Insider Selling: pdvWireless Inc (NASDAQ:PDVW) Major Shareholder Sells 72,843 Shares of Stock

pdvWireless Inc (NASDAQ:PDVW) major shareholder Stephen Feinberg sold 72,843 shares of pdvWireless stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $48.95, for a total transaction of $3,565,664.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Stephen Feinberg also recently made the following trade(s):

  • On Tuesday, June 11th, Stephen Feinberg sold 2,035 shares of pdvWireless stock. The shares were sold at an average price of $49.00, for a total transaction of $99,715.00.
  • On Tuesday, June 4th, Stephen Feinberg sold 139,413 shares of pdvWireless stock. The shares were sold at an average price of $48.27, for a total transaction of $6,729,465.51.
  • On Tuesday, May 28th, Stephen Feinberg sold 280,134 shares of pdvWireless stock. The stock was sold at an average price of $50.18, for a total transaction of $14,057,124.12.
  • On Thursday, May 30th, Stephen Feinberg sold 477,602 shares of pdvWireless stock. The stock was sold at an average price of $49.90, for a total transaction of $23,832,339.80.

NASDAQ PDVW traded down $0.74 during trading hours on Friday, hitting $47.25. The company had a trading volume of 934 shares, compared to its average volume of 132,616. pdvWireless Inc has a fifty-two week low of $24.23 and a fifty-two week high of $51.33. The firm has a market capitalization of $708.33 million, a PE ratio of -16.47 and a beta of 0.29.

Institutional investors and hedge funds have recently modified their holdings of the company. Worth Venture Partners LLC bought a new position in pdvWireless during the fourth quarter valued at about $42,000. Legal & General Group Plc boosted its position in shares of pdvWireless by 45.3% in the 4th quarter. Legal & General Group Plc now owns 1,885 shares of the wireless provider’s stock valued at $70,000 after purchasing an additional 588 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of pdvWireless by 426.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,980 shares of the wireless provider’s stock valued at $70,000 after purchasing an additional 1,604 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in pdvWireless by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,260 shares of the wireless provider’s stock worth $122,000 after acquiring an additional 2,546 shares during the period. Finally, ClariVest Asset Management LLC purchased a new stake in shares of pdvWireless during the 1st quarter worth about $120,000. 89.29% of the stock is currently owned by institutional investors.

PDVW has been the topic of several recent research reports. Craig Hallum boosted their price objective on shares of pdvWireless from $62.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Zacks Investment Research raised shares of pdvWireless from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research note on Thursday, February 14th. BidaskClub raised shares of pdvWireless from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, ValuEngine downgraded shares of pdvWireless from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 11th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. pdvWireless presently has a consensus rating of “Buy” and an average target price of $68.00.

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

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