TransAct Technologies (TACT) Downgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of TransAct Technologies (NASDAQ:TACT) from a buy rating to a hold rating in a research note published on Friday.

According to Zacks, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents. “

A number of other brokerages also recently issued reports on TACT. B. Riley increased their price objective on TransAct Technologies from $16.00 to $16.50 and gave the stock a buy rating in a research report on Wednesday, November 7th. ValuEngine downgraded TransAct Technologies from a buy rating to a hold rating in a research report on Wednesday, November 7th.

Shares of TACT stock opened at $10.30 on Friday. TransAct Technologies has a 52-week low of $8.40 and a 52-week high of $15.95. The firm has a market capitalization of $76.04 million, a P/E ratio of 17.17 and a beta of 0.86.

In related news, SVP Tracey S. Chernay sold 7,875 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $10.39, for a total value of $81,821.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tracey S. Chernay sold 4,000 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $10.49, for a total value of $41,960.00. Following the completion of the sale, the senior vice president now owns 4,000 shares in the company, valued at approximately $41,960. The disclosure for this sale can be found here. Insiders sold 143,416 shares of company stock worth $1,510,013 in the last quarter. 12.53% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of TACT. Royce & Associates LP bought a new position in TransAct Technologies in the fourth quarter valued at $257,000. Manatuck Hill Partners LLC increased its stake in TransAct Technologies by 158.8% in the third quarter. Manatuck Hill Partners LLC now owns 50,853 shares of the technology company’s stock valued at $732,000 after acquiring an additional 31,200 shares during the last quarter. North Star Investment Management Corp. increased its stake in TransAct Technologies by 13.6% in the fourth quarter. North Star Investment Management Corp. now owns 113,100 shares of the technology company’s stock valued at $1,016,000 after acquiring an additional 13,500 shares during the last quarter. Cowen Prime Services LLC increased its stake in TransAct Technologies by 39.1% in the fourth quarter. Cowen Prime Services LLC now owns 225,228 shares of the technology company’s stock valued at $2,023,000 after acquiring an additional 63,281 shares during the last quarter. Finally, Cadence Capital Management LLC increased its stake in TransAct Technologies by 16.1% in the third quarter. Cadence Capital Management LLC now owns 173,396 shares of the technology company’s stock valued at $2,497,000 after acquiring an additional 24,046 shares during the last quarter. Institutional investors own 40.50% of the company’s stock.

TransAct Technologies Company Profile

TransAct Technologies Incorporated designs, develops, assembles, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal, inkjet, and impact printers and terminals to generate labels and transaction records, such as receipts, tickets, coupons, register journals, and other documents, as well as printed logging and plotting of data.

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