OMERS ADMINISTRATION Corp Buys Shares of 11,500 Frequency Electronics, Inc. $FEIM

Key Points

• OMERS ADMINISTRATION Corp acquired a new stake in Frequency Electronics, purchasing 11,500 shares valued at approximately $180,000.
• Several other hedge funds, including IFP Advisors Inc and Villere ST Denis J & Co. LLC, significantly increased their positions in Frequency Electronics during the first quarter.
• Frequency Electronics' stock rating was downgraded from "buy" to "hold" by Wall Street Zen as of July 18, 2023.

OMERS ADMINISTRATION Corp bought a new stake in shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,500 shares of the communications equipment provider's stock, valued at approximately $180,000. OMERS ADMINISTRATION Corp owned about 0.12% of Frequency Electronics at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FEIM. IFP Advisors Inc raised its holdings in shares of Frequency Electronics by 67.4% during the first quarter. IFP Advisors Inc now owns 7,700 shares of the communications equipment provider's stock valued at $121,000 after acquiring an additional 3,100 shares during the last quarter. Villere ST Denis J & Co. LLC grew its position in shares of Frequency Electronics by 12.8% in the first quarter. Villere ST Denis J & Co. LLC now owns 14,896 shares of the communications equipment provider's stock valued at $233,000 after purchasing an additional 1,696 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Frequency Electronics in the fourth quarter valued at approximately $238,000. Jane Street Group LLC purchased a new stake in shares of Frequency Electronics in the fourth quarter valued at approximately $402,000. Finally, Moors & Cabot Inc. grew its position in shares of Frequency Electronics by 23.6% in the first quarter. Moors & Cabot Inc. now owns 26,163 shares of the communications equipment provider's stock valued at $409,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Frequency Electronics from a "buy" rating to a "hold" rating in a research report on Friday, July 18th.

Frequency Electronics Stock Performance

Shares of Frequency Electronics stock opened at $33.04 on Friday. The firm has a market capitalization of $322.14 million, a price-to-earnings ratio of 13.38 and a beta of 0.50. Frequency Electronics, Inc. has a fifty-two week low of $11.71 and a fifty-two week high of $33.72. The stock has a 50 day moving average of $26.57 and a 200 day moving average of $20.61.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The communications equipment provider reported $0.34 earnings per share for the quarter. The company had revenue of $19.99 million during the quarter. Frequency Electronics had a return on equity of 53.83% and a net margin of 34.09%.

About Frequency Electronics

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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