Insider Selling: WidePoint (NYSEAMERICAN:WYY) CFO Sells $272,813.12 in Stock

WidePoint Corporation (NYSEAMERICAN:WYY) CFO Robert George sold 16,882 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $16.16, for a total value of $272,813.12. Following the completion of the sale, the chief financial officer owned 19,842 shares in the company, valued at approximately $320,646.72. This represents a 45.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

WidePoint Price Performance

NYSEAMERICAN:WYY opened at $15.92 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $157.45 million, a price-to-earnings ratio of -79.60 and a beta of 1.71. The company has a 50 day moving average price of $11.02 and a 200-day moving average price of $7.44. WidePoint Corporation has a 1-year low of $2.80 and a 1-year high of $24.30.

WidePoint (NYSEAMERICAN:WYY) last posted its earnings results on Thursday, May 14th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.13. WidePoint had a negative net margin of 1.24% and a negative return on equity of 16.24%. The firm had revenue of $40.58 million during the quarter, compared to analysts’ expectations of $37.87 million. Equities research analysts forecast that WidePoint Corporation will post 0.04 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WYY shares. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of WidePoint in a research note on Monday, March 30th. Zacks Research upgraded WidePoint from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, WidePoint has an average rating of “Moderate Buy” and an average target price of $8.67.

Hedge Funds Weigh In On WidePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in WidePoint by 19,130.8% in the 1st quarter. Royal Bank of Canada now owns 5,000 shares of the technology company’s stock worth $25,000 after buying an additional 4,974 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of WidePoint during the first quarter valued at approximately $50,000. XTX Topco Ltd purchased a new position in shares of WidePoint in the second quarter valued at approximately $58,000. NewEdge Advisors LLC purchased a new position in shares of WidePoint in the second quarter valued at approximately $74,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of WidePoint in the fourth quarter worth approximately $79,000. 22.60% of the stock is owned by hedge funds and other institutional investors.

WidePoint Company Profile

WidePoint Corporation (NYSE American: WYY) is a provider of secure mobility management and identity management solutions. Headquartered in Reston, Virginia, the company delivers a range of managed services designed to help organizations control and secure their telecommunications and IT environments. Since its inception in the late 1990s, WidePoint has focused on helping businesses and government agencies optimize their mobile device portfolios and ensure regulatory compliance.

WidePoint’s core offerings include mobile device management, telecom expense management, and unified endpoint security.