Zacks Investment Research downgraded shares of TransAct Technologies (NASDAQ:TACT) from a buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “
Several other equities research analysts also recently issued reports on the company. ValuEngine raised TransAct Technologies from a hold rating to a buy rating in a report on Sunday, December 31st. B. Riley reaffirmed a buy rating and set a $17.00 price target (up previously from $13.00) on shares of TransAct Technologies in a report on Friday, January 26th.
TransAct Technologies (NASDAQ:TACT) last released its earnings results on Monday, March 5th. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). TransAct Technologies had a net margin of 5.70% and a return on equity of 17.98%. The firm had revenue of $13.19 million during the quarter, compared to the consensus estimate of $14.84 million. equities analysts anticipate that TransAct Technologies will post 0.79 EPS for the current fiscal year.
TransAct Technologies announced that its Board of Directors has initiated a stock repurchase plan on Monday, March 5th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, February 16th. TransAct Technologies’s dividend payout ratio is 83.72%.
In other TransAct Technologies news, Director Graham Y. Tanaka sold 2,095 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $13.39, for a total transaction of $28,052.05. Following the completion of the sale, the director now owns 194,153 shares of the company’s stock, valued at approximately $2,599,708.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Graham Y. Tanaka sold 10,616 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $13.42, for a total value of $142,466.72. Following the sale, the director now directly owns 194,153 shares of the company’s stock, valued at approximately $2,605,533.26. The disclosure for this sale can be found here. Company insiders own 11.57% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in TransAct Technologies during the 4th quarter valued at $100,000. Macquarie Group Ltd. acquired a new stake in TransAct Technologies during the 3rd quarter valued at $123,000. Northern Trust Corp lifted its holdings in shares of TransAct Technologies by 7.0% during the second quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock worth $223,000 after buying an additional 1,730 shares in the last quarter. Spark Investment Management LLC lifted its holdings in shares of TransAct Technologies by 32.9% during the fourth quarter. Spark Investment Management LLC now owns 20,600 shares of the technology company’s stock worth $272,000 after buying an additional 5,100 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of TransAct Technologies by 732.9% during the fourth quarter. Acadian Asset Management LLC now owns 21,497 shares of the technology company’s stock worth $284,000 after buying an additional 18,916 shares in the last quarter. 39.18% of the stock is owned by institutional investors and hedge funds.
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About TransAct Technologies
TransAct Technologies Incorporated (TransAct) designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries. The Company operates through the segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts.
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