pdvWireless (PDVW) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of pdvWireless (NASDAQ:PDVW) from a buy rating to a strong-buy rating in a report released on Friday morning.

Other research analysts have also recently issued reports about the company. ValuEngine upgraded pdvWireless from a hold rating to a buy rating in a research note on Friday, June 15th. TheStreet upgraded pdvWireless from a d+ rating to a c- rating in a research report on Tuesday, September 4th. Finally, Zacks Investment Research upgraded pdvWireless from a sell rating to a hold rating and set a $36.00 price target for the company in a research report on Tuesday, August 14th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $47.50.

Shares of NASDAQ:PDVW opened at $36.31 on Friday. pdvWireless has a 52-week low of $22.50 and a 52-week high of $39.75. The stock has a market capitalization of $491.88 million, a PE ratio of -15.58 and a beta of 0.77.

pdvWireless (NASDAQ:PDVW) last announced its quarterly earnings data on Friday, August 10th. The wireless provider reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $0.39. pdvWireless had a negative return on equity of 16.02% and a negative net margin of 517.89%. The firm had revenue of $1.87 million during the quarter, compared to analysts’ expectations of $1.26 million. As a group, research analysts anticipate that pdvWireless will post -2.91 EPS for the current year.

In other pdvWireless news, major shareholder Bravo Fund Ii L.P. Pimco sold 25,100 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $31.84, for a total value of $799,184.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Owl Creek Asset Management, L. acquired 3,986 shares of the company’s stock in a transaction on Tuesday, July 17th. The stock was acquired at an average cost of $26.23 per share, for a total transaction of $104,552.78. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 90,218 shares of company stock valued at $2,467,367. 12.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of PDVW. Trexquant Investment LP acquired a new stake in pdvWireless in the second quarter valued at approximately $221,000. Citadel Advisors LLC acquired a new stake in pdvWireless in the second quarter valued at approximately $366,000. Swiss National Bank grew its holdings in pdvWireless by 12.7% in the first quarter. Swiss National Bank now owns 15,950 shares of the wireless provider’s stock valued at $476,000 after purchasing an additional 1,800 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in pdvWireless by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,990 shares of the wireless provider’s stock valued at $1,173,000 after purchasing an additional 2,965 shares during the period. Finally, Serengeti Asset Management LP acquired a new stake in pdvWireless in the second quarter valued at approximately $1,198,000. 89.86% of the stock is currently owned by institutional investors.

pdvWireless Company Profile

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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