King Luther Capital Management Corp cut its position in Team, Inc. (NYSE:TISI) by 20.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,215 shares of the business services provider’s stock after selling 45,385 shares during the quarter. King Luther Capital Management Corp owned about 0.60% of Team worth $4,179,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TISI. State of Alaska Department of Revenue raised its stake in shares of Team by 79.9% in the second quarter. State of Alaska Department of Revenue now owns 5,883 shares of the business services provider’s stock valued at $137,000 after buying an additional 2,613 shares during the period. UBS Group AG raised its stake in shares of Team by 21.6% in the first quarter. UBS Group AG now owns 5,642 shares of the business services provider’s stock valued at $152,000 after buying an additional 1,003 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Team by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the business services provider’s stock valued at $163,000 after buying an additional 300 shares during the period. Mason Street Advisors LLC raised its stake in shares of Team by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,897 shares of the business services provider’s stock valued at $187,000 after buying an additional 452 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Team by 57.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,482 shares of the business services provider’s stock valued at $222,000 after buying an additional 3,469 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

In other Team news, Director Louis A. Waters purchased 12,500 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were acquired at an average cost of $11.40 per share, with a total value of $142,500.00. Following the completion of the acquisition, the director now directly owns 160,580 shares in the company, valued at $1,830,612. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Louis A. Waters purchased 17,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were acquired at an average cost of $11.40 per share, for a total transaction of $199,500.00. Following the completion of the acquisition, 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 three months, insiders have acquired 36,000 shares of company stock worth $408,130. Insiders own 4.10% of the company’s stock.

Team, Inc. (NYSE TISI) opened at 13.50 on Friday. Team, Inc. has a 52-week low of $10.45 and a 52-week high of $39.70. The stock’s market capitalization is $402.83 million. The company’s 50-day moving average price is $12.28 and its 200 day moving average price is $22.21.

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 business had revenue of $312.26 million for the quarter, compared to the consensus estimate of $309.60 million. Team had a negative net margin of 2.83% and a negative return on equity of 2.22%. Equities analysts forecast that Team, Inc. will post ($0.52) EPS for the current fiscal year.

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TISI has been the topic of several research reports. ValuEngine lowered Team from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Team from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Stephens lowered Team from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $34.00 to $19.00 in a research note on Tuesday, July 25th. Johnson Rice lowered Team from a “buy” rating to a “hold” rating and lowered their target price for the company from $36.00 to $26.00 in a research note on Tuesday, July 25th. Finally, TheStreet lowered 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 given a hold rating to the stock. Team has a consensus rating of “Hold” and a consensus price target of $22.50.

Team 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.

Institutional Ownership by Quarter for Team (NYSE:TISI)

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