Trexquant Investment LP Purchases New Stake in Team, Inc. (TISI)
Trexquant Investment LP purchased a new stake in shares of Team, Inc. (NYSE:TISI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,666 shares of the business services provider’s stock, valued at approximately $250,000.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Team by 121,178.7% in the first quarter. BlackRock Inc. now owns 3,643,211 shares of the business services provider’s stock valued at $98,549,000 after buying an additional 3,640,207 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of Team by 252.3% in the first quarter. Thrivent Financial For Lutherans now owns 838,936 shares of the business services provider’s stock worth $22,693,000 after buying an additional 600,810 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in shares of Team during the first quarter worth $8,825,000. Royce & Associates LP raised its position in shares of Team by 47.3% in the first quarter. Royce & Associates LP now owns 666,651 shares of the business services provider’s stock worth $18,033,000 after buying an additional 214,081 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Team during the first quarter worth $5,389,000. Institutional investors own 94.00% of the company’s stock.
Team, Inc. (NYSE:TISI) opened at 10.75 on Monday. The company’s market cap is $320.77 million. The firm’s 50-day moving average is $17.63 and its 200-day moving average is $25.08. Team, Inc. has a 12 month low of $10.45 and a 12 month high of $39.70.
Team (NYSE:TISI) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.54. The company had revenue of $312.26 million for the quarter, compared to the consensus estimate of $309.60 million. Team had a negative net margin of 2.83% and a negative return on equity of 2.22%. On average, analysts anticipate that Team, Inc. will post ($0.52) EPS for the current fiscal year.
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A number of equities analysts have weighed in on the stock. Stephens lowered shares of Team from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $34.00 to $19.00 in a research report on Tuesday, July 25th. TheStreet lowered shares of Team from a “c-” rating to a “d+” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Team from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub lowered shares of Team from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, ValuEngine lowered shares of Team from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $22.50.
In related news, Director Louis A. Waters acquired 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $11.40 per share, for a total transaction of $142,500.00. Following the purchase, the director now owns 160,580 shares in the company, valued at approximately $1,830,612. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Louis A. Waters acquired 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $11.40 per share, with a total value of $199,500.00. Following the completion of the purchase, the director now owns 160,580 shares in the company, valued at approximately $1,830,612. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 36,000 shares of company stock valued at $408,130. 4.10% of the stock is currently owned by corporate insiders.
Team Company Profile
Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.
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