TIAA CREF Investment Management LLC Takes $205,000 Position in Pendrell Corporation (PCO)

TIAA CREF Investment Management LLC bought a new position in shares of Pendrell Corporation (NASDAQ:PCO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 28,310 shares of the business services provider’s stock, valued at approximately $205,000. TIAA CREF Investment Management LLC owned about 0.12% of Pendrell Corporation as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its position in shares of Pendrell Corporation by 113.2% during the 2nd 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 during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Pendrell Corporation by 213.0% during the 2nd 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 during the last quarter. Finally, Teachers Advisors LLC acquired a new position in shares of Pendrell Corporation during the 2nd quarter valued at about $102,000. 32.22% of the stock is currently owned by institutional investors.

Pendrell Corporation (NASDAQ PCO) opened at $6.68 on Friday. The firm has a market cap of $163.48, a PE ratio of 23.03 and a beta of 0.91. Pendrell Corporation has a 1 year low of $5.89 and a 1 year high of $7.61.

In other news, major shareholder James D. Dondero purchased 1,408,534 shares of the stock in a transaction dated Saturday, September 30th. The shares were 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 in the company, valued at approximately $4,810,143.61. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James D. Dondero sold 17,919 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $6.65, for a total transaction of $119,161.35. The disclosure for this sale can be found here. Insiders own 41.46% of the company’s stock.

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Separately, TheStreet raised shares of Pendrell Corporation from a “d” rating to a “c-” rating in a research report on Monday, October 30th.

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.

Institutional Ownership by Quarter for Pendrell Corporation (NASDAQ:PCO)

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