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

Frequency Electronics, Inc. (NASDAQ:FEIM) Director Russell M. Sarachek acquired 2,161 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was acquired at an average cost of $15.77 per share, for a total transaction of $34,078.97. Following the acquisition, the director now owns 464,080 shares of the company’s stock, valued at $7,318,541.60. The trade was a 0.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Frequency Electronics Stock Performance

NASDAQ:FEIM opened at $15.53 on Friday. The stock has a 50-day simple moving average of $16.29 and a two-hundred day simple moving average of $15.01. The firm has a market capitalization of $150.28 million, a PE ratio of 18.94 and a beta of 0.41. Frequency Electronics, Inc. has a 52-week low of $8.62 and a 52-week high of $20.33.

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

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Frequency Electronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 25th.

Institutional Trading of Frequency Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of Frequency Electronics during the 4th quarter valued at $27,000. Northern Trust Corp raised its holdings in Frequency Electronics by 6.6% during the fourth quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider’s stock valued at $604,000 after acquiring an additional 2,008 shares during the period. IFP Advisors Inc purchased a new position in shares of Frequency Electronics in the fourth quarter valued at about $85,000. JPMorgan Chase & Co. boosted 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 grew its position 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 worth $549,000 after purchasing an additional 8,116 shares in the last quarter. 58.60% of the stock is owned by hedge funds and other institutional investors.

Frequency Electronics Company Profile

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.