Moors & Cabot Inc. Sells 5,000 Shares of PCTEL, Inc. (NASDAQ:PCTI)

Moors & Cabot Inc. trimmed its holdings in shares of PCTEL, Inc. (NASDAQ:PCTI) by 16.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,000 shares of the Wireless communications provider’s stock after selling 5,000 shares during the period. Moors & Cabot Inc. owned about 0.14% of PCTEL worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC grew its holdings in PCTEL by 23.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 109,443 shares of the Wireless communications provider’s stock worth $525,000 after acquiring an additional 21,144 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of PCTEL in the 2nd quarter valued at about $89,000. Foundry Partners LLC boosted its holdings in shares of PCTEL by 10.9% in the 2nd quarter. Foundry Partners LLC now owns 222,965 shares of the Wireless communications provider’s stock valued at $1,069,000 after buying an additional 21,905 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of PCTEL in the 1st quarter valued at about $101,000. Finally, Millennium Management LLC boosted its holdings in shares of PCTEL by 16.1% in the 4th quarter. Millennium Management LLC now owns 205,200 shares of the Wireless communications provider’s stock valued at $882,000 after buying an additional 28,527 shares in the last quarter. 45.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of PCTEL in a report on Sunday. They issued a “buy” rating on the stock. Lake Street Capital restated a “hold” rating on shares of PCTEL in a report on Monday, October 16th.

PCTEL Price Performance

Shares of PCTEL stock opened at $6.86 on Tuesday. The firm has a market capitalization of $132.74 million, a P/E ratio of 31.18 and a beta of 0.36. The company has a 50 day moving average price of $5.68 and a 200 day moving average price of $5.01. PCTEL, Inc. has a 52 week low of $3.78 and a 52 week high of $6.89.

About PCTEL

PCTEL, Inc, together with its subsidiaries, provides industrial Internet of Thing devices (IoT), antenna systems, and test and measurement solutions worldwide. The company designs and manufactures precision antennas and industrial IoT devices that are deployed in small cells, enterprise Wi-Fi access points, fleet management and transit systems, and in equipment and devices for the industrial IoT.