Crexendo, Inc. (NASDAQ:CXDO) CEO Steven G. Mihaylo Acquires 10,000 Shares

Crexendo, Inc. (NASDAQ:CXDOGet Rating) CEO Steven G. Mihaylo acquired 10,000 shares of the stock in a transaction dated Friday, June 17th. The stock was bought at an average price of $2.90 per share, with a total value of $29,000.00. Following the purchase, the chief executive officer now directly owns 11,174,588 shares in the company, valued at $32,406,305.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Crexendo stock traded down $0.22 during midday trading on Tuesday, reaching $3.01. The stock had a trading volume of 100 shares, compared to its average volume of 51,395. Crexendo, Inc. has a 12 month low of $2.10 and a 12 month high of $7.20. The firm’s 50-day moving average price is $2.86 and its 200 day moving average price is $3.76.

Crexendo (NASDAQ:CXDOGet Rating) last announced its quarterly earnings data on Monday, March 21st. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Crexendo had a negative net margin of 9.29% and a negative return on equity of 0.86%. The firm had revenue of $9.00 million during the quarter, compared to the consensus estimate of $8.84 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Equities research analysts forecast that Crexendo, Inc. will post 0.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Monday, May 30th were given a dividend of $0.005 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Thursday, May 26th. Crexendo’s dividend payout ratio is presently -14.28%.

Several institutional investors and hedge funds have recently made changes to their positions in CXDO. Essex Investment Management Co. LLC increased its position in shares of Crexendo by 62.7% during the fourth quarter. Essex Investment Management Co. LLC now owns 165,780 shares of the company’s stock valued at $829,000 after buying an additional 63,860 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Crexendo during the fourth quarter valued at about $248,000. Janney Montgomery Scott LLC bought a new stake in shares of Crexendo during the first quarter valued at about $88,000. Royal Bank of Canada bought a new stake in shares of Crexendo during the second quarter valued at about $105,000. Finally, Vanguard Group Inc. grew its holdings in shares of Crexendo by 3.5% during the first quarter. Vanguard Group Inc. now owns 380,579 shares of the company’s stock worth $1,382,000 after purchasing an additional 12,895 shares in the last quarter. Hedge funds and other institutional investors own 5.79% of the company’s stock.

Several analysts recently issued reports on CXDO shares. Lake Street Capital reduced their price target on shares of Crexendo from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, March 22nd. B. Riley cut their price objective on shares of Crexendo from $6.50 to $4.00 in a report on Friday, May 13th.

Crexendo Company Profile (Get Rating)

Crexendo, Inc provides cloud communication, unified communications as a service, call center, collaboration, and other cloud business services for businesses in the United States, Canada, and internationally. It operates through two segments, Cloud Telecommunications and Web Services. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and resells broadband Internet services.

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