Empyrean Capital Partners LP Takes $6.18 Million Position in Tintri, Inc. (TNTR)
Empyrean Capital Partners LP purchased a new position in shares of Tintri, Inc. (NASDAQ:TNTR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 850,000 shares of the company’s stock, valued at approximately $6,180,000. Empyrean Capital Partners LP owned approximately 2.75% of Tintri at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Legal & General Group Plc purchased a new position in Tintri during the second quarter worth approximately $146,000. Goldman Sachs Group Inc. purchased a new position in Tintri during the second quarter worth approximately $619,000. UBS Oconnor LLC purchased a new position in Tintri during the second quarter worth approximately $1,454,000. Federated Investors Inc. PA purchased a new position in Tintri during the second quarter worth approximately $2,181,000. Finally, Laurion Capital Management LP purchased a new position in Tintri during the second quarter worth approximately $2,181,000. Institutional investors own 50.56% of the company’s stock.
Shares of Tintri, Inc. (TNTR) traded down 5.25% during trading on Friday, reaching $3.07. The company’s stock had a trading volume of 313,714 shares. The company has a 50 day moving average price of $4.27 and a 200 day moving average price of $5.02. Tintri, Inc. has a 52 week low of $2.85 and a 52 week high of $9.80. The firm’s market capitalization is $96.16 million.
Tintri (NASDAQ:TNTR) last announced its quarterly earnings results on Thursday, September 7th. The company reported ($2.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.97) by ($0.08). The firm had revenue of $34.87 million during the quarter, compared to analyst estimates of $35.68 million. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. On average, equities research analysts expect that Tintri, Inc. will post ($3.48) EPS for the current fiscal year.
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TNTR has been the topic of a number of recent analyst reports. Raymond James Financial, Inc. initiated coverage on Tintri in a research report on Tuesday, July 25th. They set an “outperform” rating and a $9.00 price target on the stock. William Blair initiated coverage on Tintri in a research report on Tuesday, July 25th. They set an “outperform” rating on the stock. Morgan Stanley downgraded Tintri from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $10.00 to $6.00 in a research report on Wednesday, August 23rd. KeyCorp initiated coverage on Tintri in a research report on Tuesday, July 25th. They set an “overweight” rating and a $9.00 price target on the stock. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $8.50 price target on shares of Tintri in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.67.
Tintri Company Profile
Tintri, Inc is a United States-based company. The Company is engaged in the business of storage management solutions. The Company offers a range of products, including Tintri all-flash array, Tintri hybrid-flash array, Tintri Global Center (TGC), Tintri Analytics, Tintri Storage Software. The Company’s solutions include cloud, desktops, database system and servers, Data protection and disaster recovery and DevOps.
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