Insider Selling: WidePoint (NYSEAMERICAN:WYY) CFO Sells $272,813.12 in Stock

WidePoint Corporation (NYSEAMERICAN:WYY) CFO Robert George sold 16,882 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $16.16, for a total value of $272,813.12. Following the completion of the sale, the chief financial officer directly owned 19,842 shares of the company’s stock, valued at approximately $320,646.72. This represents a 45.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

WidePoint Stock Up 4.0%

Shares of WYY stock traded up $0.67 during trading hours on Tuesday, reaching $17.46. 267,484 shares of the company’s stock were exchanged, compared to its average volume of 154,700. WidePoint Corporation has a 1 year low of $2.80 and a 1 year high of $24.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. The stock has a market cap of $172.68 million, a PE ratio of -87.30 and a beta of 1.80. The stock’s fifty day moving average price is $10.33 and its two-hundred day moving average price is $7.22.

WidePoint (NYSEAMERICAN:WYY) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. The firm had revenue of $40.58 million during the quarter, compared to analyst estimates of $37.87 million. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. Research analysts predict that WidePoint Corporation will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

WYY has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of WidePoint in a report on Monday, March 30th. Zacks Research raised WidePoint from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 28th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

Institutional Investors Weigh In On WidePoint

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of WidePoint by 19,130.8% during the first quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,974 shares during the period. PNC Financial Services Group Inc. acquired a new position in WidePoint in the 1st quarter worth approximately $50,000. Cassaday & Co Wealth Management LLC purchased a new position in WidePoint during the 1st quarter worth approximately $87,000. NewEdge Advisors LLC lifted its stake in WidePoint by 194.5% during the 4th quarter. NewEdge Advisors LLC now owns 46,028 shares of the technology company’s stock valued at $247,000 after acquiring an additional 30,397 shares during the period. Finally, State Street Corp lifted its stake in WidePoint by 9.7% during the 4th quarter. State Street Corp now owns 27,153 shares of the technology company’s stock valued at $146,000 after acquiring an additional 2,400 shares during the period. Institutional investors and hedge funds own 22.60% of the company’s stock.

WidePoint Company Profile

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.