Quantbot Technologies LP Makes New $774,000 Investment in Transcat, Inc. $TRNS

Quantbot Technologies LP bought a new stake in Transcat, Inc. (NASDAQ:TRNS) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 8,348 shares of the scientific and technical instruments company’s stock, valued at approximately $774,000.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Transcat by 6.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock valued at $407,000 after buying an additional 325 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Transcat in the 1st quarter valued at $1,674,000. JPMorgan Chase & Co. boosted its stake in shares of Transcat by 88.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,555 shares of the scientific and technical instruments company’s stock valued at $735,000 after purchasing an additional 4,012 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Transcat by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 9,551 shares of the scientific and technical instruments company’s stock worth $821,000 after purchasing an additional 548 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Transcat by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 16,171 shares of the scientific and technical instruments company’s stock worth $1,390,000 after purchasing an additional 3,061 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a research note on Wednesday, August 5th. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $95.00.

Transcat Stock Performance

Shares of NASDAQ:TRNS opened at $89.66 on Thursday. The business has a fifty day moving average of $90.10 and a 200-day moving average of $82.39. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.11 and a current ratio of 2.49. Transcat, Inc. has a twelve month low of $50.23 and a twelve month high of $100.00. The firm has a market cap of $839.22 million, a PE ratio of 242.32 and a beta of 0.68.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The business had revenue of $92.95 million for the quarter, compared to the consensus estimate of $86.55 million. On average, equities research analysts predict that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

Insider Transactions at Transcat

In related news, Director Craig D. Cairns bought 1,050 shares of Transcat stock in a transaction dated Thursday, August 6th. The shares were bought at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the transaction, the director owned 1,480 shares of the company’s stock, valued at approximately $139,075.60. This trade represents a 244.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher P. Gillette sold 504 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the transaction, the director owned 200 shares in the company, valued at $18,846. The trade was a 71.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.80% of the company’s stock.

Transcat Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.