Baird Financial Group Inc. raised its holdings in Resonant Inc (NASDAQ:RESN) by 3.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 614,330 shares of the semiconductor company’s stock after purchasing an additional 21,886 shares during the quarter. Baird Financial Group Inc.’s holdings in Resonant were worth $2,365,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of RESN. ClariVest Asset Management LLC purchased a new stake in Resonant in the second quarter valued at $1,008,000. MYDA Advisors LLC purchased a new stake in Resonant in the second quarter valued at $485,000. Sterling Capital Management LLC purchased a new stake in Resonant in the second quarter valued at $282,000. BlackRock Inc. raised its position in Resonant by 107.5% in the second quarter. BlackRock Inc. now owns 67,870 shares of the semiconductor company’s stock valued at $383,000 after purchasing an additional 35,159 shares during the period. Finally, Northern Trust Corp raised its position in Resonant by 122.2% in the second quarter. Northern Trust Corp now owns 47,423 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 26,076 shares during the period. Institutional investors own 19.59% of the company’s stock.
In other news, CEO George B. Holmes sold 7,000 shares of Resonant stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $3.69, for a total value of $25,830.00. Following the completion of the sale, the chief executive officer now directly owns 262,481 shares of the company’s stock, valued at $968,554.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO George B. Holmes sold 20,712 shares of Resonant stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $1.70, for a total value of $35,210.40. Following the completion of the sale, the chief executive officer now directly owns 281,366 shares of the company’s stock, valued at $478,322.20. The disclosure for this sale can be found here. Insiders sold 50,220 shares of company stock valued at $111,495 over the last ninety days. Insiders own 22.30% of the company’s stock.
NASDAQ:RESN opened at $1.60 on Monday. Resonant Inc has a 52 week low of $1.55 and a 52 week high of $8.55. The firm has a market capitalization of $43.35 million, a price-to-earnings ratio of -1.27 and a beta of 1.00.
Resonant (NASDAQ:RESN) last posted its earnings results on Tuesday, November 13th. The semiconductor company reported ($0.17) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.17). Resonant had a negative return on equity of 80.75% and a negative net margin of 4,630.51%. The company had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, equities research analysts expect that Resonant Inc will post -0.89 EPS for the current fiscal year.
A number of research firms have commented on RESN. National Securities restated a “buy” rating and issued a $8.00 target price on shares of Resonant in a research report on Monday, August 13th. Zacks Investment Research downgraded Resonant from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Resonant in a research report on Friday, September 21st. Finally, Loop Capital reduced their target price on Resonant to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Resonant currently has an average rating of “Buy” and a consensus target price of $6.83.
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Resonant Inc, a late-stage development company, engages in the development of filter designs for radio frequency (RF) front-ends used in the mobile device industry in the United States. It uses Infinite Synthesized Networks technology to configure and connect resonators, the building blocks of RF filters.
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