CWA Asset Management Group LLC raised its holdings in RELM Wireless Co. (NYSE:RWC) by 0.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,320,062 shares of the company’s stock after purchasing an additional 417 shares during the period. RELM Wireless accounts for approximately 2.8% of CWA Asset Management Group LLC’s portfolio, making the stock its 6th largest holding. CWA Asset Management Group LLC owned approximately 16.76% of RELM Wireless worth $8,700,000 as of its most recent SEC filing.
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RELM Wireless Co. (RWC) remained flat at $4.00 during trading on Tuesday. The company had a trading volume of 5,478 shares. The company has a 50 day moving average of $3.70 and a 200 day moving average of $4.37. The firm has a market cap of $55.07 million and a PE ratio of 75.47. RELM Wireless Co. has a 52 week low of $3.40 and a 52 week high of $5.56.
RELM Wireless announced that its board has approved a stock repurchase program on Thursday, June 15th that authorizes the company to buyback 500,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
Separately, TheStreet downgraded shares of RELM Wireless from a “b” rating to a “c” rating in a research note on Monday, June 12th.
RELM Wireless Profile
RELM Wireless Corporation (RELM) provides two-way radio communications equipment. RELM designs, manufactures and markets wireless communications products consisting of two-way land mobile radios, repeaters, base stations, and related components and subsystems. Two-way land mobile radios include units that are hand-held (portable) or installed in vehicles (mobile).
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