-week low of $2.80 and a 52-week high of $24.30. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50 day moving average price is $11.02 and its 200-day moving average price is $7.44.

WidePoint (NYSEAMERICAN:WYY) last issued its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. The firm had revenue of $40.58 million during the quarter, compared to the consensus estimate of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. Equities research analysts forecast that WidePoint Corporation will post 0.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WYY shares. Zacks Research raised shares of WidePoint from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of WidePoint in a research note on Monday, March 30th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

Hedge Funds Weigh In On WidePoint

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of WidePoint by 19,130.8% during the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock valued at $25,000 after acquiring an additional 4,974 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in WidePoint in the 1st quarter worth about $50,000. XTX Topco Ltd bought a new position in WidePoint in the 2nd quarter worth about $58,000. NewEdge Advisors LLC purchased a new stake in WidePoint during the 2nd quarter valued at about $74,000. Finally, Ritholtz Wealth Management bought a new stake in WidePoint during the 4th quarter valued at about $79,000. Institutional investors own 22.60% of the company’s stock.

WidePoint Company Profile

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.