California Public Employees Retirement System lowered its stake in shares of Wi-Lan Inc. (NASDAQ:WILN) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 443,800 shares of the company’s stock after selling 13,800 shares during the period. California Public Employees Retirement System owned about 0.37% of Wi-Lan worth $1,127,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in WILN. Emerald Acquisition Ltd. purchased a new stake in shares of Wi-Lan during the second quarter valued at $258,000. CIBC World Markets Inc. increased its stake in shares of Wi-Lan by 15.4% in the second quarter. CIBC World Markets Inc. now owns 4,137,299 shares of the company’s stock valued at $10,509,000 after buying an additional 552,035 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Wi-Lan by 6.9% in the second quarter. Acadian Asset Management LLC now owns 4,679,571 shares of the company’s stock valued at $11,820,000 after buying an additional 300,946 shares during the period. 27.84% of the stock is owned by institutional investors.
Wi-Lan Inc. (NASDAQ:WILN) traded up 0.66% during midday trading on Friday, reaching $1.53. 8,529 shares of the company’s stock were exchanged. The stock has a market capitalization of $182.23 million, a price-to-earnings ratio of 38.25 and a beta of 0.98. Wi-Lan Inc. has a 12-month low of $0.93 and a 12-month high of $3.04. The stock’s 50-day moving average is $1.58 and its 200-day moving average is $2.18.
Wi-Lan (NASDAQ:WILN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.04. Wi-Lan had a return on equity of 12.41% and a net margin of 5.99%. The business earned $16 million during the quarter, compared to analysts’ expectations of $23.46 million. During the same period in the previous year, the company posted $0.09 EPS. Wi-Lan’s revenue for the quarter was down 54.4% on a year-over-year basis. On average, equities analysts forecast that Wi-Lan Inc. will post $0.41 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, September 16th were given a $0.0095 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 2.47%. Wi-Lan’s payout ratio is presently 100.03%.
Separately, Canaccord Genuity reaffirmed a “buy” rating on shares of Wi-Lan in a research report on Thursday, July 28th.
Wi-LAN Inc, is a patent licensing company, which focuses on intellectual property, and manages and licenses the patent portfolios of various companies. It operates in a range of markets, including automotive, digital television, Internet, medical, semiconductor and wireless communication technologies.
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