Punch & Associates Investment Management Inc. Sells 54,350 Shares of RF Industries, Ltd. $RFIL

Punch & Associates Investment Management Inc. trimmed its position in shares of RF Industries, Ltd. (NASDAQ:RFIL) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 822,800 shares of the electronics maker’s stock after selling 54,350 shares during the period. Punch & Associates Investment Management Inc. owned approximately 7.61% of RF Industries worth $8,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ritholtz Wealth Management increased its position in RF Industries by 68.0% in the fourth quarter. Ritholtz Wealth Management now owns 153,888 shares of the electronics maker’s stock worth $889,000 after purchasing an additional 62,279 shares during the last quarter. Walleye Capital LLC purchased a new stake in RF Industries during the first quarter valued at $731,000. State Street Corp lifted its position in RF Industries by 6.4% during the fourth quarter. State Street Corp now owns 38,484 shares of the electronics maker’s stock valued at $222,000 after purchasing an additional 2,300 shares during the last quarter. NewEdge Advisors LLC lifted its position in RF Industries by 984.2% during the third quarter. NewEdge Advisors LLC now owns 21,684 shares of the electronics maker’s stock valued at $178,000 after purchasing an additional 19,684 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in RF Industries during the third quarter valued at $169,000. 23.49% of the stock is currently owned by institutional investors.

RF Industries Stock Down 4.3%

Shares of RFIL opened at $12.46 on Friday. The company has a market cap of $135.20 million, a PE ratio of 89.01 and a beta of 1.27. The business has a fifty day moving average of $17.40 and a 200 day moving average of $13.53. RF Industries, Ltd. has a 52-week low of $5.54 and a 52-week high of $22.30.

RF Industries (NASDAQ:RFIL) last posted its quarterly earnings data on Monday, June 15th. The electronics maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. RF Industries had a net margin of 1.70% and a return on equity of 12.79%. The business had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $19.67 million. As a group, research analysts anticipate that RF Industries, Ltd. will post 0.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RFIL shares. Weiss Ratings upgraded shares of RF Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. B. Riley Financial increased their price target on shares of RF Industries from $11.25 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, June 16th. Wall Street Zen downgraded shares of RF Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research upgraded RF Industries from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

RF Industries Company Profile

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.