ExodusPoint Capital Management LP Takes Position in Transcat, Inc. (NASDAQ:TRNS)

ExodusPoint Capital Management LP purchased a new position in shares of Transcat, Inc. (NASDAQ:TRNS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,307 shares of the scientific and technical instruments company’s stock, valued at approximately $773,000. ExodusPoint Capital Management LP owned 0.08% of Transcat at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Transcat by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 219,354 shares of the scientific and technical instruments company’s stock valued at $23,200,000 after purchasing an additional 1,881 shares during the last quarter. JPMorgan Chase & Co. grew its position in Transcat by 153.1% during the fourth quarter. JPMorgan Chase & Co. now owns 26,434 shares of the scientific and technical instruments company’s stock valued at $2,795,000 after buying an additional 15,991 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Transcat during the fourth quarter worth about $190,000. Diamond Hill Capital Management Inc. raised its position in Transcat by 11.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,143 shares of the scientific and technical instruments company’s stock worth $650,000 after acquiring an additional 643 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Transcat in the fourth quarter valued at about $2,071,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director Craig D. Cairns purchased 1,200 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $77.02 per share, with a total value of $92,424.00. Following the completion of the acquisition, the director now owns 1,910 shares in the company, valued at $147,108.20. This trade represents a 169.01 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Transcat Price Performance

Shares of NASDAQ TRNS opened at $81.81 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.42. Transcat, Inc. has a fifty-two week low of $67.56 and a fifty-two week high of $147.12. The stock has a market cap of $761.57 million, a PE ratio of 44.22 and a beta of 0.67. The stock has a fifty day moving average of $76.45 and a 200-day moving average of $96.85.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.23% and a net margin of 6.22%. During the same quarter last year, the firm posted $0.56 earnings per share. Equities research analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. HC Wainwright lowered their target price on Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Northland Securities reiterated a “market perform” rating and set a $85.00 price target (down previously from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. Finally, Oppenheimer cut Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $111.50.

Transcat Profile

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.