Stephen Feinberg Buys More Shares Of Pacific DataVision (PDVW)

A developer of wireless communication solutions, Pacific DataVision has seen its stock decline by more than 20% since its Initial Public Offering in February of this year. Based on yesterday’s closing price of $30.69, the company has a market cap of $437 million. For the three months ending June 30, 2015, the company posted revenues of $840,000 and a loss per share of $0.32. This can be explained by the fact that the company is currently deploying its advanced digital dispatch networks and has included the costs related to these operations into its financial report. The revenue, however, accounts only for the income streams generated by its software business. For the current quarter, market analysts expect Pacific DataVision to register $700,000 in revenues and a loss of $0.38 per share.

“Our recent results continue to reflect the Company’s forward momentum toward achieving its business imperatives on all fronts […] In the near term, the success of our DispatchPlus launch in Houston along with the activity in other markets such as Dallas, Philadelphia and Atlanta, has given us confidence that the estimates of capital required for the buildout of our market areas are in line with the results achieved to date. In addition, although it is very early in the market development process from a sales perspective, we are pleased with the initial feedback from dealers, prospects and customers,” commented John Pescatore, the company’s Chief Executive Officer.

Jeffrey Altman, the manager of Owl Creek Asset Management, also has high hopes for Pacific DataVision Inc (NASDAQ:PDVW), having recently increased his holding of the stock by roughly 200,000 shares to amass 1.68 million shares of the company.

Disclosure: None