Metropolitan Life Insurance Co. NY increased its position in shares of pdvWireless Inc (NASDAQ:PDVW) by 356.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,260 shares of the wireless provider’s stock after purchasing an additional 2,546 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in pdvWireless were worth $122,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC raised its holdings in pdvWireless by 150.0% during the fourth quarter. FNY Investment Advisers LLC now owns 4,500 shares of the wireless provider’s stock worth $168,000 after purchasing an additional 2,700 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in pdvWireless during the third quarter worth $238,000. Strategic Family Wealth Counselors L.L.C. acquired a new position in pdvWireless during the fourth quarter worth $238,000. NJ State Employees Deferred Compensation Plan acquired a new position in pdvWireless during the fourth quarter worth $374,000. Finally, Bank of New York Mellon Corp raised its holdings in pdvWireless by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 128,296 shares of the wireless provider’s stock worth $4,349,000 after purchasing an additional 1,557 shares during the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.
pdvWireless stock opened at $37.01 on Friday. The firm has a market cap of $545.49 million, a price-to-earnings ratio of -15.88 and a beta of 0.53. pdvWireless Inc has a fifty-two week low of $22.50 and a fifty-two week high of $48.39.
pdvWireless (NASDAQ:PDVW) last released its quarterly earnings results on Friday, February 8th. The wireless provider reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.10. The company had revenue of $1.50 million during the quarter, compared to the consensus estimate of $1.69 million. pdvWireless had a negative return on equity of 16.82% and a negative net margin of 591.27%. As a group, sell-side analysts forecast that pdvWireless Inc will post -2.86 EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. BidaskClub cut pdvWireless from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. Zacks Investment Research cut pdvWireless from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, ValuEngine raised pdvWireless from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $48.00.
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pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers primarily in the United States. It offers TeamConnect service, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.
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