Chartwell Investment Partners LLC Sells 394,001 Shares of PC-Tel, Inc. (PCTI)

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.

Institutional Ownership by Quarter for PC-Tel (NASDAQ:PCTI)

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%.

ILLEGAL ACTIVITY NOTICE: “Chartwell Investment Partners LLC Sells 394,001 Shares of PC-Tel, Inc. (PCTI)” was reported by sleekmoney and is the sole property of of sleekmoney. If you are viewing this report on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at http://sleekmoney.com/chartwell-investment-partners-llc-sells-394001-shares-of-pc-tel-inc-pcti/1657037.html.

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.

5 Day Chart for NASDAQ:PCTI

Want to see what other hedge funds are holding PCTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PC-Tel, Inc. (NASDAQ:PCTI).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/chartwell-investment-partners-llc-sells-394001-shares-of-pc-tel-inc-pcti/1657037.html

Receive News & Ratings for PC-Tel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC-Tel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *