ValuEngine Upgrades pdvWireless, Inc. (NASDAQ:PDVW) to “Hold”

ValuEngine upgraded shares of pdvWireless, Inc. (NASDAQ:PDVW) from a sell rating to a hold rating in a report published on Monday, August 7th.

A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut pdvWireless from a buy rating to a hold rating in a research note on Wednesday, April 12th. BidaskClub cut pdvWireless from a hold rating to a sell rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. pdvWireless has an average rating of Hold and a consensus target price of $42.00.

Shares of pdvWireless (PDVW) traded up 0.71% during trading on Monday, reaching $28.30. The company’s stock had a trading volume of 23,593 shares. pdvWireless has a 52 week low of $18.70 and a 52 week high of $30.35. The stock’s 50 day moving average price is $25.42 and its 200 day moving average price is $23.37. The company’s market cap is $408.00 million.

pdvWireless (NASDAQ:PDVW) last announced its quarterly earnings data on Tuesday, June 6th. The wireless provider reported ($0.97) earnings per share (EPS) for the quarter. pdvWireless had a negative return on equity of 15.52% and a negative net margin of 711.56%. The company had revenue of $1.26 million for the quarter. Equities research analysts predict that pdvWireless will post ($2.19) EPS for the current year.

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In other pdvWireless news, EVP Richard E. Rohmann sold 2,807 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $24.65, for a total value of $69,192.55. Following the transaction, the executive vice president now directly owns 14,909 shares of the company’s stock, valued at approximately $367,506.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frank Creede sold 2,169 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $24.65, for a total value of $53,465.85. Following the completion of the transaction, the insider now directly owns 43,221 shares in the company, valued at $1,065,397.65. The disclosure for this sale can be found here. 10.91% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in pdvWireless by 19.4% in the first quarter. Swiss National Bank now owns 14,150 shares of the wireless provider’s stock valued at $309,000 after buying an additional 2,300 shares during the period. State Street Corp raised its stake in pdvWireless by 2.0% in the fourth quarter. State Street Corp now owns 187,409 shares of the wireless provider’s stock valued at $4,226,000 after buying an additional 3,737 shares during the period. Vanguard Group Inc. raised its stake in pdvWireless by 13.2% in the first quarter. Vanguard Group Inc. now owns 1,426,493 shares of the wireless provider’s stock valued at $31,169,000 after buying an additional 166,050 shares during the period. American International Group Inc. raised its stake in pdvWireless by 7.1% in the first quarter. American International Group Inc. now owns 6,014 shares of the wireless provider’s stock valued at $131,000 after buying an additional 398 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in pdvWireless by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 122,689 shares of the wireless provider’s stock valued at $2,681,000 after buying an additional 9,976 shares during the period. 93.53% of the stock is currently owned by institutional investors.

About pdvWireless

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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