Nierenberg Investment Management Company, Inc.
revealed that they own a 4.1% stake in RadiSys Corporation (NASDAQ:RSYS) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, July 19th. The investor owns 1,589,653 shares of the stock worth approximately $3,799,271. The reporting parties listed on the disclosure included The D3 Family Fund, LP, The D3 Family Bulldog Fund, LP, The DIII Offshore Fund, LP, Nierenberg Investment Management Company, Inc, Nierenberg Investment Management Offshore, Inc and David Nierenberg. The disclosure is available through EDGAR at this hyperlink.
Nierenberg Investment Management Company, Inc.
provided the following explanation of their ownership:
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A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Malaga Cove Capital LLC raised its stake in RadiSys Corporation by 67.0% in the second quarter. Malaga Cove Capital LLC now owns 36,750 shares of the technology company’s stock worth $139,000 after buying an additional 14,750 shares in the last quarter. TFS Capital LLC bought a new stake in RadiSys Corporation during the first quarter worth $233,000. Trellus Management Company LLC acquired a new stake in shares of RadiSys Corporation during the first quarter valued at approximately $300,000. AXA acquired a new stake in shares of RadiSys Corporation during the first quarter valued at approximately $383,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of RadiSys Corporation during the fourth quarter valued at approximately $739,000. 58.47% of the stock is currently owned by institutional investors.
Shares of RadiSys Corporation (NASDAQ RSYS) traded up 1.27% during midday trading on Friday, reaching $2.39. The company’s stock had a trading volume of 374,897 shares. RadiSys Corporation has a 52 week low of $2.28 and a 52 week high of $5.81. The company has a 50 day moving average of $3.26 and a 200-day moving average of $3.83. The stock’s market capitalization is $93.04 million.
RadiSys Corporation (NASDAQ:RSYS) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.01. RadiSys Corporation had a negative return on equity of 3.27% and a negative net margin of 8.88%. The firm had revenue of $37.61 million for the quarter, compared to analyst estimates of $38.59 million. Equities research analysts predict that RadiSys Corporation will post ($0.08) earnings per share for the current year.
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RSYS has been the topic of several research reports. Roth Capital set a $6.00 target price on RadiSys Corporation and gave the company a “buy” rating in a research report on Friday. Jefferies Group LLC reissued a “buy” rating and issued a $6.25 target price (down from $6.75) on shares of RadiSys Corporation in a research report on Tuesday. Needham & Company LLC cut their price target on RadiSys Corporation from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Monday, July 10th. Lake Street Capital cut their price target on RadiSys Corporation from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Friday, July 7th. Finally, Zacks Investment Research raised RadiSys Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $5.31.
About RadiSys Corporation
Radisys Corporation (Radisys) is a services acceleration company. The Company’s application aware traffic distribution platforms, real-time media processing products and wireless access technologies enable service providers to virtualize and monetize their networks. The Company’s products and services are organized into two segments: Software-Systems, and Embedded Products and Hardware Services.
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