Qvt Financial Lp buys $17,726,854 stake in pdvWireless Inc (PDVW)

pdvWireless Inc (PDVW) : Qvt Financial Lp scooped up 12,398 additional shares in pdvWireless Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 876,699 shares of pdvWireless Inc which is valued at $17,726,854.pdvWireless Inc makes up approximately 2.36% of Qvt Financial Lp’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in PDVW in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 8,605 shares of pdvWireless Inc which is valued at $173,993.Raymond James Associates reduced its stake in PDVW by selling 5,000 shares or 34.23% in the most recent quarter. The Hedge Fund company now holds 9,605 shares of PDVW which is valued at $194,213.Rhumbline Advisers boosted its stake in PDVW in the latest quarter, The investment management firm added 573 additional shares and now holds a total of 14,643 shares of pdvWireless Inc which is valued at $296,081.Blackrock Fund Advisors reduced its stake in PDVW by selling 85,918 shares or 20.87% in the most recent quarter. The Hedge Fund company now holds 325,725 shares of PDVW which is valued at $6,586,160.Blackrock Institutional Trust Company N.a. reduced its stake in PDVW by selling 6,372 shares or 2.99% in the most recent quarter. The Hedge Fund company now holds 206,671 shares of PDVW which is valued at $4,178,888.

pdvWireless Inc closed down -1.56 points or -6.10% at $24.03 with 68,195 shares getting traded on Thursday. Post opening the session at $25.38, the shares hit an intraday low of $23.5 and an intraday high of $25.38 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, pdvWireless Inc reported $-0.70 EPS for the quarter, missing the analyst consensus estimate by $ -0.41 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.29. The company had revenue of $1.05 million for the quarter, compared to analysts expectations of $.90 million. The company’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.32 EPS.

pdvWireless Inc. formerly Pacific DataVision Inc. focuses on wireless industry and delivering its two-way radio services that include cloud-based mobile work-force management solutions. The Company provides end users with a true push-to-talk (PTT) experience which uses technology that helps business customers in field communication documentation and productivity to the next level. The Company also focuses on industry verticals with mobile workforce such as transportation distribution construction hospitality waste management and field service. The Company offers products such as DispatchPlus and pdvConnect. DispatchPlus is a cloud-based workforce management solution with features that are designed for dispatch-centric operations. The Company’s pdvConnect is a workforce management solution that offers businesses the opportunity to manage their field service workers.

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