Wells Fargo & Company MN boosted its stake in Team, Inc. (NYSE:TISI) by 422.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,011 shares of the business services provider’s stock after acquiring an additional 122,923 shares during the period. Wells Fargo & Company MN owned about 0.51% of Team worth $2,265,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its position in Team by 22.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 274,204 shares of the business services provider’s stock valued at $4,086,000 after acquiring an additional 50,169 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Team by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 403,235 shares of the business services provider’s stock valued at $5,463,000 after acquiring an additional 133,753 shares during the last quarter. Horrell Capital Management Inc. lifted its position in Team by 49.6% in the fourth quarter. Horrell Capital Management Inc. now owns 226,300 shares of the business services provider’s stock valued at $3,372,000 after acquiring an additional 75,000 shares during the last quarter. Skylands Capital LLC purchased a new stake in Team in the fourth quarter valued at $1,050,000. Finally, GSA Capital Partners LLP purchased a new stake in Team in the third quarter valued at $549,000. 96.88% of the stock is owned by hedge funds and other institutional investors.
In other Team news, insider Greg L. Boane bought 2,015 shares of Team stock in a transaction dated Friday, March 16th. The stock was acquired at an average cost of $14.83 per share, with a total value of $29,882.45. Following the completion of the acquisition, the insider now owns 11,572 shares of the company’s stock, valued at $171,612.76. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.10% of the stock is currently owned by corporate insiders.
Team (NYSE:TISI) last announced its earnings results on Tuesday, March 13th. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.42. Team had a negative net margin of 8.68% and a negative return on equity of 2.52%. The business had revenue of $316.33 million during the quarter, compared to analysts’ expectations of $307.70 million. sell-side analysts predict that Team, Inc. will post -0.53 EPS for the current year.
TISI has been the subject of a number of research reports. Zacks Investment Research raised shares of Team from a “sell” rating to a “hold” rating in a research report on Saturday, April 7th. ValuEngine cut shares of Team from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 15th. KeyCorp boosted their price target on shares of Team to $19.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. TheStreet raised shares of Team from a “d” rating to a “c-” rating in a research report on Wednesday, March 14th. Finally, Stephens raised shares of Team from an “equal weight” rating to an “overweight” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Team currently has an average rating of “Hold” and an average price target of $20.67.
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Team Company Profile
Team, Inc provides specialty industrial services in the United States, Canada, Europe, and internationally. The company operates through three segments: TeamQualspec Group (TeamQualspec), TeamFurmanite Group (TeamFurmanite), and Quest Integrity. The TeamQualspec segment offers non-destructive evaluation and testing, radiographic testing, ultrasonic testing, magnetic particle inspection, liquid penetrant inspection, positive material identification, electromagnetic testing, eddy current testing, and alternating current field measurement services.
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