Team, Inc. (TISI) Shares Bought by Northpointe Capital LLC
Northpointe Capital LLC raised its position in Team, Inc. (NYSE:TISI) by 12.2% during the second quarter, Holdings Channel reports. The fund owned 505,766 shares of the business services provider’s stock after buying an additional 54,922 shares during the period. Team makes up 1.2% of Northpointe Capital LLC’s holdings, making the stock its 15th largest position. Northpointe Capital LLC’s holdings in Team were worth $11,860,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Team by 121,178.7% in the first quarter. BlackRock Inc. now owns 3,643,211 shares of the business services provider’s stock valued at $98,549,000 after buying an additional 3,640,207 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in shares of Team by 252.3% in the first quarter. Thrivent Financial For Lutherans now owns 838,936 shares of the business services provider’s stock valued at $22,693,000 after buying an additional 600,810 shares during the last quarter. Chartwell Investment Partners LLC purchased a new stake in shares of Team during the first quarter valued at approximately $8,825,000. Royce & Associates LP raised its stake in shares of Team by 47.3% in the first quarter. Royce & Associates LP now owns 666,651 shares of the business services provider’s stock valued at $18,033,000 after buying an additional 214,081 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Team during the first quarter valued at approximately $5,389,000. 94.00% of the stock is owned by institutional investors and hedge funds.
Team, Inc. (NYSE:TISI) opened at 11.40 on Tuesday. Team, Inc. has a 52-week low of $10.45 and a 52-week high of $39.70. The stock’s market capitalization is $340.16 million. The company’s 50-day moving average price is $19.10 and its 200 day moving average price is $25.62.
Team (NYSE:TISI) last released its earnings results on Monday, August 7th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.54. Team had a negative net margin of 2.83% and a negative return on equity of 2.22%. The firm had revenue of $312.26 million during the quarter, compared to analyst estimates of $309.60 million. On average, equities research analysts predict that Team, Inc. will post ($0.42) earnings per share for the current fiscal year.
Several analysts recently commented on TISI shares. ValuEngine lowered Team from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Stephens lowered Team from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $34.00 to $19.00 in a report on Tuesday, July 25th. Zacks Investment Research lowered Team from a “hold” rating to a “strong sell” rating in a report on Friday, May 19th. Johnson Rice lowered Team from a “buy” rating to a “hold” rating and cut their price objective for the stock from $36.00 to $26.00 in a report on Tuesday, July 25th. Finally, TheStreet lowered Team from a “c-” rating to a “d+” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.50.
In other news, Director Jeffery Gerald Davis bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $10.96 per share, with a total value of $54,800.00. Following the transaction, the director now directly owns 13,869 shares in the company, valued at $152,004.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is owned by corporate insiders.
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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