pdvWireless Inc (NASDAQ:PDVW) Major Shareholder Stephen Feinberg Sells 72,843 Shares

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pdvWireless Inc (NASDAQ:PDVW) major shareholder Stephen Feinberg sold 72,843 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $48.95, for a total value of $3,565,664.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Stephen Feinberg also recently made the following trade(s):

  • On Tuesday, June 11th, Stephen Feinberg sold 2,035 shares of pdvWireless stock. The shares were sold at an average price of $49.00, for a total value of $99,715.00.
  • On Tuesday, June 4th, Stephen Feinberg sold 139,413 shares of pdvWireless stock. The shares were sold at an average price of $48.27, for a total value of $6,729,465.51.
  • On Tuesday, May 28th, Stephen Feinberg sold 280,134 shares of pdvWireless stock. The stock was sold at an average price of $50.18, for a total value of $14,057,124.12.
  • On Thursday, May 30th, Stephen Feinberg sold 477,602 shares of pdvWireless stock. The stock was sold at an average price of $49.90, for a total value of $23,832,339.80.

Shares of NASDAQ PDVW traded down $1.00 during trading hours on Thursday, reaching $47.99. 113,435 shares of the stock were exchanged, compared to its average volume of 71,868. The firm has a market cap of $718.96 million, a P/E ratio of -16.66 and a beta of 0.29. pdvWireless Inc has a 52 week low of $24.23 and a 52 week high of $51.33.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Worth Venture Partners LLC bought a new position in pdvWireless during the 4th quarter worth $42,000. Legal & General Group Plc increased its stake in pdvWireless by 45.3% during the 4th quarter. Legal & General Group Plc now owns 1,885 shares of the wireless provider’s stock worth $70,000 after acquiring an additional 588 shares during the period. BNP Paribas Arbitrage SA increased its stake in pdvWireless by 426.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,980 shares of the wireless provider’s stock worth $70,000 after acquiring an additional 1,604 shares during the period. ClariVest Asset Management LLC bought a new position in pdvWireless during the 1st quarter worth $120,000. Finally, Nordea Investment Management AB bought a new position in pdvWireless during the 1st quarter worth $120,000. Institutional investors own 89.29% of the company’s stock.

A number of equities analysts have recently weighed in on PDVW shares. ValuEngine lowered pdvWireless from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 11th. BidaskClub lowered pdvWireless from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Zacks Investment Research upgraded pdvWireless from a “hold” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a research note on Thursday, February 14th. Finally, Craig Hallum increased their target price on pdvWireless from $62.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $68.00.

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pdvWireless Company Profile

pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers primarily in the United States. It offers TeamConnect service, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.

See Also: Momentum Investing

Insider Buying and Selling by Quarter for pdvWireless (NASDAQ:PDVW)

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