TESSCO Technologies, Inc. (NASDAQ:TESS) Director Robert B. Barnhill, Jr. sold 10,378 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $21.24, for a total value of $220,428.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of TESSCO Technologies, Inc. (NASDAQ:TESS) traded up $0.65 on Wednesday, hitting $22.55. The stock had a trading volume of 13,921 shares, compared to its average volume of 37,630. The firm has a market cap of $181.18, a P/E ratio of 59.34 and a beta of 1.29. TESSCO Technologies, Inc. has a 12 month low of $12.15 and a 12 month high of $24.85.
TESSCO Technologies (NASDAQ:TESS) last issued its earnings results on Tuesday, January 23rd. The communications equipment provider reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.11. TESSCO Technologies had a return on equity of 3.43% and a net margin of 0.57%. The company had revenue of $146.26 million during the quarter, compared to the consensus estimate of $144.00 million.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 annualized dividend and a yield of 3.55%. TESSCO Technologies’s payout ratio is 210.53%.
A number of hedge funds and other institutional investors have recently made changes to their positions in TESS. Vanguard Group Inc. lifted its position in TESSCO Technologies by 62.6% in the 2nd quarter. Vanguard Group Inc. now owns 314,667 shares of the communications equipment provider’s stock valued at $4,185,000 after acquiring an additional 121,192 shares in the last quarter. Bank of New York Mellon Corp bought a new position in TESSCO Technologies in the 4th quarter valued at about $1,261,000. Deprince Race & Zollo Inc. lifted its position in TESSCO Technologies by 7.2% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 792,932 shares of the communications equipment provider’s stock valued at $9,872,000 after acquiring an additional 53,216 shares in the last quarter. Tieton Capital Management LLC lifted its position in TESSCO Technologies by 15.5% in the 3rd quarter. Tieton Capital Management LLC now owns 318,499 shares of the communications equipment provider’s stock valued at $3,965,000 after acquiring an additional 42,644 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new position in TESSCO Technologies in the 3rd quarter valued at about $395,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.
TESS has been the subject of several research reports. TheStreet upgraded TESSCO Technologies from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Zacks Investment Research downgraded TESSCO Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th.
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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