Beacon Financial Group reduced its position in Plantronics Inc (NYSE:PLT) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,958 shares of the technology company’s stock after selling 494 shares during the period. Beacon Financial Group’s holdings in Plantronics were worth $267,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Elkfork Partners LLC bought a new position in shares of Plantronics during the fourth quarter worth approximately $100,000. LS Investment Advisors LLC boosted its stake in shares of Plantronics by 5.8% in the third quarter. LS Investment Advisors LLC now owns 2,091 shares of the technology company’s stock valued at $109,000 after buying an additional 114 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Plantronics during the third quarter valued at $221,000. Shelton Capital Management acquired a new stake in shares of Plantronics during the fourth quarter valued at $242,000. Finally, Trexquant Investment LP acquired a new stake in shares of Plantronics during the fourth quarter valued at $246,000. Institutional investors and hedge funds own 90.39% of the company’s stock.
Plantronics Inc (NYSE:PLT) traded up 1.19% on Thursday, hitting $53.41. 40,038 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $53.30 and its 200-day moving average price is $53.30. The company has a market cap of $1.72 billion, a PE ratio of 23.10 and a beta of 1.57. Plantronics Inc has a 12-month low of $38.08 and a 12-month high of $57.79.
Plantronics (NYSE:PLT) last posted its earnings results on Tuesday, January 31st. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by $0.03. The company earned $232.90 million during the quarter, compared to the consensus estimate of $232.26 million. Plantronics had a net margin of 8.62% and a return on equity of 23.07%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. Analysts forecast that Plantronics Inc will post $3.09 earnings per share for the current year.
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Several equities research analysts have recently weighed in on PLT shares. Zacks Investment Research cut shares of Plantronics from a “hold” rating to a “sell” rating in a research report on Thursday, March 23rd. Roth Capital set a $63.00 price target on shares of Plantronics and gave the stock a “buy” rating in a research report on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $57.00.
In other Plantronics news, Director Brian S. Dexheimer sold 2,270 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $52.89, for a total value of $120,060.30. Following the sale, the director now directly owns 18,384 shares in the company, valued at $972,329.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greggory C. Hammann sold 8,313 shares of the firm’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $54.24, for a total value of $450,897.12. Following the completion of the sale, the director now owns 16,384 shares in the company, valued at $888,668.16. The disclosure for this sale can be found here. Insiders sold 30,107 shares of company stock worth $1,614,969 over the last quarter. 4.20% of the stock is currently owned by company insiders.
Plantronics Company Profile
Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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