Pendrell Corporation (PCO) Stock Rating Upgraded by TheStreet

Pendrell Corporation (NASDAQ:PCO) was upgraded by equities research analysts at TheStreet from a “d” rating to a “c-” rating in a report released on Monday.

Pendrell Corporation (NASDAQ PCO) opened at 6.48 on Monday. The company has a 50-day moving average price of $6.67 and a 200-day moving average price of $6.53. The stock has a market cap of $155.30 million, a price-to-earnings ratio of 27.81 and a beta of 0.88. Pendrell Corporation has a 52 week low of $5.89 and a 52 week high of $7.61.

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In other Pendrell Corporation news, major shareholder James D. Dondero sold 34,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $6.69, for a total value of $227,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James D. Dondero sold 9,428 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $6.44, for a total transaction of $60,716.32. The disclosure for this sale can be found here. Insiders sold 61,347 shares of company stock valued at $407,338 in the last 90 days. 41.46% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC acquired a new position in Pendrell Corporation in the second quarter valued at $102,000. California State Teachers Retirement System acquired a new position in Pendrell Corporation in the second quarter valued at $153,000. TIAA CREF Investment Management LLC acquired a new position in Pendrell Corporation in the second quarter valued at $205,000. Bank of New York Mellon Corp boosted its stake in Pendrell Corporation by 213.0% in the second quarter. Bank of New York Mellon Corp now owns 41,452 shares of the business services provider’s stock valued at $300,000 after acquiring an additional 28,209 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Pendrell Corporation by 113.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,264 shares of the business services provider’s stock valued at $415,000 after acquiring an additional 30,404 shares in the last quarter. Institutional investors own 32.13% of the company’s stock.

Pendrell Corporation Company Profile

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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