Zacks: Analysts Set $59.00 Target Price for pdvWireless Inc (PDVW)

Shares of pdvWireless Inc (NASDAQ:PDVW) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus price objective of $59.00 for the company and are anticipating that the company will post ($0.57) EPS for the current quarter, according to Zacks. Zacks has also assigned pdvWireless an industry rank of 191 out of 265 based on the ratings given to related companies.

A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of pdvWireless from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of pdvWireless from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. TheStreet upgraded shares of pdvWireless from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. BidaskClub upgraded shares of pdvWireless from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 15th. Finally, B. Riley reiterated a “buy” rating and issued a $59.00 target price on shares of pdvWireless in a research note on Friday, December 15th.

In related news, EVP Richard E. Rohmann sold 900 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $33.45, for a total value of $30,105.00. Following the completion of the transaction, the executive vice president now owns 11,309 shares in the company, valued at approximately $378,286.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Owl Creek Asset Management, L. acquired 99,409 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $31.91 per share, with a total value of $3,172,141.19. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 250,890 shares of company stock valued at $8,005,418 and sold 2,700 shares valued at $85,842. Insiders own 10.91% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PDVW. Schwab Charles Investment Management Inc. raised its position in pdvWireless by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 33,852 shares of the wireless provider’s stock worth $789,000 after purchasing an additional 209 shares during the last quarter. Teachers Advisors LLC raised its position in pdvWireless by 2.2% in the 2nd quarter. Teachers Advisors LLC now owns 18,031 shares of the wireless provider’s stock worth $420,000 after purchasing an additional 391 shares during the last quarter. Northern Trust Corp raised its position in pdvWireless by 2.4% in the 2nd quarter. Northern Trust Corp now owns 118,630 shares of the wireless provider’s stock worth $2,765,000 after purchasing an additional 2,768 shares during the last quarter. State Street Corp raised its position in pdvWireless by 6.4% in the 2nd quarter. State Street Corp now owns 200,591 shares of the wireless provider’s stock worth $4,674,000 after purchasing an additional 12,020 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position 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 during the last quarter. Hedge funds and other institutional investors own 91.75% of the company’s stock.

pdvWireless (PDVW) opened at $32.70 on Friday. pdvWireless has a one year low of $20.00 and a one year high of $36.40. The stock has a market cap of $473.27, a P/E ratio of -13.13 and a beta of 0.60.

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, beating analysts’ consensus estimates of ($0.61) by $0.02. pdvWireless had a negative net margin of 613.47% and a negative return on equity of 17.38%. The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.50 million. equities analysts expect that pdvWireless will post -2.36 earnings per share for the current fiscal year.

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pdvWireless Company Profile

pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.

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