Ritholtz Wealth Management Acquires Shares of 10,197 Frequency Electronics, Inc. $FEIM

Key Points

• Ritholtz Wealth Management has acquired 10,197 shares of Frequency Electronics, Inc. during Q2, valued at approximately $232,000, representing about 0.10% of the company.
• Frequency Electronics' stock has been upgraded to a "hold" rating by Wall Street Zen and has a consensus target price of $43.00 from analysts, indicating positive sentiment.
• The company reported a missed earnings estimate for the last quarter, with earnings per share at $0.07, while analysts had estimated $0.36, alongside revenues of $13.81 million versus the expected $16.53 million.

Ritholtz Wealth Management acquired a new stake in Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,197 shares of the communications equipment provider's stock, valued at approximately $232,000. Ritholtz Wealth Management owned about 0.10% of Frequency Electronics at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC acquired a new position in shares of Frequency Electronics in the 2nd quarter valued at $25,000. IFP Advisors Inc boosted its holdings in shares of Frequency Electronics by 67.4% in the 1st quarter. IFP Advisors Inc now owns 7,700 shares of the communications equipment provider's stock valued at $121,000 after buying an additional 3,100 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Frequency Electronics in the 1st quarter valued at $180,000. Cubist Systematic Strategies LLC acquired a new position in shares of Frequency Electronics in the 1st quarter valued at $183,000. Finally, Villere ST Denis J & Co. LLC boosted its holdings in shares of Frequency Electronics by 12.8% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 14,896 shares of the communications equipment provider's stock valued at $233,000 after buying an additional 1,696 shares in the last quarter. Institutional investors and hedge funds own 58.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FEIM shares. Wall Street Zen upgraded shares of Frequency Electronics from a "sell" rating to a "hold" rating in a report on Saturday. Craig Hallum started coverage on shares of Frequency Electronics in a report on Thursday, September 18th. They issued a "buy" rating and a $43.00 target price for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Frequency Electronics in a research note on Wednesday, October 8th. Finally, UBS Group set a $43.00 price target on shares of Frequency Electronics in a research note on Thursday, September 18th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $43.00.

Frequency Electronics Price Performance

Shares of NASDAQ:FEIM opened at $36.01 on Wednesday. The stock has a market cap of $351.06 million, a P/E ratio of 15.72 and a beta of 0.51. The firm has a fifty day moving average price of $32.44 and a 200 day moving average price of $24.72. Frequency Electronics, Inc. has a 1-year low of $12.17 and a 1-year high of $39.74.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29). The business had revenue of $13.81 million for the quarter, compared to analyst estimates of $16.53 million. Frequency Electronics had a return on equity of 44.02% and a net margin of 32.10%.During the same quarter in the prior year, the company earned $0.25 EPS.

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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