Punch & Associates Investment Management Inc. Reduces Stock Holdings in RF Industries, Ltd. $RFIL

Key Points

• Punch & Associates Investment Management Inc. has reduced its stake in RF Industries, Ltd. by 33.1%, now owning approximately 678,797 shares valued at $3.18 million.
• RF Industries has seen mixed analyst ratings, with Zacks Research downgrading it from a "strong-buy" to a "hold," while Wall Street Zen upgraded it to a "strong-buy."
• The stock currently has an average price target of $4.50 and has fluctuated between a low of $3.39 and a high of $9.21 within the past year.

Punch & Associates Investment Management Inc. decreased its position in RF Industries, Ltd. (NASDAQ:RFIL - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 678,797 shares of the electronics maker's stock after selling 335,807 shares during the period. Punch & Associates Investment Management Inc. owned about 6.36% of RF Industries worth $3,184,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Wealthedge Investment Advisors LLC raised its holdings in RF Industries by 171.1% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 58,537 shares of the electronics maker's stock valued at $275,000 after acquiring an additional 36,942 shares during the period. Bailard Inc. bought a new stake in RF Industries during the 1st quarter valued at $126,000. Finally, Dimensional Fund Advisors LP raised its holdings in RF Industries by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 231,733 shares of the electronics maker's stock valued at $906,000 after acquiring an additional 2,062 shares during the period. Hedge funds and other institutional investors own 23.49% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Zacks Research cut shares of RF Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Wall Street Zen raised shares of RF Industries to a "strong-buy" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.50.

RF Industries Stock Performance

RF Industries stock opened at $7.03 on Friday. The stock has a market cap of $75.08 million, a P/E ratio of -54.08 and a beta of 0.88. RF Industries, Ltd. has a fifty-two week low of $3.39 and a fifty-two week high of $9.21. The firm's fifty day moving average price is $7.23 and its 200-day moving average price is $5.31.

RF Industries Profile

RF Industries, Ltd., together with its subsidiaries, designs, manufactures, and markets interconnect products and systems in the United States, Canada, Italy, Mexico, and internationally. The company operates through two segments, RF Connector and Cable Assembly, and Custom Cabling Manufacturing and Assembly.

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