Cove Street Capital LLC lessened its holdings in Westell Technologies Inc. (NASDAQ:WSTL) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 726,302 shares of the communications equipment provider’s stock after selling 522,903 shares during the period. Cove Street Capital LLC owned 4.67% of Westell Technologies worth $2,724,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in WSTL. Essex Investment Management Co. LLC lifted its position in shares of Westell Technologies by 160.1% during the third quarter. Essex Investment Management Co. LLC now owns 130,162 shares of the communications equipment provider’s stock worth $387,000 after purchasing an additional 80,120 shares in the last quarter. Royce & Associates LP lifted its holdings in Westell Technologies by 107.5% in the third quarter. Royce & Associates LP now owns 552,938 shares of the communications equipment provider’s stock valued at $1,642,000 after buying an additional 286,405 shares during the period. Algert Global LLC acquired a new position in Westell Technologies in the fourth quarter valued at approximately $1,024,000. Alambic Investment Management L.P. acquired a new position in Westell Technologies in the fourth quarter valued at approximately $112,000. Finally, Virtu Financial LLC acquired a new position in Westell Technologies in the fourth quarter valued at approximately $122,000. 28.00% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Westell Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of Westell Technologies from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research report on Wednesday, February 14th. Finally, TheStreet upgraded shares of Westell Technologies from a “d+” rating to a “c-” rating in a research note on Friday, December 15th.
Shares of WSTL stock opened at $3.50 on Wednesday. Westell Technologies Inc. has a 12 month low of $2.32 and a 12 month high of $4.60. The firm has a market cap of $55.85, a PE ratio of 175.00 and a beta of 1.55.
Westell Technologies (NASDAQ:WSTL) last released its earnings results on Wednesday, February 7th. The communications equipment provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.03 by $0.05. The firm had revenue of $13.68 million for the quarter, compared to analyst estimates of $15.04 million. Westell Technologies had a net margin of 0.62% and a return on equity of 7.42%. equities research analysts expect that Westell Technologies Inc. will post 0.3 earnings per share for the current year.
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Westell Technologies Profile
Westell Technologies, Inc is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG).
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