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Banking & Finance

PTC Inc. $PTC Shares Purchased by Meyer Handelman Co.

·15 Aug
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Meyer Handelman Co. significantly increased its stake in PTC Inc. (NASDAQ:PTC) during the second quarter, purchasing an additional 44,340 shares to bring its total holdings to 92,884 shares valued at $10.55 million. This purchase reflects continued institutional interest, as institutional investors and hedge funds collectively own 95.14% of the company's stock. Despite mixed analyst ratings and a consensus "Hold" rating with a target price of $170.14, PTC's latest quarterly earnings slightly beat expectations, although revenue saw a 6.8% year-over-year decrease.

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