Insider Selling: WidePoint (NYSEAMERICAN:WYY) COO Sells 10,000 Shares

WidePoint Corporation (NYSEAMERICAN:WYY) COO Todd Dzyak sold 10,000 shares of WidePoint stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief operating officer directly owned 135,436 shares of the company’s stock, valued at approximately $2,031,540. This trade represents a 6.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

WidePoint Stock Up 11.4%

Shares of NYSEAMERICAN WYY traded up $1.56 during trading on Tuesday, hitting $15.27. 375,009 shares of the company traded hands, compared to its average volume of 84,400. The firm has a market capitalization of $151.02 million, a price-to-earnings ratio of -76.35 and a beta of 1.80. The business’s fifty day moving average is $9.10 and its 200 day moving average is $6.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.04. WidePoint Corporation has a fifty-two week low of $2.80 and a fifty-two week high of $15.60.

WidePoint (NYSEAMERICAN:WYY) last issued its earnings results on Thursday, May 14th. The technology company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. WidePoint had a negative return on equity of 16.24% and a negative net margin of 1.24%.The company had revenue of $40.58 million during the quarter, compared to the consensus estimate of $37.87 million. Equities research analysts predict that WidePoint Corporation will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WidePoint

A number of institutional investors and hedge funds have recently made changes to their positions in WYY. Royal Bank of Canada lifted its position 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 valued at $25,000 after acquiring an additional 4,974 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of WidePoint in the 1st quarter worth $50,000. XTX Topco Ltd bought a new stake in WidePoint in the 2nd quarter worth about $58,000. NewEdge Advisors LLC bought a new stake in WidePoint in the 2nd quarter worth about $74,000. Finally, Ritholtz Wealth Management purchased a new stake in WidePoint in the 4th quarter valued at about $79,000. Institutional investors and hedge funds own 22.60% of the company’s stock.

Analysts Set New Price Targets

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

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.