Rhumbline Advisers Reduces Stake in pdvWireless, Inc. (PDVW)

Rhumbline Advisers cut its stake in pdvWireless, Inc. (NASDAQ:PDVW) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,400 shares of the wireless provider’s stock after selling 980 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of pdvWireless worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PDVW. Vanguard Group Inc. increased its stake in shares of pdvWireless by 13.2% in the first quarter. Vanguard Group Inc. now owns 1,426,493 shares of the wireless provider’s stock worth $31,169,000 after acquiring an additional 166,050 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 worth $2,681,000 after acquiring an additional 9,976 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of pdvWireless by 5.5% in the first quarter. Geode Capital Management LLC now owns 90,078 shares of the wireless provider’s stock worth $1,968,000 after acquiring an additional 4,687 shares during the last quarter. Swiss National Bank increased its stake in shares of pdvWireless by 19.4% in the first quarter. Swiss National Bank now owns 14,150 shares of the wireless provider’s stock worth $309,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of pdvWireless by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 33,643 shares of the wireless provider’s stock worth $736,000 after acquiring an additional 1,881 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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PDVW has been the topic of a number of research reports. ValuEngine downgraded shares of pdvWireless from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. B. Riley reaffirmed a “buy” rating and issued a $59.00 price target on shares of pdvWireless in a research note on Thursday, October 5th. Finally, BidaskClub downgraded shares of pdvWireless from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th.

pdvWireless, Inc. (NASDAQ:PDVW) opened at 32.45 on Friday. The firm’s market capitalization is $467.83 million. pdvWireless, Inc. has a 1-year low of $18.70 and a 1-year high of $33.75. The stock has a 50 day moving average of $31.06 and a 200-day moving average of $31.06.

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.

Institutional Ownership by Quarter for pdvWireless (NASDAQ:PDVW)

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