pdvWireless, Inc. (NASDAQ:PDVW) Downgraded by BidaskClub

pdvWireless, Inc. (NASDAQ:PDVW) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, August 1st.

Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded pdvWireless from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Wednesday, April 5th. ValuEngine raised pdvWireless from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $42.00.

pdvWireless (PDVW) opened at 28.30 on Tuesday. The firm’s market cap is $408.00 million. The company has a 50-day moving average of $25.42 and a 200 day moving average of $23.37. pdvWireless has a 52 week low of $18.70 and a 52 week high of $30.35.

pdvWireless (NASDAQ:PDVW) last released its quarterly earnings results on Tuesday, June 6th. The wireless provider reported ($0.97) earnings per share for the quarter. pdvWireless had a negative net margin of 711.56% and a negative return on equity of 15.52%. The company had revenue of $1.26 million during the quarter. On average, equities analysts predict that pdvWireless will post ($2.19) earnings per share for the current year.

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In other news, EVP Richard E. Rohmann sold 2,807 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $24.65, for a total transaction of $69,192.55. Following the completion of the sale, the executive vice president now directly owns 14,909 shares of the company’s stock, valued at approximately $367,506.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank Creede sold 2,169 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $24.65, for a total value of $53,465.85. Following the sale, the insider now directly owns 43,221 shares of the company’s stock, valued at $1,065,397.65. The disclosure for this sale can be found here. 10.91% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of PDVW. State Street Corp increased its position in shares of pdvWireless by 2.0% in the fourth quarter. State Street Corp now owns 187,409 shares of the wireless provider’s stock worth $4,226,000 after buying an additional 3,737 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of pdvWireless by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 122,689 shares of the wireless provider’s stock worth $2,681,000 after buying an additional 9,976 shares during the last quarter. Swiss National Bank increased its position in shares of pdvWireless by 19.4% in the first quarter. Swiss National Bank now owns 14,150 shares of the wireless provider’s stock worth $309,000 after buying an additional 2,300 shares during the last quarter. American International Group Inc. increased its position in shares of pdvWireless by 7.1% in the first quarter. American International Group Inc. now owns 6,014 shares of the wireless provider’s stock worth $131,000 after buying an additional 398 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of pdvWireless by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 29,780 shares of the wireless provider’s stock worth $651,000 after buying an additional 124 shares during the last quarter. 93.53% of the stock is owned by institutional investors.

About pdvWireless

pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.

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