Key Points
- ACCESS Newswire CEO Brian Balbirnie bought 1,750 shares at $6.70 each, spending $11,725, and now directly owns 634,667 shares.
- The purchase came as ACCS stock rose 1.2% and traded at $6.70, near the lower end of its 52-week range of $5.80 to $13.10.
- Wall Street sentiment remains bullish but slightly reduced, with Lake Street Capital cutting its price target to $12 from $14 while maintaining a buy rating; the consensus target is $12.00.
ACCESS Newswire Inc. (NYSEAMERICAN:ACCS - Get Free Report) CEO Brian Balbirnie acquired 1,750 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $6.70 per share, with a total value of $11,725.00. Following the purchase, the chief executive officer directly owned 634,667 shares in the company, valued at approximately $4,252,268.90. This trade represents a 0.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
ACCESS Newswire Stock Up 1.2%
ACCS stock opened at $6.70 on Thursday. The company's 50 day moving average price is $7.01 and its 200 day moving average price is $7.85. The firm has a market capitalization of $26.00 million, a price-to-earnings ratio of -15.23 and a beta of 0.42. ACCESS Newswire Inc. has a fifty-two week low of $5.80 and a fifty-two week high of $13.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.88 and a current ratio of 0.88.
ACCESS Newswire (NYSEAMERICAN:ACCS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter. ACCESS Newswire had a negative net margin of 7.60% and a positive return on equity of 5.57%. The company had revenue of $5.33 million during the quarter. On average, equities research analysts anticipate that ACCESS Newswire Inc. will post 0.32 EPS for the current fiscal year.
Institutional Trading of ACCESS Newswire
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DRW Securities LLC purchased a new stake in shares of ACCESS Newswire during the 4th quarter worth approximately $117,000. Bridgeway Capital Management LLC purchased a new position in shares of ACCESS Newswire in the 2nd quarter valued at $163,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of ACCESS Newswire in the 4th quarter valued at $140,000. Mink Brook Asset Management LLC acquired a new stake in ACCESS Newswire during the 3rd quarter worth $219,000. Finally, Geode Capital Management LLC acquired a new stake in ACCESS Newswire during the 2nd quarter worth $362,000. Institutional investors and hedge funds own 50.02% of the company's stock.
Wall Street Analyst Weigh In
Separately, Lake Street Capital decreased their price objective on shares of ACCESS Newswire from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, ACCESS Newswire presently has an average rating of "Buy" and a consensus price target of $12.00.
Read Our Latest Research Report on ACCESS Newswire
ACCESS Newswire Company Profile
(
Get Free Report)
Issuer Direct Corporation operates as a communications and compliance company, provides solutions for both public relations and investor relations professionals in the United States and internationally. The company provides press release distribution, media databases, media monitoring, and newsrooms through media advantage platform; ACCESSWIRE, a news dissemination and media outreach service; and Webcaster Platform, a cloud-based webcast, webinar, and virtual meeting platform that delivers live and on-demand streaming of events to audiences of various sizes, as well as allows customers to create, produce, and deliver events.
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