EdgePoint Investment Group Inc. Holds Holdings in Team, Inc. (TISI)
EdgePoint Investment Group Inc. continued to hold its stake in Team, Inc. (NYSE:TISI) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,534,521 shares of the business services provider’s stock at the end of the second quarter. Team comprises about 0.9% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 23rd largest holding. EdgePoint Investment Group Inc. owned approximately 8.50% of Team worth $59,435,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial For Lutherans raised its stake in Team by 18.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 990,226 shares of the business services provider’s stock valued at $23,221,000 after buying an additional 151,290 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Team by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 158,391 shares of the business services provider’s stock worth $3,714,000 after purchasing an additional 4,377 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Team by 4.0% in the 2nd quarter. Teachers Advisors LLC now owns 57,761 shares of the business services provider’s stock worth $1,354,000 after purchasing an additional 2,214 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Team by 5.1% in the 2nd quarter. Alliancebernstein L.P. now owns 36,800 shares of the business services provider’s stock worth $863,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Team by 24.4% in the 2nd quarter. Wells Fargo & Company MN now owns 26,998 shares of the business services provider’s stock worth $633,000 after purchasing an additional 5,288 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.
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Team, Inc. (TISI) remained flat at $13.50 on Friday. 751,912 shares of the company’s stock were exchanged. The stock’s market capitalization is $402.83 million. Team, Inc. has a 12 month low of $10.45 and a 12 month high of $39.70. The stock has a 50-day moving average of $12.28 and a 200-day moving average of $22.21.
Team (NYSE:TISI) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $312.26 million during the quarter, compared to analysts’ expectations of $309.60 million. On average, analysts forecast that Team, Inc. will post ($0.52) earnings per share for the current year.
Several research analysts recently weighed in on the stock. ValuEngine downgraded shares of Team from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Team from a “hold” rating to a “strong sell” rating in a research report on Friday, May 19th. Johnson Rice lowered shares of Team from a “buy” rating to a “hold” rating and reduced their target price for the stock from $36.00 to $26.00 in a research report on Tuesday, July 25th. Stephens downgraded shares of Team from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $34.00 to $19.00 in a research note on Tuesday, July 25th. Finally, TheStreet downgraded shares of Team from a “c-” rating to a “d+” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.50.
In other Team news, Director Louis A. Waters purchased 17,500 shares of Team stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $11.40 per share, with a total value of $199,500.00. Following the completion of the transaction, the director now directly owns 160,580 shares in the company, valued at approximately $1,830,612. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffery Gerald Davis purchased 5,000 shares of Team stock in a transaction on Thursday, August 10th. The shares were acquired at an average cost of $10.96 per share, for a total transaction of $54,800.00. Following the completion of the transaction, the director now owns 13,869 shares of the company’s stock, valued at $152,004.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 36,000 shares of company stock worth $408,130 over the last ninety days. 4.10% of the stock is owned by corporate insiders.
Team Company Profile
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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