BlackRock Inc. Invests $1.41 Million in TransAct Technologies Incorporated $TACT

Key Points

• BlackRock acquired 241,956 shares of TransAct Technologies in the second quarter, valued at approximately $1.41 million and representing about 2.35% of the company. Institutional investors collectively own 74.46% of TACT.
• TransAct’s board authorized a $3 million share-repurchase program, allowing the company to buy back up to 8.7% of its outstanding shares, potentially signaling that management views the stock as undervalued.
• TACT opened at $5.14, within its 12-month range of $3.06 to $6.02, while analysts maintain a cautious outlook: the consensus rating is “Reduce,” based on one Hold and one Sell rating.

BlackRock Inc. acquired a new stake in shares of TransAct Technologies Incorporated (NASDAQ:TACT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 241,956 shares of the technology company's stock, valued at approximately $1,413,000. BlackRock Inc. owned about 2.35% of TransAct Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Silverberg Bernstein Capital Management LLC grew its position in TransAct Technologies by 1.7% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company's stock worth $1,945,000 after buying an additional 10,156 shares in the last quarter. Renaissance Technologies LLC increased its stake in TransAct Technologies by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company's stock valued at $1,670,000 after acquiring an additional 18,122 shares during the period. Gamco Investors INC. ET AL raised its holdings in TransAct Technologies by 3.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company's stock valued at $494,000 after acquiring an additional 5,000 shares in the last quarter. NewEdge Advisors LLC raised its holdings in TransAct Technologies by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company's stock valued at $447,000 after acquiring an additional 47,138 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of TransAct Technologies by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company's stock worth $462,000 after acquiring an additional 4,742 shares during the period. Institutional investors own 74.46% of the company's stock.

TransAct Technologies Price Performance

NASDAQ:TACT opened at $5.14 on Monday. TransAct Technologies Incorporated has a 12-month low of $3.06 and a 12-month high of $6.02. The firm has a market capitalization of $53.07 million, a PE ratio of -128.50 and a beta of 1.22. The firm has a 50-day moving average price of $5.19 and a 200 day moving average price of $4.30.

TransAct Technologies announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 13th that authorizes the company to repurchase $3.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

TACT has been the topic of several recent research reports. Zacks Research raised TransAct Technologies to a "hold" rating in a report on Wednesday, June 3rd. Weiss Ratings upgraded TransAct Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised TransAct Technologies to a "hold" rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce".

TransAct Technologies Profile

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company's portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct's products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.

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