Insider Buying: pdvWireless (PDVW) Major Shareholder Acquires $764,132.04 in Stock

pdvWireless (NASDAQ:PDVW) major shareholder Owl Creek Asset Management, L. acquired 24,052 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The stock was bought at an average cost of $31.77 per share, for a total transaction of $764,132.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Owl Creek Asset Management, L. also recently made the following trade(s):

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  • On Wednesday, April 18th, Owl Creek Asset Management, L. acquired 8,746 shares of pdvWireless stock. The stock was bought at an average cost of $31.73 per share, for a total transaction of $277,510.58.
  • On Monday, April 16th, Owl Creek Asset Management, L. acquired 56,327 shares of pdvWireless stock. The stock was bought at an average cost of $29.93 per share, for a total transaction of $1,685,867.11.
  • On Friday, April 13th, Owl Creek Asset Management, L. acquired 11,701 shares of pdvWireless stock. The stock was bought at an average cost of $29.86 per share, for a total transaction of $349,391.86.

Shares of PDVW opened at $31.50 on Monday. pdvWireless has a 52-week low of $21.40 and a 52-week high of $39.75. The company has a market capitalization of $455.90, a price-to-earnings ratio of -11.58 and a beta of 0.70.

pdvWireless (NASDAQ:PDVW) last issued its quarterly earnings results on Tuesday, February 6th. The wireless provider reported ($0.59) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.02. pdvWireless had a negative return on equity of 17.38% and a negative net margin of 613.47%. The firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.50 million. equities research analysts anticipate that pdvWireless will post -2.36 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new position in pdvWireless in the third quarter valued at approximately $212,000. Schwab Charles Investment Management Inc. lifted its stake in pdvWireless by 12.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 40,238 shares of the wireless provider’s stock valued at $1,292,000 after buying an additional 4,472 shares during the period. Alliancebernstein L.P. acquired a new position in pdvWireless in the fourth quarter valued at approximately $209,000. BlackRock Inc. lifted its stake in pdvWireless by 1.6% in the fourth quarter. BlackRock Inc. now owns 646,386 shares of the wireless provider’s stock valued at $20,749,000 after buying an additional 10,333 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in pdvWireless by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock valued at $190,000 after buying an additional 448 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on PDVW shares. BidaskClub lowered pdvWireless from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 21st. ValuEngine raised pdvWireless from a “hold” rating to a “buy” rating in a research note on Friday, April 6th. Zacks Investment Research raised pdvWireless from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Friday, January 5th. Finally, TheStreet raised pdvWireless from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. pdvWireless has an average rating of “Hold” and a consensus price target of $47.50.

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About pdvWireless

pdvWireless, Inc operates as a wireless communications carrier, and provider of network and mobile communication solutions to infrastructure and enterprise customers. The company is deploying push-to-talk networks and two-way radio service to businesses in industry verticals, such as construction, distribution, transportation, field services, waste management, and hospitality.

Insider Buying and Selling by Quarter for pdvWireless (NASDAQ:PDVW)

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