Emerald Acquisition Ltd. acquired a new position in Tessco Technologies Inc. (NASDAQ:TESS) during the second quarter, Holdings Channel reports. The firm acquired 75,359 shares of the company’s stock, valued at approximately $1,046,000. Emerald Acquisition Ltd. owned 0.94% of Tessco Technologies as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Deprince Race & Zollo Inc. raised its position in Tessco Technologies by 42.3% in the second quarter. Deprince Race & Zollo Inc. now owns 578,935 shares of the company’s stock worth $8,041,000 after buying an additional 172,168 shares during the period. Acadian Asset Management LLC bought a new position in Tessco Technologies during the second quarter worth approximately $217,000. Finally, Bank of New York Mellon Corp raised its position in Tessco Technologies by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 44,011 shares of the company’s stock worth $612,000 after buying an additional 3,944 shares during the period. Hedge funds and other institutional investors own 60.58% of the company’s stock.
Tessco Technologies Inc. (NASDAQ:TESS) traded down 0.65% during trading on Monday, reaching $12.30. The company’s stock had a trading volume of 1,185 shares. Tessco Technologies Inc. has a 12 month low of $12.05 and a 12 month high of $24.39. The company has a market cap of $102.20 million, a price-to-earnings ratio of 27.27 and a beta of 1.42. The stock’s 50 day moving average is $12.48 and its 200 day moving average is $13.99.
Tessco Technologies (NASDAQ:TESS) last announced its earnings results on Thursday, July 21st. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.23. Tessco Technologies had a return on equity of 4.10% and a net margin of 0.71%. The business earned $128.90 million during the quarter, compared to analysts’ expectations of $116.49 million. On average, equities analysts expect that Tessco Technologies Inc. will post $0.17 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Tessco Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd.
Tessco Technologies Company Profile
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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