Press coverage about Pendrell (NASDAQ:PCO) has trended somewhat positive on Friday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Pendrell earned a daily sentiment score of 0.01 on Accern’s scale. Accern also assigned news stories about the business services provider an impact score of 47.4762171820772 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Separately, TheStreet upgraded Pendrell from a “d” rating to a “c-” rating in a report on Monday, October 30th.
Pendrell (NASDAQ PCO) traded down $88.30 during mid-day trading on Friday, hitting $634.50. The company had a trading volume of 11,600 shares, compared to its average volume of 883. The company has a market capitalization of $140.72, a P/E ratio of 1,153.64 and a beta of 0.92. Pendrell has a 12-month low of $589.00 and a 12-month high of $761.00.
In other Pendrell news, major shareholder James D. Dondero sold 17,919 shares of Pendrell stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $6.65, for a total value of $119,161.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder James D. Dondero bought 1,408,534 shares of the business’s stock in a transaction on Saturday, September 30th. The stock was bought at an average price of $6.83 per share, for a total transaction of $9,620,287.22. Following the purchase, the insider now directly owns 704,267 shares of the company’s stock, valued at $4,810,143.61. The disclosure for this purchase can be found here. 41.46% of the stock is owned by insiders.
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Pendrell 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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