683 Capital Management LLC Purchases New Stake in Frequency Electronics, Inc. (NASDAQ:FEIM)

683 Capital Management LLC bought a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 37,061 shares of the communications equipment provider's stock, valued at approximately $686,000. 683 Capital Management LLC owned 0.39% of Frequency Electronics as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in Frequency Electronics during the 4th quarter worth $402,000. Schonfeld Strategic Advisors LLC bought a new stake in Frequency Electronics during the fourth quarter worth about $238,000. Northern Trust Corp raised its stake in shares of Frequency Electronics by 6.6% during the 4th quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider's stock worth $604,000 after purchasing an additional 2,008 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Frequency Electronics in the fourth quarter valued at $382,000. Finally, Susquehanna International Group LLP lifted its stake in Frequency Electronics by 204.8% in the 4th quarter. Susquehanna International Group LLP now owns 83,538 shares of the communications equipment provider's stock valued at $1,547,000 after purchasing an additional 56,134 shares during the last quarter. Institutional investors own 58.60% of the company's stock.

Frequency Electronics Stock Down 4.0 %

Shares of Frequency Electronics stock opened at $17.85 on Friday. The company has a 50-day simple moving average of $16.16 and a two-hundred day simple moving average of $15.80. Frequency Electronics, Inc. has a twelve month low of $8.62 and a twelve month high of $20.33. The stock has a market capitalization of $172.73 million, a price-to-earnings ratio of 21.77 and a beta of 0.43.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last released its earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share (EPS) for the quarter. The company had revenue of $18.93 million for the quarter. Frequency Electronics had a return on equity of 21.49% and a net margin of 13.02%.

Insiders Place Their Bets

In related news, Director Russell M. Sarachek acquired 2,161 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average price of $15.77 per share, with a total value of $34,078.97. Following the purchase, the director now directly owns 464,080 shares in the company, valued at approximately $7,318,541.60. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 26.10% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Frequency Electronics from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 25th.

Frequency Electronics Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.

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