Issuer Direct (ISDR) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Issuer Direct (NYSEAMERICAN:ISDR) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “ISSUER DIRECT CORPORATION operates under several brands in the market, including Elite Financial Press, My EDGAR, Bassett Press, Edgarization, The Edgar Service Bureau, iProxy Direct, Issuer Logistics, Comply, Shareholder Direct, and Audit Ready. As an issuer services focused company, Issuer Direct Corporation helps companies produce and distribute their financial and business communications both online and in print. The Company leverages its securities compliance and regulatory expertise to provide a comprehensive set of services that enhance a client’s ability to communicate effectively with its shareholder base while meeting all reporting regulations required. “

Separately, Northland Securities reiterated a buy rating and set a $21.00 price target on shares of Issuer Direct in a report on Friday, March 1st.

Shares of NYSEAMERICAN:ISDR traded down $0.66 during mid-day trading on Thursday, hitting $12.15. 1,803 shares of the company traded hands, compared to its average volume of 6,127. Issuer Direct has a 12-month low of $9.75 and a 12-month high of $21.85.

Issuer Direct (NYSEAMERICAN:ISDR) last announced its earnings results on Thursday, February 28th. The information technology services provider reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $3.65 million for the quarter, compared to analysts’ expectations of $3.40 million.

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of Issuer Direct by 57.1% during the 3rd quarter. Renaissance Technologies LLC now owns 21,673 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 7,873 shares during the period. Vanguard Group Inc. raised its stake in shares of Issuer Direct by 21.5% during the 3rd quarter. Vanguard Group Inc. now owns 66,378 shares of the information technology services provider’s stock valued at $1,015,000 after purchasing an additional 11,732 shares during the period. Finally, Vanguard Group Inc raised its stake in shares of Issuer Direct by 21.5% during the 3rd quarter. Vanguard Group Inc now owns 66,378 shares of the information technology services provider’s stock valued at $1,015,000 after purchasing an additional 11,732 shares during the period.

About Issuer Direct

Issuer Direct Corporation provides disclosure management solutions, shareholder communications tools, and cloud-based compliance technologies in North America and Europe. It offers products and services that enable companies' to produce and distribute their financial and business communications online and in print.

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