TransAct Technologies (TACT) Cut to “Hold” at Zacks Investment Research

TransAct Technologies (NASDAQ:TACT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, January 5th.

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. “

TACT has been the subject of a number of other reports. ValuEngine upgraded shares of TransAct Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. B. Riley reiterated a “buy” rating and set a $11.00 price target on shares of TransAct Technologies in a research report on Friday, October 27th.

TransAct Technologies (TACT) traded down $0.15 during trading on Friday, reaching $14.55. 26,850 shares of the company traded hands, compared to its average volume of 32,517. The company has a market cap of $108.28, a price-to-earnings ratio of 21.72 and a beta of 0.91. TransAct Technologies has a twelve month low of $6.75 and a twelve month high of $15.55.

TransAct Technologies (NASDAQ:TACT) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.12. TransAct Technologies had a net margin of 8.78% and a return on equity of 19.99%. The firm had revenue of $15.52 million during the quarter, compared to the consensus estimate of $14.58 million. analysts predict that TransAct Technologies will post 0.62 EPS for the current fiscal year.

In related news, Director Graham Y. Tanaka sold 2,095 shares of TransAct Technologies stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $13.39, for a total transaction of $28,052.05. Following the transaction, the director now owns 194,153 shares in the company, valued at approximately $2,599,708.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew John Hoffman sold 30,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $13.01, for a total transaction of $390,300.00. Following the completion of the transaction, the senior vice president now owns 14,791 shares in the company, valued at approximately $192,430.91. The disclosure for this sale can be found here. Insiders sold a total of 102,663 shares of company stock valued at $1,360,511 over the last ninety days. 11.57% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in TACT. Algert Global LLC increased its stake in TransAct Technologies by 30.3% in the 3rd quarter. Algert Global LLC now owns 53,883 shares of the technology company’s stock valued at $525,000 after buying an additional 12,529 shares during the period. B. Riley Financial Inc. increased its stake in shares of TransAct Technologies by 80.3% during the 3rd quarter. B. Riley Financial Inc. now owns 132,047 shares of the technology company’s stock worth $1,305,000 after purchasing an additional 58,793 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in TransAct Technologies by 2.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 243,683 shares of the technology company’s stock valued at $2,376,000 after buying an additional 5,607 shares during the last quarter. Macquarie Group Ltd. acquired a new position in TransAct Technologies in the 3rd quarter valued at $123,000. Finally, Northern Trust Corp grew its stake in TransAct Technologies by 7.0% in the 2nd quarter. Northern Trust Corp now owns 26,419 shares of the technology company’s stock valued at $223,000 after buying an additional 1,730 shares during the last quarter. 38.27% of the stock is owned by institutional investors and hedge funds.

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TransAct Technologies Company Profile

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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