TransAct Technologies (TACT) Posts Earnings Results, Beats Estimates By $0.09 EPS

TransAct Technologies (NASDAQ:TACT) issued its quarterly earnings results on Tuesday. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09, Fidelity Earnings reports. The business had revenue of $15.84 million for the quarter, compared to the consensus estimate of $15.49 million. TransAct Technologies had a return on equity of 18.19% and a net margin of 5.91%.

Shares of TACT traded down $2.11 during trading hours on Wednesday, reaching $13.14. 132,703 shares of the company traded hands, compared to its average volume of 22,080. The firm has a market capitalization of $108.75 million, a PE ratio of 21.90 and a beta of 0.67. TransAct Technologies has a 12-month low of $10.41 and a 12-month high of $15.95.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Monday, November 19th. TransAct Technologies’s dividend payout ratio (DPR) is presently 60.00%.

A number of equities analysts have recently issued reports on the company. B. Riley upped their price target 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 raised TransAct Technologies from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, August 7th.

In other news, Chairman Bart C. Shuldman sold 3,462 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $14.40, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven A. Demartino sold 5,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $14.57, for a total transaction of $72,850.00. Following the sale, the chief financial officer now directly owns 57,243 shares in the company, valued at $834,030.51. The disclosure for this sale can be found here. Insiders have sold 9,734 shares of company stock worth $140,956 over the last three months. Corporate insiders own 12.53% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in TACT. Manatuck Hill Partners LLC purchased a new stake in TransAct Technologies in the second quarter valued at $246,000. Acadian Asset Management LLC boosted its holdings in TransAct Technologies by 23.8% in the second quarter. Acadian Asset Management LLC now owns 73,585 shares of the technology company’s stock valued at $920,000 after purchasing an additional 14,156 shares during the last quarter. Cadence Capital Management LLC boosted its holdings in TransAct Technologies by 20.4% in the second quarter. Cadence Capital Management LLC now owns 149,350 shares of the technology company’s stock valued at $1,867,000 after purchasing an additional 25,330 shares during the last quarter. Cowen Prime Services LLC boosted its holdings in TransAct Technologies by 5.4% in the second quarter. Cowen Prime Services LLC now owns 163,291 shares of the technology company’s stock valued at $2,041,000 after purchasing an additional 8,299 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in TransAct Technologies by 12.0% in the first quarter. Dimensional Fund Advisors LP now owns 287,664 shares of the technology company’s stock valued at $3,754,000 after purchasing an additional 30,874 shares during the last quarter. 41.33% of the stock is currently owned by hedge funds and other institutional investors.

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About TransAct Technologies

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.

See Also: Return on Investment (ROI)

Earnings History for TransAct Technologies (NASDAQ:TACT)

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