TransAct Technologies Incorporated (NASDAQ:TACT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “
A number of other research analysts have also recently weighed in on TACT. B. Riley reiterated a “buy” rating and issued a $11.00 target price on shares of TransAct Technologies in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of TransAct Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 4th.
TransAct Technologies (NASDAQ:TACT) last released its earnings results on Thursday, August 3rd. The technology company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.06. The firm had revenue of $13.60 million for the quarter, compared to analysts’ expectations of $14.35 million. TransAct Technologies had a net margin of 7.27% and a return on equity of 16.68%.
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In related news, Chairman Bart C. Shuldman sold 4,101 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $9.54, for a total transaction of $39,123.54. Following the sale, the chairman now directly owns 13,115 shares in the company, valued at approximately $125,117.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven A. Demartino sold 2,583 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $9.75, for a total transaction of $25,184.25. Following the sale, the chief financial officer now owns 47,419 shares in the company, valued at $462,335.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,360 shares of company stock worth $352,752. Corporate insiders own 11.57% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. M&T Bank Corp purchased a new stake in shares of TransAct Technologies during the 1st quarter valued at approximately $162,000. Northern Trust Corp lifted its stake in shares of TransAct Technologies by 7.0% during the 2nd quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock valued at $223,000 after buying an additional 1,730 shares in the last quarter. Algert Global LLC lifted its stake in shares of TransAct Technologies by 10.0% during the 2nd quarter. Algert Global LLC now owns 41,354 shares of the technology company’s stock valued at $349,000 after buying an additional 3,765 shares in the last quarter. LSV Asset Management lifted its stake in shares of TransAct Technologies by 55.5% during the 2nd quarter. LSV Asset Management now owns 50,600 shares of the technology company’s stock valued at $430,000 after buying an additional 18,070 shares in the last quarter. Finally, B. Riley Financial Inc. lifted its stake in shares of TransAct Technologies by 23.2% during the 2nd quarter. B. Riley Financial Inc. now owns 73,254 shares of the technology company’s stock valued at $622,000 after buying an additional 13,817 shares in the last quarter. Institutional investors own 37.23% of the company’s stock.
TransAct Technologies Company Profile
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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