Sterling Capital Management LLC cut its stake in shares of Team, Inc. (NYSE:TISI) by 8.2% during the second quarter, HoldingsChannel reports. The firm owned 195,467 shares of the business services provider’s stock after selling 17,404 shares during the period. Sterling Capital Management LLC’s holdings in Team were worth $4,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rhumbline Advisers grew its position in Team by 3.9% in the second quarter. Rhumbline Advisers now owns 72,134 shares of the business services provider’s stock worth $1,666,000 after acquiring an additional 2,687 shares in the last quarter. Bank of New York Mellon Corp grew its position in Team by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 336,526 shares of the business services provider’s stock worth $7,773,000 after acquiring an additional 2,905 shares in the last quarter. Swiss National Bank grew its position in Team by 6.1% in the first quarter. Swiss National Bank now owns 52,055 shares of the business services provider’s stock worth $716,000 after acquiring an additional 3,000 shares in the last quarter. Legal & General Group Plc grew its position in Team by 6.2% in the second quarter. Legal & General Group Plc now owns 59,228 shares of the business services provider’s stock worth $1,350,000 after acquiring an additional 3,436 shares in the last quarter. Finally, Barclays PLC grew its position in Team by 98.9% in the first quarter. Barclays PLC now owns 9,235 shares of the business services provider’s stock worth $127,000 after acquiring an additional 4,592 shares in the last quarter.

TISI stock opened at $20.95 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.86 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $634.96 million, a price-to-earnings ratio of -49.88 and a beta of 1.75. Team, Inc. has a 12 month low of $11.45 and a 12 month high of $25.55.

Team (NYSE:TISI) last posted its earnings results on Tuesday, August 7th. The business services provider reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.14). The business had revenue of $343.89 million during the quarter, compared to the consensus estimate of $337.70 million. Team had a negative return on equity of 4.72% and a negative net margin of 10.73%. equities research analysts predict that Team, Inc. will post -1.06 EPS for the current fiscal year.

Several analysts have commented on TISI shares. Zacks Investment Research raised shares of Team from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 6th. KeyCorp boosted their target price on shares of Team from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, June 29th. Finally, ValuEngine raised shares of Team from a “hold” rating to a “buy” rating in a research report on Thursday, July 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $26.00.

About Team

Team, Inc provides specialty industrial services in the United States, Canada, Europe, and internationally. The company operates through three segments: TeamQualspec Group (TeamQualspec), TeamFurmanite Group (TeamFurmanite), and Quest Integrity. The TeamQualspec segment offers non-destructive evaluation and testing, radiographic testing, ultrasonic testing, magnetic particle inspection, liquid penetrant inspection, positive material identification, electromagnetic testing, eddy current testing, and alternating current field measurement services.

Further Reading: Index Funds

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Institutional Ownership by Quarter for Team (NYSE:TISI)

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