Summit Financial Strategies Inc. Cuts Stock Position in WidePoint Co. (NYSEAMERICAN:WYY)

Summit Financial Strategies Inc. lessened its stake in WidePoint Co. (NYSEAMERICAN:WYY) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 99,567 shares of the technology company’s stock after selling 3,501 shares during the quarter. Summit Financial Strategies Inc. owned approximately 1.03% of WidePoint worth $352,000 at the end of the most recent reporting period.

Separately, Essex Investment Management Co. LLC grew its holdings in shares of WidePoint by 46.2% during the third quarter. Essex Investment Management Co. LLC now owns 46,152 shares of the technology company’s stock worth $163,000 after buying an additional 14,582 shares in the last quarter. Institutional investors and hedge funds own 22.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Litchfield Hills Research raised shares of WidePoint to a “strong-buy” rating in a report on Monday, June 24th.

Insider Buying and Selling at WidePoint

In other WidePoint news, CFO Robert J. George sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $3.53, for a total value of $31,770.00. Following the transaction, the chief financial officer now directly owns 115,474 shares in the company, valued at $407,623.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 5,000 shares of company stock worth $17,000 and have sold 14,750 shares worth $52,833. 14.60% of the stock is currently owned by insiders.

WidePoint Stock Up 0.5 %

NYSEAMERICAN:WYY traded up $0.02 on Thursday, reaching $3.67. 4,147 shares of the company’s stock were exchanged, compared to its average volume of 71,807. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $35.42 million, a PE ratio of -9.86 and a beta of 1.65. WidePoint Co. has a 52-week low of $1.61 and a 52-week high of $4.55.

WidePoint (NYSEAMERICAN:WYY) last released its earnings results on Wednesday, August 14th. The technology company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. WidePoint had a negative net margin of 2.74% and a negative return on equity of 23.31%. The firm had revenue of $36.04 million for the quarter, compared to analyst estimates of $29.64 million. Analysts predict that WidePoint Co. will post -0.23 EPS for the current year.

WidePoint Company Profile

WidePoint Corporation provides technology management as a service (TMaaS) to the government and business enterprises in North America and Europe. It offers TMaaS solutions through a secure federal government certified proprietary portal and secure enterprise portal that provides ability to manage, analyze, and protect communications assets, as well as deploys identity management solutions that provides secured virtual and physical access to restricted environments.