Owl Creek Asset Management buys $52,234,931 stake in pdvWireless Inc (PDVW)

pdvWireless Inc (PDVW) : Owl Creek Asset Management scooped up 59,691 additional shares in pdvWireless Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 2,132,038 shares of pdvWireless Inc which is valued at $52,234,931.pdvWireless Inc makes up approximately 4.25% of Owl Creek Asset Management’s portfolio.

Other Hedge Funds, Including , Rhumbline Advisers reduced its stake in PDVW by selling 2,280 shares or 15.57% in the most recent quarter. The Hedge Fund company now holds 12,363 shares of PDVW which is valued at $275,077. Teacher Retirement System Of Texas sold out all of its stake in PDVW during the most recent quarter. The investment firm sold 1,241 shares of PDVW which is valued $27,178. Gilder Gagnon Howe Co sold out all of its stake in PDVW during the most recent quarter. The investment firm sold 27,407 shares of PDVW which is valued $630,361.

pdvWireless Inc opened for trading at $24.85 and hit $25.05 on the upside on Monday, eventually ending the session at $25, with a gain of 0.81% or 0.2 points. The heightened volatility saw the trading volume jump to 37,267 shares. Company has a market cap of $358 M.

On the company’s financial health, pdvWireless Inc reported $-0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $-0.50. The company had revenue of $1.14 million for the quarter, compared to analysts expectations of $.80 million. The company’s revenue was up 40.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.38 EPS.

pdvWireless Inc. formerly Pacific DataVision Inc. focuses on wireless industry and delivering its two-way radio services that include cloud-based mobile work-force management solutions. The Company provides end users with a true push-to-talk (PTT) experience which uses technology that helps business customers in field communication documentation and productivity to the next level. The Company also focuses on industry verticals with mobile workforce such as transportation distribution construction hospitality waste management and field service. The Company offers products such as DispatchPlus and pdvConnect. DispatchPlus is a cloud-based workforce management solution with features that are designed for dispatch-centric operations. The Company’s pdvConnect is a workforce management solution that offers businesses the opportunity to manage their field service workers.

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