Perkins Capital Management Inc. lowered its holdings in Pareteum Corp (NYSEAMERICAN:TEUM) by 10.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,175,548 shares of the technology company’s stock after selling 134,383 shares during the period. Pareteum comprises 1.3% of Perkins Capital Management Inc.’s portfolio, making the stock its 27th largest position. Perkins Capital Management Inc.’s holdings in Pareteum were worth $1,516,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of TEUM. BlackRock Inc. lifted its holdings in Pareteum by 357.3% during the 2nd quarter. BlackRock Inc. now owns 6,511,603 shares of the technology company’s stock worth $16,995,000 after buying an additional 5,087,616 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Pareteum during the 2nd quarter worth approximately $5,195,000. Vanguard Group Inc. lifted its holdings in Pareteum by 18.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,650,765 shares of the technology company’s stock worth $12,138,000 after buying an additional 733,301 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in Pareteum during the 2nd quarter worth approximately $615,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Pareteum by 1,418.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 239,451 shares of the technology company’s stock worth $625,000 after buying an additional 223,677 shares during the last quarter.
A number of research analysts have commented on TEUM shares. Zacks Investment Research downgraded Pareteum from a “buy” rating to a “hold” rating in a report on Saturday, October 19th. Maxim Group set a $9.00 target price on Pareteum and gave the stock a “buy” rating in a report on Wednesday, August 7th. Lake Street Capital downgraded Pareteum from a “buy” rating to a “hold” rating and reduced their target price for the stock from $7.00 to $0.75 in a report on Tuesday. Northland Securities reaffirmed a “market perform” rating on shares of Pareteum in a report on Monday. Finally, Oppenheimer downgraded Pareteum from an “outperform” rating to a “market perform” rating and set a $4.00 target price on the stock. in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $4.54.
Pareteum (NYSEAMERICAN:TEUM) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $34.15 million during the quarter, compared to the consensus estimate of $27.31 million.
Pareteum Corporation operates a communications cloud services platform in Europe and internationally. Its platform provides mobility, messaging, and security services and applications, with a single-sign-on, application program interface (API), and software development suite. The company's platform hosts integrated IT/back office and core network functionality for mobile network operators, as well as for enterprises to implement and leverage mobile communications solutions on a SaaS, PaaS, or IaaS basis.
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