Tecnoglass (NYSE:TGLS) Major Shareholder Holding Corp Energy Purchases 107,600 Shares

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy acquired 107,600 shares of the stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average price of $43.41 per share, for a total transaction of $4,670,916.00. Following the completion of the transaction, the insider directly owned 20,424,690 shares of the company’s stock, valued at approximately $886,635,792.90. This represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Wednesday, March 11th, Holding Corp Energy bought 92,066 shares of Tecnoglass stock. The shares were acquired at an average price of $44.24 per share, with a total value of $4,072,999.84.
• On Monday, March 9th, Holding Corp Energy purchased 107,000 shares of Tecnoglass stock. The stock was acquired at an average cost of $41.06 per share, for a total transaction of $4,393,420.00.

Tecnoglass Price Performance

TGLS stock traded up $2.11 during midday trading on Wednesday, hitting $44.73. The company’s stock had a trading volume of 458,060 shares, compared to its average volume of 390,742. The company has a quick ratio of 1.25, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. Tecnoglass Inc. has a 12 month low of $40.09 and a 12 month high of $90.34. The company has a 50 day moving average of $50.09 and a two-hundred day moving average of $56.02. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.72.

Tecnoglass (NYSE:TGLS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.21). Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. The company had revenue of $245.30 million for the quarter. During the same quarter in the prior year, the firm posted $1.05 EPS. Tecnoglass’s revenue was up 3.0% on a year-over-year basis.

Hedge Funds Weigh In On Tecnoglass

Several large investors have recently modified their holdings of TGLS. First Horizon Corp bought a new stake in shares of Tecnoglass during the third quarter worth $28,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Tecnoglass during the fourth quarter valued at $28,000. Arax Advisory Partners grew its holdings in shares of Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after purchasing an additional 335 shares during the last quarter. Federated Hermes Inc. increased its stake in Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock worth $40,000 after buying an additional 444 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in Tecnoglass by 223.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock worth $43,000 after buying an additional 440 shares during the period. Institutional investors own 37.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TGLS shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tecnoglass in a research note on Monday, December 22nd. DA Davidson reduced their price target on shares of Tecnoglass from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Zacks Research lowered shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, B. Riley Financial reduced their target price on shares of Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.50.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.