TransAct Technologies (TACT) Downgraded by ValuEngine to “Hold”

ValuEngine lowered shares of TransAct Technologies (NASDAQ:TACT) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other equities research analysts have also commented on the company. B. Riley raised their price objective on TransAct Technologies from $16.00 to $16.50 and gave the stock a buy rating in a research report on Wednesday. Zacks Investment Research lowered TransAct Technologies from a buy rating to a hold rating in a research report on Thursday, October 4th.

Shares of NASDAQ:TACT traded down $0.16 during midday trading on Wednesday, reaching $12.98. The company had a trading volume of 653 shares, compared to its average volume of 16,015. TransAct Technologies has a 1-year low of $10.41 and a 1-year high of $15.95. The firm has a market capitalization of $112.51 million, a price-to-earnings ratio of 21.61 and a beta of 0.67.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.09. TransAct Technologies had a return on equity of 21.41% and a net margin of 7.23%. The business had revenue of $15.84 million during the quarter, compared to analyst estimates of $15.49 million. On average, analysts anticipate that TransAct Technologies will post 0.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.36 dividend on an annualized basis and a yield of 2.77%. TransAct Technologies’s payout ratio is presently 60.00%.

In other news, CFO Steven A. Demartino sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $14.57, for a total transaction of $72,850.00. Following the completion of the sale, the chief financial officer now directly owns 57,243 shares of the company’s stock, valued at approximately $834,030.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bart C. Shuldman sold 3,462 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $14.40, for a total value of $49,852.80. Following the sale, the chairman now directly owns 19,854 shares of the company’s stock, valued at $285,897.60. The disclosure for this sale can be found here. Insiders have sold a total of 9,734 shares of company stock valued at $140,956 over the last 90 days. Corporate insiders own 12.53% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Manatuck Hill Partners LLC purchased a new stake in shares of TransAct Technologies during the 2nd quarter worth about $246,000. Acadian Asset Management LLC raised its stake in shares of TransAct Technologies by 23.8% during the 2nd quarter. Acadian Asset Management LLC now owns 73,585 shares of the technology company’s stock worth $920,000 after purchasing an additional 14,156 shares in the last quarter. Cadence Capital Management LLC raised its stake in shares of TransAct Technologies by 20.4% in the 2nd quarter. Cadence Capital Management LLC now owns 149,350 shares of the technology company’s stock valued at $1,867,000 after acquiring an additional 25,330 shares in the last quarter. Cowen Prime Services LLC raised its stake in shares of TransAct Technologies by 5.4% in the 2nd quarter. Cowen Prime Services LLC now owns 163,291 shares of the technology company’s stock valued at $2,041,000 after acquiring an additional 8,299 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of TransAct Technologies by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 295,092 shares of the technology company’s stock valued at $3,689,000 after acquiring an additional 7,428 shares in the last quarter. 41.33% of the stock is owned by institutional investors.

TransAct Technologies Company Profile

TransAct Technologies Incorporated designs, develops, assembles, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal, inkjet, and impact printers and terminals to generate labels and transaction records, such as receipts, tickets, coupons, register journals, and other documents, as well as printed logging and plotting of data.

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