Westell Technologies Inc. (NASDAQ:WSTL) Position Lessened by Algert Global LLC

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Algert Global LLC trimmed its position in shares of Westell Technologies Inc. (NASDAQ:WSTL) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 281,415 shares of the communications equipment provider’s stock after selling 32,659 shares during the period. Algert Global LLC owned 1.79% of Westell Technologies worth $802,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alambic Investment Management L.P. lifted its position in shares of Westell Technologies by 60.7% during the first quarter. Alambic Investment Management L.P. now owns 48,057 shares of the communications equipment provider’s stock worth $161,000 after acquiring an additional 18,157 shares in the last quarter. RMB Capital Management LLC purchased a new stake in shares of Westell Technologies in the first quarter worth $127,000. Acadian Asset Management LLC raised its position in shares of Westell Technologies by 44.6% in the second quarter. Acadian Asset Management LLC now owns 136,818 shares of the communications equipment provider’s stock worth $390,000 after buying an additional 42,194 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Westell Technologies by 7.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,121,251 shares of the communications equipment provider’s stock worth $4,205,000 after buying an additional 79,193 shares in the last quarter. 21.04% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on the company. TheStreet upgraded Westell Technologies from a “d” rating to a “c-” rating in a research report on Thursday, August 2nd. ValuEngine downgraded Westell Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd.

NASDAQ WSTL traded down $0.14 during trading hours on Wednesday, reaching $2.83. 40,100 shares of the stock traded hands, compared to its average volume of 53,992. Westell Technologies Inc. has a 1 year low of $2.50 and a 1 year high of $4.60. The company has a market capitalization of $44.82 million, a price-to-earnings ratio of 14.15 and a beta of 1.41.

Westell Technologies (NASDAQ:WSTL) last released its quarterly earnings results on Thursday, August 2nd. The communications equipment provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). Westell Technologies had a net margin of 1.02% and a return on equity of 7.09%. The firm had revenue of $13.04 million for the quarter, compared to analysts’ expectations of $15.00 million. analysts expect that Westell Technologies Inc. will post 0.18 earnings per share for the current year.

Westell Technologies Company Profile

Westell Technologies, Inc, through its subsidiary, Westell, Inc, designs and distributes telecommunications products to telephone companies in the United States. The company operates through three segments: In-Building Wireless (IBW), Intelligent Site Management and Services (ISMS), and Communications Network Solutions (CNS).

Further Reading: Outstanding Shares, Buying and Selling Stocks

Institutional Ownership by Quarter for Westell Technologies (NASDAQ:WSTL)

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