Redwood Investments LLC Has $5.87 Million Stake in Tile Shop Hldgs, Inc. (TTS)
Redwood Investments LLC boosted its position in Tile Shop Hldgs, Inc. (NASDAQ:TTS) by 10.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 284,236 shares of the company’s stock after buying an additional 27,884 shares during the period. Redwood Investments LLC owned 0.55% of Tile Shop Hldgs worth $5,869,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in TTS. 1st Global Advisors Inc. increased its position in shares of Tile Shop Hldgs by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 21,554 shares of the company’s stock worth $415,000 after buying an additional 315 shares in the last quarter. Oxford Asset Management purchased a new position in shares of Tile Shop Hldgs during the first quarter worth $443,000. State of Tennessee Treasury Department increased its position in shares of Tile Shop Hldgs by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 32,230 shares of the company’s stock worth $620,000 after buying an additional 4,864 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Tile Shop Hldgs by 4.6% in the first quarter. Ameriprise Financial Inc. now owns 171,686 shares of the company’s stock worth $3,306,000 after buying an additional 7,516 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Tile Shop Hldgs by 4.0% in the first quarter. Swiss National Bank now owns 55,200 shares of the company’s stock worth $1,063,000 after buying an additional 2,100 shares in the last quarter. 68.65% of the stock is owned by institutional investors and hedge funds.
Tile Shop Hldgs, Inc. (NASDAQ TTS) opened at 14.65 on Tuesday. Tile Shop Hldgs, Inc. has a one year low of $13.30 and a one year high of $22.40. The stock’s 50 day moving average is $16.21 and its 200-day moving average is $18.74. The firm has a market capitalization of $760.67 million, a PE ratio of 36.62 and a beta of 1.87.
Tile Shop Hldgs (NASDAQ:TTS) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $89.50 million for the quarter, compared to analysts’ expectations of $93.20 million. Tile Shop Hldgs had a net margin of 6.11% and a return on equity of 17.45%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. On average, analysts anticipate that Tile Shop Hldgs, Inc. will post $0.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Friday, July 28th. Tile Shop Hldgs’s payout ratio is presently 50.00%.
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A number of equities research analysts have commented on the stock. BidaskClub cut shares of Tile Shop Hldgs from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Citigroup Inc. reduced their price target on shares of Tile Shop Hldgs from $22.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, July 19th. Zacks Investment Research cut shares of Tile Shop Hldgs from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Piper Jaffray Companies set a $19.00 price target on shares of Tile Shop Hldgs and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price target (down from $21.00) on shares of Tile Shop Hldgs in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.17.
In related news, CEO Chris Homeister purchased 9,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $13.98 per share, with a total value of $125,820.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert A. Rucker sold 14,801 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $20.69, for a total transaction of $306,232.69. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 259,454 shares of company stock worth $3,710,115 and have sold 859,796 shares worth $17,242,372. Company insiders own 24.30% of the company’s stock.
About Tile Shop Hldgs
Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.
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