Wedge Capital Management L L P NC lessened its stake in TESSCO Technologies, Inc. (NASDAQ:TESS) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,579 shares of the communications equipment provider’s stock after selling 7,723 shares during the quarter. Wedge Capital Management L L P NC owned about 0.74% of TESSCO Technologies worth $954,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of TESS. Tower Research Capital LLC TRC grew its position in shares of TESSCO Technologies by 732.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,849 shares of the communications equipment provider’s stock worth $102,000 after buying an additional 5,146 shares during the period. Algert Global LLC acquired a new stake in shares of TESSCO Technologies during the 2nd quarter worth approximately $536,000. Acadian Asset Management LLC acquired a new stake in shares of TESSCO Technologies during the 2nd quarter worth approximately $588,000. Raymond James & Associates grew its position in shares of TESSCO Technologies by 18.8% during the 2nd quarter. Raymond James & Associates now owns 40,833 shares of the communications equipment provider’s stock worth $706,000 after buying an additional 6,456 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of TESSCO Technologies by 7.4% during the 1st quarter. California Public Employees Retirement System now owns 56,698 shares of the communications equipment provider’s stock worth $1,313,000 after buying an additional 3,923 shares during the period. Hedge funds and other institutional investors own 62.89% of the company’s stock.
Separately, ValuEngine cut shares of TESSCO Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th.
Shares of NASDAQ TESS opened at $12.00 on Friday. The company has a market cap of $99.18 million, a P/E ratio of 22.21 and a beta of 1.44. TESSCO Technologies, Inc. has a 52-week low of $11.38 and a 52-week high of $24.85.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend is Tuesday, November 13th.
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About TESSCO Technologies
TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.
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