Royce & Associates LP reduced its position in shares of TESSCO Technologies Incorporated (NASDAQ:TESS) by 22.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 461,214 shares of the communications equipment provider’s stock after selling 134,440 shares during the period. Royce & Associates LP owned approximately 5.54% of TESSCO Technologies worth $7,241,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in shares of TESSCO Technologies during the fourth quarter worth about $350,000. Renaissance Technologies LLC boosted its position in shares of TESSCO Technologies by 5.2% in the fourth quarter. Renaissance Technologies LLC now owns 378,500 shares of the communications equipment provider’s stock worth $4,921,000 after buying an additional 18,600 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of TESSCO Technologies by 9.0% in the first quarter. Acadian Asset Management LLC now owns 29,726 shares of the communications equipment provider’s stock worth $468,000 after buying an additional 2,462 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of TESSCO Technologies by 11.0% in the first quarter. Wells Fargo & Company MN now owns 47,587 shares of the communications equipment provider’s stock worth $747,000 after buying an additional 4,700 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of TESSCO Technologies during the first quarter worth $249,000. 59.93% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for TESSCO Technologies (NASDAQ:TESS)

TESSCO Technologies Incorporated (TESS) traded down 1.86% on Friday, reaching $13.20. The company’s stock had a trading volume of 54,769 shares. TESSCO Technologies Incorporated has a 1-year low of $9.75 and a 1-year high of $16.25. The stock has a 50 day moving average price of $14.11 and a 200-day moving average price of $13.89. The company has a market capitalization of $110.38 million, a price-to-earnings ratio of 77.65 and a beta of 1.31.

TESSCO Technologies (NASDAQ:TESS) last announced its quarterly earnings data on Monday, May 8th. The communications equipment provider reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.15. The business had revenue of $122.60 million during the quarter, compared to analyst estimates of $121.32 million. TESSCO Technologies had a net margin of 0.27% and a return on equity of 1.79%. Equities analysts predict that TESSCO Technologies Incorporated will post $0.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 7th. Stockholders of record on Wednesday, May 24th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend was Monday, May 22nd. TESSCO Technologies’s dividend payout ratio is currently 444.44%.

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Separately, Zacks Investment Research raised TESSCO Technologies from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a research report on Thursday, May 11th.

TESSCO Technologies Company Profile

TESSCO Technologies Incorporated architects and delivers the product and value chain solutions to organizations responsible for building, operating, maintaining and reselling cellular, mobile communications, wireless-fidelity (Wi-Fi), machine-to-machine, Internet of Things and wireless backhaul systems.

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