Spark Investment Management LLC boosted its stake in TransAct Technologies Incorporated (NASDAQ:TACT) by 32.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,600 shares of the technology company’s stock after purchasing an additional 5,100 shares during the period. Spark Investment Management LLC owned about 0.28% of TransAct Technologies worth $272,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of TransAct Technologies during the fourth quarter valued at about $100,000. Macquarie Group Ltd. bought a new stake in TransAct Technologies in the third quarter worth about $123,000. Northern Trust Corp increased its stake in shares of TransAct Technologies by 7.0% in the second quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock worth $223,000 after purchasing an additional 1,730 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of TransAct Technologies by 732.9% in the fourth quarter. Acadian Asset Management LLC now owns 21,497 shares of the technology company’s stock worth $284,000 after purchasing an additional 18,916 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of TransAct Technologies by 219.7% in the fourth quarter. Bank of New York Mellon Corp now owns 37,555 shares of the technology company’s stock worth $497,000 after purchasing an additional 25,809 shares in the last quarter. Institutional investors own 39.18% of the company’s stock.
In related news, Director Thomas R. Schwarz sold 12,500 shares of TransAct Technologies stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $11.79, for a total value of $147,375.00. Following the completion of the sale, the director now directly owns 59,859 shares in the company, valued at $705,737.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Graham Y. Tanaka sold 2,095 shares of TransAct Technologies stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $13.39, for a total value of $28,052.05. Following the completion of the transaction, the director now owns 194,153 shares in the company, valued at approximately $2,599,708.67. The disclosure for this sale can be found here. Company insiders own 13.22% of the company’s stock.
TACT has been the subject of several recent analyst reports. ValuEngine raised shares of TransAct Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded shares of TransAct Technologies from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, January 31st. Finally, B. Riley reiterated a “buy” rating and set a $17.00 price target (up from $13.00) on shares of TransAct Technologies in a report on Friday, January 26th.
Shares of TransAct Technologies Incorporated (NASDAQ TACT) traded up $0.45 during mid-day trading on Wednesday, reaching $12.55. 52,865 shares of the company traded hands, compared to its average volume of 41,353. The stock has a market cap of $89.86, a P/E ratio of 20.00 and a beta of 0.98. TransAct Technologies Incorporated has a one year low of $7.90 and a one year high of $15.80.
TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings data on Monday, March 5th. The technology company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). The business had revenue of $13.19 million during the quarter, compared to the consensus estimate of $14.84 million. TransAct Technologies had a return on equity of 17.98% and a net margin of 5.70%. analysts forecast that TransAct Technologies Incorporated will post 0.79 EPS for the current fiscal year.
TransAct Technologies announced that its Board of Directors has authorized a share buyback program on Monday, March 5th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Friday, February 16th. TransAct Technologies’s dividend payout ratio (DPR) is currently 83.72%.
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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.
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