Kornitzer Capital Management Inc. KS Buys 30,000 Shares of Tile Shop Hldgs, Inc. (TTS)
Kornitzer Capital Management Inc. KS increased its stake in shares of Tile Shop Hldgs, Inc. (NASDAQ:TTS) by 71.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,700 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.14% of Tile Shop Hldgs worth $911,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of TTS. Bank of Montreal Can lifted its holdings in shares of Tile Shop Hldgs by 7.7% during the second quarter. Bank of Montreal Can now owns 5,814 shares of the company’s stock worth $120,000 after purchasing an additional 416 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Tile Shop Hldgs by 79.3% during the second quarter. State of Alaska Department of Revenue now owns 6,525 shares of the company’s stock worth $134,000 after purchasing an additional 2,885 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Tile Shop Hldgs during the third quarter worth $144,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Tile Shop Hldgs by 3.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,780 shares of the company’s stock worth $161,000 after purchasing an additional 260 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Tile Shop Hldgs by 1.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,692 shares of the company’s stock valued at $186,000 after acquiring an additional 134 shares during the period. 67.59% of the stock is owned by hedge funds and other institutional investors.
Tile Shop Hldgs, Inc. (NASDAQ:TTS) opened at $8.50 on Friday. Tile Shop Hldgs, Inc. has a 52-week low of $8.20 and a 52-week high of $22.40. The firm has a market capitalization of $443.34, a price-to-earnings ratio of 19.77, a PEG ratio of 0.83 and a beta of 1.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.55 and a quick ratio of 0.39.
Tile Shop Hldgs (NASDAQ:TTS) last announced its quarterly earnings results on Tuesday, October 17th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Tile Shop Hldgs had a return on equity of 15.40% and a net margin of 5.38%. The business had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $84.05 million. During the same quarter last year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. sell-side analysts forecast that Tile Shop Hldgs, Inc. will post 0.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, October 30th. Tile Shop Hldgs’s dividend payout ratio is currently 55.56%.
A number of equities research analysts have commented on the company. BidaskClub raised Tile Shop Hldgs from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research raised Tile Shop Hldgs from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Piper Jaffray Companies reissued a “neutral” rating and issued a $8.50 target price (down previously from $14.00) on shares of Tile Shop Hldgs in a report on Tuesday, October 3rd. Citigroup Inc. reduced their target price on Tile Shop Hldgs from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, October 18th. Finally, Loop Capital reissued a “hold” rating on shares of Tile Shop Hldgs in a report on Friday, October 27th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.92.
In related news, Director Christopher Thomas Cook acquired 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average price of $8.42 per share, for a total transaction of $186,924.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter J. Jacullo III acquired 48,767 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were bought at an average price of $8.53 per share, with a total value of $415,982.51. Following the transaction, the director now owns 490,075 shares in the company, valued at approximately $4,180,339.75. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 80,967 shares of company stock valued at $692,907. Company insiders own 24.30% of the company’s stock.
Tile Shop Hldgs Company Profile
Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.
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