Holding Corp Energy Buys 107,600 Shares of Tecnoglass (NYSE:TGLS) Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy purchased 107,600 shares of the stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $43.41 per share, for a total transaction of $4,670,916.00. Following the completion of the acquisition, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

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

Tecnoglass Stock Performance

TGLS traded up $2.11 during midday trading on Wednesday, hitting $44.73. 458,060 shares of the company traded hands, 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. The firm has a market capitalization of $2.00 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.72. The company’s 50-day moving average is $50.09 and its 200 day moving average is $56.02. Tecnoglass Inc. has a 52 week low of $40.09 and a 52 week high of $90.34.

Tecnoglass (NYSE:TGLS) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The company had revenue of $245.30 million during the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS.

Analyst Upgrades and Downgrades

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

Institutional Trading of Tecnoglass

Several hedge funds have recently bought and sold shares of the stock. First Horizon Corp purchased a new stake in Tecnoglass in the 3rd quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Tecnoglass in the fourth quarter worth approximately $28,000. Arax Advisory Partners increased its stake 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 in the last quarter. Federated Hermes Inc. raised its position in shares of Tecnoglass by 290.2% during the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after purchasing an additional 444 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Tecnoglass by 223.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after buying an additional 440 shares in the last quarter. Institutional investors own 37.35% 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.