Chartwell Investment Partners LLC lowered its stake in shares of PC-Tel, Inc. (NASDAQ:PCTI) by 24.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,244,656 shares of the company’s stock after selling 394,001 shares during the period. Chartwell Investment Partners LLC owned approximately 7.73% of PC-Tel worth $6,584,000 at the end of the most recent reporting period.
Separately, North Star Investment Management Corp. bought a new position in shares of PC-Tel during the third quarter valued at approximately $574,000. 67.66% of the stock is currently owned by hedge funds and other institutional investors.
PC-Tel, Inc. (NASDAQ:PCTI) traded up 0.18% during mid-day trading on Friday, hitting $5.69. The stock had a trading volume of 25,288 shares. PC-Tel, Inc. has a 1-year low of $4.36 and a 1-year high of $6.22. The firm’s 50-day moving average price is $5.53 and its 200-day moving average price is $5.25. The stock’s market cap is $92.10 million.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 8th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 6th. This represents a $0.20 annualized dividend and a dividend yield of 3.51%. PC-Tel’s dividend payout ratio is currently -24.39%.
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PCTI has been the subject of several recent research reports. Zacks Investment Research raised PC-Tel from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Thursday, October 20th. B. Riley reaffirmed a “buy” rating and issued a $7.50 price objective on shares of PC-Tel in a research report on Monday, October 24th.
In other PC-Tel news, CEO Martin H. Singer sold 7,400 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $5.00, for a total transaction of $37,000.00. Following the sale, the chief executive officer now owns 207,427 shares in the company, valued at $1,037,135. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Martin H. Singer sold 13,598 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $5.00, for a total value of $67,990.00. Following the sale, the chief executive officer now owns 207,427 shares in the company, valued at approximately $1,037,135. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,000 shares of company stock worth $338,478. Company insiders own 10.46% of the company’s stock.
PC-Tel Company Profile
PCTEL, Inc (PCTEL) delivers telecom solutions. The Company operates in two segments: Connected Solutions and RF Solutions. The RF Solutions segment develops and provides test equipment, software and engineering services for wireless networks. The Connected Solutions segment designs and delivers antennas and site solutions for wireless networks globally.
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