Virtu KCG Holdings LLC acquired a new stake in UTStarcom Holdings Corp (NASDAQ:UTSI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 60,365 shares of the Wireless communications provider’s stock, valued at approximately $141,000. Virtu KCG Holdings LLC owned about 0.17% of UTStarcom Holdings Corp as of its most recent SEC filing.
Separately, Spark Investment Management LLC raised its holdings in shares of UTStarcom Holdings Corp by 116.4% in the second quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock valued at $113,000 after purchasing an additional 26,200 shares during the last quarter. Institutional investors and hedge funds own 25.93% of the company’s stock.
UTStarcom Holdings Corp (NASDAQ UTSI) opened at 3.20 on Wednesday. UTStarcom Holdings Corp has a one year low of $1.60 and a one year high of $3.20. The company’s 50-day moving average is $2.69 and its 200-day moving average is $2.29. The firm has a market capitalization of $113.35 million, a P/E ratio of 20.25 and a beta of -0.30.
A number of research firms have recently issued reports on UTSI. Zacks Investment Research upgraded shares of UTStarcom Holdings Corp from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a report on Wednesday, October 18th. ValuEngine upgraded shares of UTStarcom Holdings Corp from a “sell” rating to a “hold” rating in a report on Friday, September 15th.
UTStarcom Holdings Corp Company Profile
UTStarcom Holdings Corp. provides broadband products, solution and services. The Company delivers broadband transport and access (both wireless fidelity (Wi-Fi) and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment, which is focused on its equipment sales, including network infrastructure and application products, and Services, which is engaged in providing services and support of its equipment products and also the new operational support segment.
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