Thompson Davis & CO. Inc. Cuts Stake in Frequency Electronics, Inc. (NASDAQ:FEIM)

Thompson Davis & CO. Inc. reduced its position in Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) by 81.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,210 shares of the communications equipment provider's stock after selling 61,924 shares during the period. Thompson Davis & CO. Inc. owned about 0.15% of Frequency Electronics worth $263,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in FEIM. Geode Capital Management LLC grew its stake in shares of Frequency Electronics by 26.3% in the third quarter. Geode Capital Management LLC now owns 92,451 shares of the communications equipment provider's stock worth $1,117,000 after acquiring an additional 19,259 shares during the period. XTX Topco Ltd bought a new stake in Frequency Electronics in the 3rd quarter worth approximately $189,000. Barclays PLC bought a new stake in Frequency Electronics in the 3rd quarter worth approximately $153,000. Finally, Global Retirement Partners LLC purchased a new stake in Frequency Electronics during the 4th quarter valued at $27,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Frequency Electronics Stock Up 2.1 %

Shares of Frequency Electronics stock traded up $0.33 during trading hours on Wednesday, reaching $15.85. 33,985 shares of the stock traded hands, compared to its average volume of 49,691. Frequency Electronics, Inc. has a one year low of $8.62 and a one year high of $20.33. The firm has a market capitalization of $152.33 million, a price-to-earnings ratio of 19.33 and a beta of 0.39. The company has a 50 day moving average price of $17.58 and a 200 day moving average price of $14.70.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its earnings results on Tuesday, December 10th. The communications equipment provider reported $0.28 earnings per share (EPS) for the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Frequency Electronics from a "buy" rating to a "strong-buy" rating in a research note on Friday, December 20th.

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.