K2 Principal Fund L.P. Acquires Shares of 50,000 TSS Inc. $TSSI

K2 Principal Fund L.P. acquired a new stake in shares of TSS Inc. (NASDAQ:TSSI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors have also added to or reduced their stakes in TSSI. Raymond James Financial Inc. acquired a new position in TSS during the second quarter valued at approximately $8,862,000. Vanguard Group Inc. raised its position in TSS by 31.2% during the third quarter. Vanguard Group Inc. now owns 1,240,958 shares of the company’s stock valued at $22,474,000 after purchasing an additional 294,971 shares in the last quarter. UBS Group AG raised its position in TSS by 188.1% during the fourth quarter. UBS Group AG now owns 316,456 shares of the company’s stock valued at $2,237,000 after purchasing an additional 206,600 shares in the last quarter. NewEdge Advisors LLC raised its position in TSS by 536.7% during the first quarter. NewEdge Advisors LLC now owns 141,686 shares of the company’s stock valued at $1,112,000 after purchasing an additional 119,432 shares in the last quarter. Finally, Man Group plc acquired a new position in TSS during the third quarter valued at approximately $2,141,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TSSI shares. Weiss Ratings upgraded shares of TSS from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of TSS in a report on Friday, May 8th. Zacks Research upgraded TSS to a “hold” rating in a report on Tuesday, February 17th. Finally, Wall Street Zen downgraded TSS from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.17.

TSS Stock Performance

Shares of TSS stock opened at $12.78 on Friday. The company has a market cap of $358.73 million, a P/E ratio of 26.08 and a beta of 1.99. The business has a 50-day moving average price of $13.60 and a two-hundred day moving average price of $10.92. The company has a current ratio of 2.18, a quick ratio of 1.99 and a debt-to-equity ratio of 0.16. TSS Inc. has a 1-year low of $6.87 and a 1-year high of $31.94.

TSS (NASDAQ:TSSI) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $55.35 million for the quarter. TSS had a net margin of 7.14% and a return on equity of 25.27%. As a group, analysts anticipate that TSS Inc. will post 0.32 EPS for the current year.

Insider Activity at TSS

In other news, CFO Daniel M. Chism sold 25,000 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $15.00, for a total transaction of $375,000.00. Following the transaction, the chief financial officer owned 338,215 shares of the company’s stock, valued at $5,073,225. This represents a 6.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kieran Brennan sold 12,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $12.27, for a total transaction of $147,240.00. Following the transaction, the senior vice president directly owned 279,137 shares in the company, valued at $3,425,010.99. This trade represents a 4.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 486,649 shares of company stock worth $7,592,031. 15.97% of the stock is currently owned by insiders.

About TSS

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments. TSS Inc, formerly known as Fortress International Group, Inc, is based in Columbia, United States.