PC Tel Inc (NASDAQ:PCTI) Shares Sold by Penbrook Management LLC

Penbrook Management LLC cut its position in shares of PC Tel Inc (NASDAQ:PCTI) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 68,435 shares of the Wireless communications provider’s stock after selling 1,400 shares during the quarter. Penbrook Management LLC owned 0.37% of PC Tel worth $575,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PCTI. Bailard Inc. acquired a new position in shares of PC Tel during the 2nd quarter valued at $149,000. Hillsdale Investment Management Inc. acquired a new position in shares of PC Tel during the 2nd quarter valued at $414,000. JPMorgan Chase & Co. increased its position in shares of PC Tel by 152.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,498 shares of the Wireless communications provider’s stock valued at $123,000 after purchasing an additional 16,600 shares during the period. Acadian Asset Management LLC increased its position in shares of PC Tel by 79.4% during the 2nd quarter. Acadian Asset Management LLC now owns 52,333 shares of the Wireless communications provider’s stock valued at $232,000 after purchasing an additional 23,154 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of PC Tel by 28.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 356,025 shares of the Wireless communications provider’s stock valued at $1,578,000 after purchasing an additional 78,026 shares during the period. Institutional investors own 58.82% of the company’s stock.

Shares of NASDAQ PCTI opened at $8.19 on Friday. The stock has a market capitalization of $151.43 million, a price-to-earnings ratio of -35.61 and a beta of -0.14. The stock’s fifty day simple moving average is $7.45 and its 200 day simple moving average is $5.60. PC Tel Inc has a 52-week low of $3.88 and a 52-week high of $8.83.

PC Tel (NASDAQ:PCTI) last issued its earnings results on Thursday, August 8th. The Wireless communications provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.06. The business had revenue of $23.50 million for the quarter, compared to analysts’ expectations of $22.40 million. PC Tel had a negative return on equity of 0.48% and a negative net margin of 12.16%. As a group, sell-side analysts expect that PC Tel Inc will post 0.16 EPS for the current year.

Several brokerages have recently issued reports on PCTI. TheStreet upgraded PC Tel from a “c” rating to a “b-” rating in a research report on Monday, September 9th. Zacks Investment Research upgraded PC Tel from a “hold” rating to a “strong-buy” rating and set a $6.25 target price on the stock in a report on Friday, August 16th. ValuEngine cut PC Tel from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. B. Riley upgraded PC Tel from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $5.00 to $6.50 in a report on Friday, August 9th. Finally, Lake Street Capital upgraded PC Tel from a “hold” rating to a “buy” rating and lifted their target price for the stock from $5.00 to $6.00 in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $6.25.

About PC Tel

PCTEL, Inc, together with its subsidiaries, delivers performance critical telecom solutions in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. The company designs and manufactures precision antennas, which are used primarily in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the Industrial Internet of Things.

Further Reading: How to calculate the intrinsic value of a stock

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Institutional Ownership by Quarter for PC Tel (NASDAQ:PCTI)

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