Insider Buying: Frequency Electronics, Inc. (NASDAQ:FEIM) Director Buys $34,078.97 in Stock

Frequency Electronics, Inc. (NASDAQ:FEIM) Director Russell M. Sarachek acquired 2,161 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was acquired at an average price of $15.77 per share, with a total value of $34,078.97. Following the completion of the transaction, the director now directly owns 464,080 shares of the company’s stock, valued at approximately $7,318,541.60. This represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Frequency Electronics Stock Down 1.4 %

FEIM opened at $15.53 on Monday. The company has a market cap of $150.28 million, a PE ratio of 18.94 and a beta of 0.41. Frequency Electronics, Inc. has a twelve month low of $8.62 and a twelve month high of $20.33. The company has a 50-day moving average price of $16.29 and a 200 day moving average price of $15.02.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings data on Thursday, March 13th. The communications equipment provider reported $1.60 EPS for the quarter. The company had revenue of $18.93 million during the quarter. Frequency Electronics had a return on equity of 21.49% and a net margin of 13.02%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Frequency Electronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 25th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Frequency Electronics during the fourth quarter worth $27,000. IFP Advisors Inc acquired a new position in Frequency Electronics during the fourth quarter worth about $85,000. JPMorgan Chase & Co. grew its stake in Frequency Electronics by 373.6% during the 4th quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock valued at $114,000 after acquiring an additional 4,860 shares in the last quarter. Barclays PLC acquired a new stake in Frequency Electronics in the 3rd quarter valued at about $153,000. Finally, XTX Topco Ltd purchased a new position in Frequency Electronics in the 3rd quarter worth approximately $189,000. 58.60% of the stock is owned by institutional investors and hedge funds.

About Frequency Electronics

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.