Insider Selling: WidePoint (NYSEAMERICAN:WYY) COO Sells $240,000.00 in Stock

WidePoint Corporation (NYSEAMERICAN:WYY) COO Todd Dzyak sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the chief operating officer directly owned 115,436 shares of the company’s stock, valued at $2,770,464. The trade was a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Todd Dzyak also recently made the following trade(s):

• On Tuesday, June 23rd, Todd Dzyak sold 10,000 shares of WidePoint stock. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00.

WidePoint Stock Performance

WYY stock traded up $2.58 on Thursday, hitting $20.20. The company had a trading volume of 5,887,301 shares, compared to its average volume of 139,200. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.32. WidePoint Corporation has a 12-month low of $2.80 and a 12-month high of $24.30. The stock has a market cap of $199.78 million, a price-to-earnings ratio of -100.99 and a beta of 1.81. The stock’s 50-day simple moving average is $9.56 and its 200 day simple moving average is $6.98.

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

Institutional Investors Weigh In On WidePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Potomac Capital Management Inc. bought a new position in WidePoint in the 4th quarter worth $1,051,000. Ritholtz Wealth Management purchased a new stake in WidePoint in the fourth quarter worth about $79,000. State Street Corp raised its stake in shares of WidePoint by 9.7% in the fourth quarter. State Street Corp now owns 27,153 shares of the technology company’s stock worth $146,000 after buying an additional 2,400 shares during the period. Jane Street Group LLC raised its stake in shares of WidePoint by 98.6% in the fourth quarter. Jane Street Group LLC now owns 52,751 shares of the technology company’s stock worth $283,000 after buying an additional 26,193 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of WidePoint during the 4th quarter valued at about $152,000. 22.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on WYY shares. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of WidePoint in a research report 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 equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $8.67.

About WidePoint

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.