State of Alaska Department of Revenue grew its holdings in Team, Inc. (NYSE:TISI) by 126.9% during the third quarter, Holdings Channel.com reports. The firm owned 23,335 shares of the business services provider’s stock after acquiring an additional 13,051 shares during the period. State of Alaska Department of Revenue’s holdings in Team were worth $421,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Marshall Wace LLP acquired a new position in shares of Team during the first quarter valued at $41,000. Quantamental Technologies LLC acquired a new position in shares of Team during the second quarter valued at $44,000. Aperio Group LLC acquired a new position in shares of Team during the second quarter valued at $156,000. Delta Investment Management LLC acquired a new position in shares of Team during the second quarter valued at $164,000. Finally, FDx Advisors Inc. acquired a new position in shares of Team during the second quarter valued at $165,000.
Separately, Zacks Investment Research lowered Team from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $22.67.
Team (NYSE:TISI) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. Team had a negative return on equity of 2.49% and a negative net margin of 2.75%. The business had revenue of $315.83 million for the quarter, compared to analyst estimates of $335.70 million. As a group, sell-side analysts predict that Team, Inc. will post -0.09 EPS for the current year.
In other news, Director Robert C. Skaggs, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $16.21 per share, with a total value of $32,420.00. Following the completion of the purchase, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $25,936. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
Team, Inc provides specialty industrial services in the United States, Canada, Europe, and internationally. It operates through three segments: Inspection and Heat Treating Group (IHT), Mechanical Services Group (MS), and Quest Integrity Group (Quest Integrity). The IHT segment offers non-destructive evaluation and testing, radiographic testing, ultrasonic testing, magnetic particle inspection, liquid penetrant inspection, positive material identification, electromagnetic testing, alternating current field measurement, and eddy current testing services.
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