Tecnoglass Inc. $TGLS Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC cut its position in shares of Tecnoglass Inc. (NYSE:TGLS) by 27.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,265 shares of the company’s stock after selling 40,551 shares during the quarter. Portolan Capital Management LLC owned about 0.23% of Tecnoglass worth $7,311,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its stake in shares of Tecnoglass by 5.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company’s stock valued at $192,000 after purchasing an additional 135 shares during the period. Royal Bank of Canada boosted its stake in shares of Tecnoglass by 8.3% in the first quarter. Royal Bank of Canada now owns 3,121 shares of the company’s stock valued at $224,000 after purchasing an additional 238 shares during the period. SkyOak Wealth LLC grew its holdings in Tecnoglass by 8.8% during the 3rd quarter. SkyOak Wealth LLC now owns 3,709 shares of the company’s stock valued at $248,000 after purchasing an additional 299 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Tecnoglass by 4.2% during the 2nd quarter. Osaic Holdings Inc. now owns 8,349 shares of the company’s stock valued at $647,000 after purchasing an additional 337 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in Tecnoglass during the 3rd quarter worth $28,000. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Tecnoglass Stock Up 2.0%

Shares of NYSE:TGLS opened at $45.68 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $49.74 and a 200 day simple moving average of $55.68. The firm has a market cap of $2.04 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.72. Tecnoglass Inc. has a 12-month low of $40.09 and a 12-month high of $90.34.

Tecnoglass (NYSE:TGLS) last posted its quarterly earnings results 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). The company had revenue of $245.30 million during the quarter. Tecnoglass had a net margin of 16.22% and a return on equity of 23.05%. Tecnoglass’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share.

Insider Transactions at Tecnoglass

In related news, Director Anne Louise Carricarte purchased 1,100 shares of Tecnoglass stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $43.27 per share, with a total value of $47,597.00. Following the completion of the transaction, the director owned 1,100 shares of the company’s stock, valued at approximately $47,597. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holding Corp Energy purchased 92,066 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $44.24 per share, with a total value of $4,072,999.84. Following the completion of the purchase, the insider directly owned 20,516,756 shares of the company’s stock, valued at approximately $907,661,285.44. This represents a 0.45% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 307,766 shares of company stock worth $13,184,933. Company insiders own 0.06% of the company’s stock.

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.