Pendrell Corporation (PCO) Upgraded to “C-” by TheStreet

TheStreet upgraded shares of Pendrell Corporation (NASDAQ:PCO) from a d rating to a c- rating in a research report report published 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 company has a market capitalization of $155.30 million, a PE ratio of 27.81 and a beta of 0.88. Pendrell Corporation has a one year low of $5.89 and a one year high of $7.61.

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In related news, major shareholder James D. Dondero acquired 1,408,534 shares of the stock in a transaction that occurred on Saturday, September 30th. The stock was purchased at an average price of $6.83 per share, with a total value of $9,620,287.22. Following the transaction, the insider now owns 704,267 shares of the company’s stock, valued at approximately $4,810,143.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James D. Dondero sold 34,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $6.69, for a total transaction of $227,460.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,347 shares of company stock valued at $407,338. 41.46% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PCO. Tyndall Capital Partners L P acquired a new position in Pendrell Corporation in the second quarter valued at $4,579,000. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 102,343 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Pendrell Corporation by 229.6% in the second quarter. Northern Trust Corp now owns 143,549 shares of the business services provider’s stock valued at $1,038,000 after acquiring an additional 100,002 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 5,600 shares in the last quarter. Finally, State Street Corp purchased a new stake in shares of Pendrell Corporation in the second quarter valued at about $764,000. Institutional investors and hedge funds 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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