Legal & General Group Plc cut its position in Team, Inc. (NYSE:TISI) by 0.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,863 shares of the business services provider’s stock after selling 135 shares during the period. Legal & General Group Plc owned 0.17% of Team worth $1,405,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of TISI. Bank of Montreal Can raised its stake in Team by 15.5% in the first quarter. Bank of Montreal Can now owns 16,840 shares of the business services provider’s stock valued at $456,000 after buying an additional 2,265 shares during the period. JPMorgan Chase & Co. raised its stake in Team by 55.8% in the first quarter. JPMorgan Chase & Co. now owns 231,837 shares of the business services provider’s stock valued at $6,271,000 after buying an additional 83,069 shares during the period. Norges Bank purchased a new stake in Team during the fourth quarter valued at about $7,031,000. Bank of New York Mellon Corp raised its stake in shares of Team by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 356,776 shares of the business services provider’s stock worth $9,650,000 after buying an additional 23,630 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Team by 19.7% in the first quarter. Parametric Portfolio Associates LLC now owns 146,031 shares of the business services provider’s stock worth $3,950,000 after buying an additional 24,062 shares during the last quarter. 94.00% of the stock is owned by institutional investors and hedge funds.
Team, Inc. (NYSE:TISI) traded down 4.44% during mid-day trading on Friday, reaching $10.75. 606,551 shares of the company’s stock traded hands. Team, Inc. has a 52 week low of $10.45 and a 52 week high of $39.70. The stock’s 50 day moving average is $17.63 and its 200-day moving average is $25.08. The stock’s market capitalization is $320.77 million.
Team (NYSE:TISI) last released its quarterly earnings results on Monday, August 7th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.54. Team had a negative return on equity of 2.22% and a negative net margin of 2.83%. The business had revenue of $312.26 million during the quarter, compared to the consensus estimate of $309.60 million. On average, equities analysts anticipate that Team, Inc. will post ($0.52) EPS for the current year.
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A number of equities research analysts recently weighed in on TISI shares. TheStreet lowered shares of Team from a “c-” rating to a “d+” rating in a report on Tuesday, July 25th. Stephens lowered shares of Team from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $34.00 to $19.00 in a report on Tuesday, July 25th. Johnson Rice lowered shares of Team from a “buy” rating to a “hold” rating and reduced their price target for the company from $36.00 to $26.00 in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Team from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 10th. Finally, ValuEngine lowered shares of Team from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.50.
In other news, Director Louis A. Waters bought 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was acquired at an average price of $11.40 per share, with a total value of $199,500.00. Following the completion of the purchase, the director now directly owns 160,580 shares of the company’s stock, valued at approximately $1,830,612. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffery Gerald Davis bought 5,000 shares of the firm’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 purchase, the director now directly owns 13,869 shares of the company’s stock, valued at $152,004.24. The disclosure for this purchase can be found here. In the last three months, insiders bought 36,000 shares of company stock valued at $408,130. Company insiders own 4.10% of the company’s stock.
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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