Ameriprise Financial Inc. Has $4.78 Million Stake in Airgain, Inc. (NASDAQ:AIRG)

Ameriprise Financial Inc. raised its holdings in Airgain, Inc. (NASDAQ:AIRG) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 677,584 shares of the technology company’s stock after acquiring an additional 3,283 shares during the period. Ameriprise Financial Inc. owned about 5.97% of Airgain worth $4,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIRG. Virtu Financial LLC acquired a new position in Airgain in the fourth quarter valued at about $73,000. Marshall Wace LLP acquired a new position in Airgain in the fourth quarter valued at about $75,000. Arrowstreet Capital Limited Partnership acquired a new position in Airgain in the fourth quarter valued at about $107,000. Essex Investment Management Co. LLC acquired a new position in Airgain in the fourth quarter valued at about $145,000. Finally, Jane Street Group LLC acquired a new position in Airgain in the fourth quarter valued at about $192,000. 52.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Airgain

In other news, CEO Jacob Suen sold 6,982 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $4.16, for a total value of $29,045.12. Following the completion of the sale, the chief executive officer now directly owns 305,546 shares of the company’s stock, valued at $1,271,071.36. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Arthur M. Toscanini sold 6,912 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $4.01, for a total value of $27,717.12. Following the completion of the sale, the director now directly owns 89,956 shares of the company’s stock, valued at approximately $360,723.56. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,250 shares of company stock worth $133,021 over the last ninety days. 17.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AIRG. Craig Hallum decreased their target price on Airgain from $9.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Wall Street Zen assumed coverage on Airgain in a research report on Tuesday, May 20th. They set a “hold” rating for the company.

Airgain Price Performance

AIRG stock opened at $4.14 on Friday. The stock has a market capitalization of $48.83 million, a P/E ratio of -3.63 and a beta of 0.87. The business has a 50-day moving average of $3.85 and a 200-day moving average of $6.11. Airgain, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $10.34.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.35 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. Equities analysts expect that Airgain, Inc. will post -0.53 EPS for the current year.

About Airgain

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.