Shares of pdvWireless Inc (NASDAQ:PDVW) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus target price of $59.00 for the company and are expecting that the company will post ($0.57) EPS for the current quarter, according to Zacks. Zacks has also given pdvWireless an industry rank of 213 out of 265 based on the ratings given to related companies.
A number of equities analysts have issued reports on PDVW shares. Zacks Investment Research cut shares of pdvWireless from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. B. Riley restated a “buy” rating and set a $59.00 target price on shares of pdvWireless in a research report on Wednesday, November 8th. BidaskClub upgraded shares of pdvWireless from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 15th. ValuEngine upgraded shares of pdvWireless from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, TheStreet upgraded shares of pdvWireless from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th.
In other news, major shareholder Owl Creek Asset Management, L. purchased 99,409 shares of the stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $31.91 per share, for a total transaction of $3,172,141.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard E. Rohmann sold 900 shares of pdvWireless stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $30.02, for a total transaction of $27,018.00. Following the sale, the executive vice president now owns 11,011 shares of the company’s stock, valued at $330,550.22. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 250,890 shares of company stock valued at $8,005,418 and have sold 2,700 shares valued at $85,842. Insiders own 10.91% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC purchased a new stake in pdvWireless in the fourth quarter valued at approximately $108,000. The Manufacturers Life Insurance Company grew its holdings in pdvWireless by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock valued at $190,000 after purchasing an additional 448 shares during the period. Alliancebernstein L.P. purchased a new stake in pdvWireless in the fourth quarter valued at approximately $209,000. Dimensional Fund Advisors LP purchased a new stake in pdvWireless in the third quarter valued at approximately $212,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in pdvWireless in the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 91.65% of the company’s stock.
pdvWireless (NASDAQ:PDVW) opened at $32.60 on Friday. The stock has a market cap of $454.45, a PE ratio of -13.09 and a beta of 0.60. pdvWireless has a 52-week low of $20.00 and a 52-week high of $36.40.
pdvWireless (NASDAQ:PDVW) last announced its earnings results on Tuesday, February 6th. The wireless provider reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.02. The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.50 million. pdvWireless had a negative net margin of 613.47% and a negative return on equity of 17.38%. research analysts forecast that pdvWireless will post -2.36 earnings per share for the current fiscal year.
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pdvWireless Company Profile
pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.
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