Verition Fund Management LLC Increases Stake in Tecnoglass Inc. (NASDAQ:TGLS)

Verition Fund Management LLC raised its position in shares of Tecnoglass Inc. (NASDAQ:TGLS) by 262.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,894 shares of the company’s stock after buying an additional 35,406 shares during the period. Verition Fund Management LLC owned about 0.10% of Tecnoglass worth $3,357,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank bought a new stake in shares of Tecnoglass in the second quarter worth approximately $39,000. Signaturefd LLC raised its stake in Tecnoglass by 4,735.7% during the third quarter. Signaturefd LLC now owns 677 shares of the company’s stock valued at $46,000 after purchasing an additional 663 shares in the last quarter. X Square Capital LLC raised its stake in Tecnoglass by 5.7% during the second quarter. X Square Capital LLC now owns 4,363 shares of the company’s stock valued at $219,000 after purchasing an additional 237 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Tecnoglass in the second quarter valued at $220,000. Finally, Tidal Investments LLC purchased a new stake in shares of Tecnoglass in the first quarter valued at $245,000. Hedge funds and other institutional investors own 37.35% of the company’s stock.

Insider Buying and Selling at Tecnoglass

In other news, Director Julio A. Torres sold 30,520 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $72.83, for a total transaction of $2,222,771.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $73.02, for a total value of $104,573,402.40. Following the transaction, the insider now owns 23,195,988 shares in the company, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TGLS shares. Raymond James cut shares of Tecnoglass from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Sidoti lowered shares of Tecnoglass from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Tuesday, October 22nd. Robert W. Baird lifted their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, B. Riley reaffirmed a “neutral” rating and set a $72.00 target price (up from $69.00) on shares of Tecnoglass in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Tecnoglass has an average rating of “Hold” and a consensus target price of $77.40.

Tecnoglass Stock Down 0.1 %

TGLS opened at $81.73 on Thursday. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.84 billion, a P/E ratio of 25.54 and a beta of 1.89. Tecnoglass Inc. has a 52 week low of $36.68 and a 52 week high of $82.68. The business’s fifty day simple moving average is $73.64 and its 200 day simple moving average is $61.30.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.97 by $0.11. Tecnoglass had a return on equity of 27.71% and a net margin of 17.82%. The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same period last year, the business posted $0.98 EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

About Tecnoglass

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.