Pendrell Corporation (NASDAQ:PCO) Major Shareholder Sells $227,460.00 in Stock

Pendrell Corporation (NASDAQ:PCO) major shareholder James D. Dondero sold 34,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $6.69, for a total transaction of $227,460.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Pendrell Corporation (NASDAQ:PCO) traded up 0.80% during mid-day trading on Friday, reaching $6.31. 20,106 shares of the company traded hands. The stock has a market capitalization of $151.23 million, a price-to-earnings ratio of 27.08 and a beta of 0.87. The company’s 50 day moving average is $6.84 and its 200 day moving average is $6.49. Pendrell Corporation has a 52-week low of $5.89 and a 52-week high of $7.61.

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Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in shares of Pendrell Corporation during the second quarter valued at approximately $153,000. State Street Corp acquired a new stake in Pendrell Corporation during the second quarter valued at about $764,000. Tyndall Capital Partners L P purchased a new position in shares of Pendrell Corporation during the second quarter valued at approximately $4,579,000. Dimensional Fund Advisors LP raised its position in shares of Pendrell Corporation by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 124,318 shares of the business services provider’s stock valued at $899,000 after buying an additional 5,600 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Pendrell Corporation by 23.8% in the second quarter. Vanguard Group Inc. now owns 532,452 shares of the business services provider’s stock valued at $3,849,000 after buying an additional 102,343 shares during the last quarter. Institutional investors own 30.79% of the company’s stock.

About Pendrell Corporation

Pendrell Corporation is engaged in the business of licensing and selling intellectual property (IP) rights to others. The Company invests in, acquires and monetizes IP rights. The Company’s subsidiaries hold patents that support over four IP licensing programs that it owns and manages, such as digital media, digital cinema, wireless technologies, and memory and storage technologies.

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