Acadian Asset Management LLC raised its stake in shares of TESSCO Technologies, Inc. (NASDAQ:TESS) by 25.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,149 shares of the communications equipment provider’s stock after buying an additional 3,243 shares during the quarter. Acadian Asset Management LLC owned about 0.19% of TESSCO Technologies worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of TESSCO Technologies by 8.2% in the second quarter. Goldman Sachs Group Inc. now owns 22,935 shares of the communications equipment provider’s stock valued at $305,000 after purchasing an additional 1,744 shares in the last quarter. Macquarie Group Ltd. purchased a new position in TESSCO Technologies during the third quarter worth $395,000. Stifel Financial Corp boosted its stake in TESSCO Technologies by 26.5% during the second quarter. Stifel Financial Corp now owns 32,500 shares of the communications equipment provider’s stock worth $434,000 after buying an additional 6,818 shares during the period. Northern Trust Corp boosted its stake in TESSCO Technologies by 1.8% during the second quarter. Northern Trust Corp now owns 71,148 shares of the communications equipment provider’s stock worth $945,000 after buying an additional 1,228 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in TESSCO Technologies by 9.0% during the third quarter. Moors & Cabot Inc. now owns 80,678 shares of the communications equipment provider’s stock worth $1,001,000 after buying an additional 6,646 shares during the period. 58.27% of the stock is owned by institutional investors and hedge funds.
Shares of TESSCO Technologies, Inc. (NASDAQ TESS) opened at $21.45 on Tuesday. TESSCO Technologies, Inc. has a 52-week low of $12.15 and a 52-week high of $23.65. The firm has a market capitalization of $182.02, a price-to-earnings ratio of 50.47 and a beta of 1.37.
TESSCO Technologies (NASDAQ:TESS) last released its earnings results on Tuesday, January 23rd. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.11. The business had revenue of $146.26 million during the quarter, compared to the consensus estimate of $144.00 million. TESSCO Technologies had a return on equity of 3.43% and a net margin of 0.57%.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.73%. TESSCO Technologies’s payout ratio is currently 210.53%.
Several research firms have commented on TESS. Zacks Investment Research raised shares of TESSCO Technologies from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Saturday, January 27th. TheStreet raised shares of TESSCO Technologies from a “c+” rating to a “b-” rating in a research note on Monday, December 11th.
In related news, Director Morton Zifferer sold 10,000 shares of TESSCO Technologies stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $22.17, for a total value of $221,700.00. Following the completion of the sale, the director now directly owns 77,839 shares in the company, valued at $1,725,690.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.90% of the company’s stock.
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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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