Russell M. Sarachek Purchases 2,161 Shares of Frequency Electronics, Inc. (NASDAQ:FEIM) Stock

Frequency Electronics, Inc. (NASDAQ:FEIM) Director Russell M. Sarachek bought 2,161 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were acquired at an average cost of $15.77 per share, with a total value of $34,078.97. Following the purchase, the director now directly owns 464,080 shares of the company’s stock, valued at approximately $7,318,541.60. This represents a 0.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Frequency Electronics Price Performance

FEIM opened at $15.53 on Friday. The firm has a market cap of $150.28 million, a PE ratio of 18.94 and a beta of 0.41. The stock has a 50-day moving average price of $16.29 and a 200-day moving average price of $15.01. Frequency Electronics, Inc. has a 1 year low of $8.62 and a 1 year high of $20.33.

Frequency Electronics (NASDAQ:FEIM) last issued its earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share (EPS) for the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%. The business had revenue of $18.93 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Frequency Electronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 25th.

Institutional Trading of Frequency Electronics

Several institutional investors have recently added to or reduced their stakes in FEIM. Global Retirement Partners LLC purchased a new position in shares of Frequency Electronics in the fourth quarter worth $27,000. Northern Trust Corp raised its position in Frequency Electronics by 6.6% in the 4th quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider’s stock worth $604,000 after buying an additional 2,008 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Frequency Electronics during the 4th quarter valued at about $85,000. JPMorgan Chase & Co. grew its stake in shares of Frequency Electronics by 373.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock worth $114,000 after acquiring an additional 4,860 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Frequency Electronics by 37.7% during the fourth quarter. Millennium Management LLC now owns 29,622 shares of the communications equipment provider’s stock valued at $549,000 after purchasing an additional 8,116 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

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.