Zacks Investment Research upgraded shares of pdvWireless (NASDAQ:PDVW) from a sell rating to a hold rating in a research note issued to investors on Thursday.
According to Zacks, “pdvWireless, Inc. develops and sells wireless communications applications. It offers cloud-based pdvConnect mobile resource management solutions that enable businesses to locate and communicate with field workers, and enhance documentation of work events and job status. The company also sells and installs equipment used to run the wireless communications applications. pdvWireless, Inc., formerly known as Pacific DataVision, Inc., is headquartered in Woodland Park, New Jersey. “
PDVW has been the subject of a number of other research reports. BidaskClub cut shares of pdvWireless from a strong-buy rating to a buy rating in a research note on Wednesday, March 21st. ValuEngine upgraded shares of pdvWireless from a hold rating to a buy rating in a research note on Friday, April 6th. TheStreet upgraded shares of pdvWireless from a d+ rating to a c- rating in a research note on Wednesday, February 7th. Finally, B. Riley reiterated a buy rating and issued a $59.00 price objective on shares of pdvWireless in a research note on Friday, December 15th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $47.50.
pdvWireless (NASDAQ:PDVW) last posted its earnings results on Tuesday, February 6th. The wireless provider reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.02. The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.50 million. pdvWireless had a negative net margin of 613.47% and a negative return on equity of 17.38%. equities research analysts expect that pdvWireless will post -2.36 earnings per share for the current year.
In other pdvWireless news, EVP Richard E. Rohmann sold 900 shares of pdvWireless stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $37.16, for a total value of $33,444.00. Following the completion of the sale, the executive vice president now owns 9,803 shares in the company, valued at approximately $364,279.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.91% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of PDVW. The Manufacturers Life Insurance Company raised its stake in pdvWireless by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock worth $190,000 after purchasing an additional 448 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of pdvWireless by 5.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 35,766 shares of the wireless provider’s stock valued at $1,066,000 after buying an additional 1,914 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of pdvWireless in the 3rd quarter valued at approximately $212,000. BlackRock Inc. raised its position in shares of pdvWireless by 1.6% in the 4th quarter. BlackRock Inc. now owns 646,386 shares of the wireless provider’s stock valued at $20,749,000 after buying an additional 10,333 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new position in shares of pdvWireless in the 4th quarter valued at approximately $209,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
pdvWireless Company Profile
pdvWireless, Inc operates as a wireless communications carrier, and provider of network and mobile communication solutions to infrastructure and enterprise customers. The company is deploying push-to-talk networks and two-way radio service to businesses in industry verticals, such as construction, distribution, transportation, field services, waste management, and hospitality.
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