First Trust Advisors LP Purchases 5,951 Shares of Team, Inc. (TISI)
First Trust Advisors LP lifted its position in shares of Team, Inc. (NYSE:TISI) by 53.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,183 shares of the business services provider’s stock after acquiring an additional 5,951 shares during the period. First Trust Advisors LP owned 0.06% of Team worth $229,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in TISI. Municipal Employees Retirement System of Michigan grew its position in Team by 4.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the business services provider’s stock valued at $163,000 after buying an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Team by 57.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,482 shares of the business services provider’s stock valued at $222,000 after buying an additional 3,469 shares in the last quarter. 1st Global Advisors Inc. bought a new position in Team in the 2nd quarter valued at about $236,000. Trexquant Investment LP bought a new position in Team in the 2nd quarter valued at about $250,000. Finally, Fox Run Management L.L.C. bought a new position in Team in the 3rd quarter valued at about $154,000. Institutional investors and hedge funds own 96.90% of the company’s stock.
In other Team news, insider Greg L. Boane purchased 2,890 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was bought at an average cost of $13.78 per share, with a total value of $39,824.20. Following the acquisition, the insider now owns 8,447 shares of the company’s stock, valued at $116,399.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.
A number of equities analysts recently issued reports on TISI shares. Johnson Rice upgraded shares of Team from a “hold” rating to an “accumulate” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Team from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, BidaskClub upgraded shares of Team from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $22.50.
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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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