Portsea Asset Management LLP Purchases Shares of 695,880 TPI Composites Inc (NASDAQ:TPIC)

Portsea Asset Management LLP purchased a new stake in shares of TPI Composites Inc (NASDAQ:TPIC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 695,880 shares of the industrial products company’s stock, valued at approximately $20,153,000. TPI Composites comprises about 16.4% of Portsea Asset Management LLP’s investment portfolio, making the stock its 3rd biggest position. Portsea Asset Management LLP owned approximately 1.97% of TPI Composites at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. RK Capital Management LLC increased its position in shares of TPI Composites by 228.7% in the second quarter. RK Capital Management LLC now owns 337,600 shares of the industrial products company’s stock worth $7,890,000 after purchasing an additional 234,900 shares during the period. Phocas Financial Corp. bought a new position in shares of TPI Composites in the second quarter worth $4,001,000. Electron Capital Partners LLC increased its position in shares of TPI Composites by 57.0% in the second quarter. Electron Capital Partners LLC now owns 464,753 shares of the industrial products company’s stock worth $10,861,000 after purchasing an additional 168,806 shares during the period. Wasatch Advisors Inc. increased its position in shares of TPI Composites by 20.4% in the second quarter. Wasatch Advisors Inc. now owns 925,260 shares of the industrial products company’s stock worth $21,623,000 after purchasing an additional 156,825 shares during the period. Finally, Driehaus Capital Management LLC increased its position in shares of TPI Composites by 35.7% in the second quarter. Driehaus Capital Management LLC now owns 482,246 shares of the industrial products company’s stock worth $11,270,000 after purchasing an additional 126,919 shares during the period. 75.46% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on TPIC shares. ValuEngine lowered TPI Composites from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Raymond James raised their price objective on TPI Composites from $32.00 to $37.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 8th. BTIG Research reaffirmed a “buy” rating and issued a $42.00 price objective (up from $30.00) on shares of TPI Composites in a research note on Monday, October 12th. Morgan Stanley raised their price objective on TPI Composites from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Finally, Zacks Investment Research raised TPI Composites from a “sell” rating to a “hold” rating in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $32.82.

Shares of TPI Composites stock traded down $0.38 during midday trading on Wednesday, reaching $32.82. The company had a trading volume of 18,173 shares, compared to its average volume of 532,899. The stock has a fifty day moving average price of $30.36 and a 200 day moving average price of $25.06. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.33 and a quick ratio of 1.30. The firm has a market cap of $1.17 billion, a PE ratio of -16.35 and a beta of 1.66. TPI Composites Inc has a fifty-two week low of $9.19 and a fifty-two week high of $36.59.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.13). The company had revenue of $373.80 million during the quarter, compared to analyst estimates of $303.60 million. TPI Composites had a negative return on equity of 7.79% and a negative net margin of 4.69%. TPI Composites’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts forecast that TPI Composites Inc will post 0.69 EPS for the current year.

In other TPI Composites news, Director Daniel G. Weiss sold 68,392 shares of TPI Composites stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $27.69, for a total value of $1,893,774.48. Also, insider Thomas J. Castle sold 2,572 shares of TPI Composites stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $30.05, for a total value of $77,288.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 166,113 shares of company stock worth $5,005,529. 18.30% of the stock is owned by insiders.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, Africa, and India.

Recommended Story: How is an ETF different from a mutual fund?

Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit