Kassirer Asset Management Corp purchased a new stake in shares of Polycom Inc. (NASDAQ:PLCM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the company’s stock, valued at approximately $113,000.
A number of other large investors have also made changes to their positions in PLCM. Norges Bank purchased a new stake in Polycom during the fourth quarter worth $34,876,000. Ramsey Quantitative Systems increased its stake in Polycom by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 45,765 shares of the company’s stock worth $510,000 after buying an additional 2,372 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Polycom by 2.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,445 shares of the company’s stock worth $228,000 after buying an additional 450 shares in the last quarter. Prudential Financial Inc. increased its stake in Polycom by 7.5% in the first quarter. Prudential Financial Inc. now owns 1,447,974 shares of the company’s stock worth $16,145,000 after buying an additional 101,500 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Polycom by 10.7% in the first quarter. BlackRock Inc. now owns 52,370 shares of the company’s stock worth $585,000 after buying an additional 5,059 shares in the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.
Polycom Inc. (NASDAQ:PLCM) remained flat at $12.47 on Friday. The firm’s 50-day moving average price is $12.46 and its 200 day moving average price is $11.91. Polycom Inc. has a 52-week low of $8.79 and a 52-week high of $14.09. The stock has a market capitalization of $1.69 billion, a PE ratio of 77.45 and a beta of 1.41.
Polycom (NASDAQ:PLCM) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. Polycom had a return on equity of 5.17% and a net margin of 1.79%. The firm had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $294.97 million. During the same quarter last year, the firm posted $0.22 EPS. On average, equities analysts predict that Polycom Inc. will post $0.85 earnings per share for the current year.
PLCM has been the subject of a number of research reports. Zacks Investment Research downgraded Polycom from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. TheStreet downgraded Polycom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, BMO Capital Markets reaffirmed a “neutral” rating on shares of Polycom in a research note on Friday, July 8th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $13.00.
Polycom, Inc (Polycom) offers solutions for voice, video and content sharing and a line of support and service solutions. The Company operates in Americas; Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC) geographic segments. The Company’s video, voice and content-management and content-sharing solutions include applications for mobile devices, browser-based video collaboration, cloud-delivered services, conference room systems and home/work office solutions and immersive telepresence.
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