Citadel Advisors LLC Purchases Shares of 39,276 Frequency Electronics, Inc. (NASDAQ:FEIM)

Citadel Advisors LLC purchased a new position in Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 39,276 shares of the communications equipment provider's stock, valued at approximately $727,000. Citadel Advisors LLC owned about 0.41% of Frequency Electronics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Marshall Wace LLP increased its stake in shares of Frequency Electronics by 108.7% in the fourth quarter. Marshall Wace LLP now owns 101,703 shares of the communications equipment provider's stock worth $1,884,000 after buying an additional 52,962 shares during the last quarter. Susquehanna International Group LLP increased its stake in shares of Frequency Electronics by 204.8% in the fourth quarter. Susquehanna International Group LLP now owns 83,538 shares of the communications equipment provider's stock worth $1,547,000 after buying an additional 56,134 shares during the last quarter. 683 Capital Management LLC bought a new stake in shares of Frequency Electronics in the fourth quarter worth $686,000. Northern Trust Corp increased its stake in shares of Frequency Electronics by 6.6% in the fourth quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider's stock worth $604,000 after buying an additional 2,008 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Frequency Electronics during the fourth quarter valued at $402,000. Institutional investors own 58.60% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Frequency Electronics from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 25th.

Insider Activity

In other news, Director Russell M. Sarachek purchased 2,161 shares of Frequency Electronics stock in a transaction dated Thursday, March 27th. The stock was bought at an average price of $15.77 per share, with a total value of $34,078.97. Following the completion of the acquisition, the director now owns 464,080 shares in the company, valued at $7,318,541.60. The trade was a 0.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 26.10% of the company's stock.

Frequency Electronics Stock Down 5.1%

FEIM stock traded down $0.98 during trading on Monday, hitting $18.26. 187,486 shares of the company's stock traded hands, compared to its average volume of 75,896. Frequency Electronics, Inc. has a 52 week low of $8.62 and a 52 week high of $21.00. The stock has a fifty day moving average price of $17.42 and a two-hundred day moving average price of $16.67. The stock has a market capitalization of $176.70 million, a price-to-earnings ratio of 22.27 and a beta of 0.38.

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 for the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%. The firm had revenue of $18.93 million during the quarter.

Frequency Electronics Company 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.