Deprince Race & Zollo Inc. raised its stake in Tessco Technologies Inc. (NASDAQ:TESS) by 42.3% during the second quarter, Holdings Channel reports. The firm owned 578,935 shares of the company’s stock after buying an additional 172,168 shares during the period. Deprince Race & Zollo Inc. owned about 0.07% of Tessco Technologies worth $8,041,000 as of its most recent SEC filing.
Separately, Acadian Asset Management LLC acquired a new stake in shares of Tessco Technologies during the second quarter valued at $217,000. Institutional investors own 60.58% of the company’s stock.
Tessco Technologies Inc. (NASDAQ:TESS) traded up 0.97% on Wednesday, reaching $12.43. 6,031 shares of the company traded hands. The company has a 50-day moving average price of $12.50 and a 200-day moving average price of $14.03. Tessco Technologies Inc. has a 12 month low of $12.05 and a 12 month high of $24.39. The company has a market capitalization of $103.28 million, a P/E ratio of 27.56 and a beta of 1.42.
Tessco Technologies (NASDAQ:TESS) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.23. Tessco Technologies had a return on equity of 4.10% and a net margin of 0.71%. The firm had revenue of $128.90 million for the quarter, compared to analysts’ expectations of $116.49 million. Equities research analysts expect that Tessco Technologies Inc. will post $0.17 EPS for the current year.
Separately, Zacks Investment Research cut shares of Tessco Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 28th.
About Tessco Technologies
TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.
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