Rutabaga Capital Management LLC MA reduced its holdings in shares of Team, Inc. (NYSE:TISI) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 179,772 shares of the business services provider’s stock after selling 19,100 shares during the quarter. Rutabaga Capital Management LLC MA owned approximately 0.60% of Team worth $4,216,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in TISI. Great West Life Assurance Co. Can lifted its holdings in shares of Team by 3.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 40,048 shares of the business services provider’s stock valued at $1,083,000 after purchasing an additional 1,264 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Team by 7.1% in the 1st quarter. Bank of New York Mellon Corp now owns 356,776 shares of the business services provider’s stock valued at $9,650,000 after purchasing an additional 23,630 shares during the last quarter. Comerica Bank lifted its holdings in shares of Team by 4.0% in the 1st quarter. Comerica Bank now owns 32,741 shares of the business services provider’s stock valued at $940,000 after purchasing an additional 1,246 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Team by 3.4% in the 1st quarter. Swiss National Bank now owns 45,855 shares of the business services provider’s stock valued at $1,240,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Team by 260.6% in the 1st quarter. Sei Investments Co. now owns 25,393 shares of the business services provider’s stock valued at $686,000 after purchasing an additional 18,352 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

In related news, Director Jeffery Gerald Davis bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $10.96 per share, for a total transaction of $54,800.00. Following the completion of the purchase, the director now directly owns 13,869 shares in the company, valued at approximately $152,004.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Louis A. Waters bought 12,500 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $11.40 per share, with a total value of $142,500.00. Following the completion of the purchase, the director now owns 160,580 shares of the company’s stock, valued at $1,830,612. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 36,000 shares of company stock valued at $408,130. 4.10% of the stock is currently owned by insiders.

Team, Inc. (NYSE:TISI) traded up 2.81% during mid-day trading on Friday, hitting $12.80. The stock had a trading volume of 525,915 shares. Team, Inc. has a 12-month low of $10.45 and a 12-month high of $39.70. The company has a 50-day moving average of $12.92 and a 200-day moving average of $20.23. The firm’s market cap is $381.94 million.

Team (NYSE:TISI) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.54). The firm had revenue of $312.26 million during the quarter, compared to analyst estimates of $309.60 million. Team had a negative return on equity of 2.22% and a negative net margin of 2.83%. Analysts expect that Team, Inc. will post ($0.52) earnings per share for the current year.

Several research firms have recently weighed in on TISI. Zacks Investment Research raised Team from a “strong sell” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded Team from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. TheStreet downgraded Team from a “c-” rating to a “d+” rating in a report on Tuesday, July 25th. Johnson Rice downgraded Team from a “buy” rating to a “hold” rating and reduced their target price for the company from $36.00 to $26.00 in a report on Tuesday, July 25th. Finally, Stephens downgraded Team from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $34.00 to $19.00 in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Team currently has an average rating of “Hold” and an average target price of $22.50.

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About Team

Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.

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Institutional Ownership by Quarter for Team (NYSE:TISI)

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