Acadian Asset Management LLC purchased a new stake in shares of Tessco Technologies Inc. (NASDAQ:TESS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,618 shares of the company’s stock, valued at approximately $217,000.
Separately, Granite Investment Partners LLC purchased a new stake in Tessco Technologies during the first quarter valued at $1,208,000. 60.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Tessco Technologies Inc. (NASDAQ:TESS) traded down 0.16% during trading on Friday, hitting $12.30. The stock had a trading volume of 3,357 shares. Tessco Technologies Inc. has a 12-month low of $12.05 and a 12-month high of $24.39. The stock’s 50-day moving average is $12.68 and its 200-day moving average is $14.35. The stock has a market cap of $102.20 million, a price-to-earnings ratio of 27.27 and a beta of 1.39.
Tessco Technologies (NASDAQ:TESS) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.23. The company earned $128.90 million during the quarter, compared to analyst estimates of $116.49 million. Tessco Technologies had a net margin of 0.71% and a return on equity of 4.10%. On average, equities research analysts expect that Tessco Technologies Inc. will post $0.17 EPS for the current year.
Separately, Zacks Investment Research downgraded Tessco Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 28th.
About Tessco Technologies
TESSCO Technologies Incorporated is a technology company. The Company architects and delivers product and value chain solutions to support wireless systems. It provides marketing and sales services, knowledge and supply chain management, product solution delivery and control systems. The Company offers its products in four categories: base station infrastructure, network systems, installation, test and maintenance, and mobile devices and accessories.
Want to see what other hedge funds are holding TESS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tessco Technologies Inc. (NASDAQ:TESS).
Receive News & Ratings for Tessco Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tessco Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.