pdvWireless Inc (PDVW) Position Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its stake in pdvWireless Inc (NASDAQ:PDVW) by 9.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,025 shares of the wireless provider’s stock after acquiring an additional 3,787 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.30% of pdvWireless worth $1,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Chicago Equity Partners LLC acquired a new stake in pdvWireless during the 1st quarter worth $430,000. Deutsche Bank AG boosted its stake in pdvWireless by 136.2% during the 4th quarter. Deutsche Bank AG now owns 22,661 shares of the wireless provider’s stock worth $725,000 after purchasing an additional 13,068 shares during the last quarter. BlackRock Inc. boosted its stake in pdvWireless by 1.6% during the 4th quarter. BlackRock Inc. now owns 646,386 shares of the wireless provider’s stock worth $20,749,000 after purchasing an additional 10,333 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in pdvWireless during the 4th quarter worth $209,000. Finally, MetLife Investment Advisors LLC acquired a new stake in pdvWireless during the 4th quarter worth $108,000. 90.60% of the stock is owned by institutional investors.

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In other news, EVP Richard E. Rohmann sold 900 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $28.75, for a total transaction of $25,875.00. Following the transaction, the executive vice president now owns 7,411 shares of the company’s stock, valued at approximately $213,066.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Owl Creek Asset Management, L. purchased 11,701 shares of the stock in a transaction dated Friday, April 13th. The shares were purchased at an average cost of $29.86 per share, for a total transaction of $349,391.86. The disclosure for this purchase can be found here. In the last three months, insiders have bought 152,721 shares of company stock worth $4,311,435 and have sold 2,700 shares worth $74,799. Insiders own 10.91% of the company’s stock.

Shares of pdvWireless opened at $25.40 on Friday, Marketbeat reports. The stock has a market cap of $363.46 million, a PE ratio of -10.90 and a beta of 0.63. pdvWireless Inc has a twelve month low of $22.50 and a twelve month high of $39.75.

pdvWireless (NASDAQ:PDVW) last announced its quarterly earnings results on Tuesday, June 5th. The wireless provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.04). The firm had revenue of $1.78 million for the quarter, compared to analyst estimates of $1.55 million. pdvWireless had a negative net margin of 481.95% and a negative return on equity of 15.58%. analysts expect that pdvWireless Inc will post -2.97 earnings per share for the current year.

Several equities research analysts have issued reports on PDVW shares. BidaskClub raised shares of pdvWireless from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 13th. Zacks Investment Research cut shares of pdvWireless from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Finally, ValuEngine raised shares of pdvWireless from a “hold” rating to a “buy” rating in a research note on Friday, April 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.50.

pdvWireless Profile

pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers. It offers The TeamConnect service combines pdvConnect, 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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