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

Quantbot Technologies LP bought a new stake in shares of Transcat, Inc. (NASDAQ:TRNS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,348 shares of the scientific and technical instruments company’s stock, valued at approximately $774,000. Quantbot Technologies LP owned 0.09% of Transcat as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TRNS. BlackRock Inc. purchased a new position in Transcat during the 2nd quarter valued at about $67,445,000. Wellington Management Group LLP increased its holdings in shares of Transcat by 677.7% in the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock valued at $14,100,000 after purchasing an additional 216,579 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Transcat in the 4th quarter valued at about $7,259,000. King Luther Capital Management Corp lifted its position in shares of Transcat by 182.3% in the fourth quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock worth $5,886,000 after purchasing an additional 67,000 shares in the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Transcat in the second quarter worth approximately $5,225,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christopher P. Gillette sold 504 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were 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 approximately $18,846. This trade represents a 71.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig D. Cairns acquired 1,050 shares of Transcat stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $93.97 per share, with a total value of $98,668.50. Following the purchase, the director owned 1,480 shares in the company, valued at $139,075.60. The trade was a 244.19% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Transcat Trading Up 1.7%

NASDAQ:TRNS opened at $89.66 on Thursday. The stock’s 50 day moving average price is $90.10 and its 200 day moving average price is $82.39. Transcat, Inc. has a 52 week low of $50.23 and a 52 week high of $100.00. The company has a market capitalization of $839.22 million, a P/E ratio of 242.32 and a beta of 0.68. 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 (NASDAQ:TRNS) last issued its quarterly earnings data on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.13. The firm had revenue of $92.95 million for the quarter, compared to analyst estimates of $86.55 million. Transcat had a net margin of 0.99% and a return on equity of 5.56%. On average, research analysts forecast that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

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.