Los Angeles Capital Management LLC Makes New Investment in TPI Composites, Inc. (NASDAQ:TPIC)

Los Angeles Capital Management LLC acquired a new stake in TPI Composites, Inc. (NASDAQ:TPIC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,421 shares of the industrial products company’s stock, valued at approximately $147,000. Los Angeles Capital Management LLC owned about 0.11% of TPI Composites at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TPIC. Oaktree Capital Management LP raised its holdings in TPI Composites by 556.5% in the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock valued at $19,047,000 after acquiring an additional 3,899,903 shares during the last quarter. Carmignac Gestion lifted its position in TPI Composites by 10.2% during the third quarter. Carmignac Gestion now owns 1,099,383 shares of the industrial products company’s stock worth $2,913,000 after buying an additional 102,005 shares during the period. Clean Energy Transition LLP acquired a new stake in TPI Composites in the 4th quarter worth about $1,620,000. KBC Group NV grew its holdings in TPI Composites by 5.9% in the 4th quarter. KBC Group NV now owns 318,049 shares of the industrial products company’s stock valued at $1,317,000 after buying an additional 17,743 shares during the period. Finally, Green Alpha Advisors LLC increased its stake in shares of TPI Composites by 93.6% during the 4th quarter. Green Alpha Advisors LLC now owns 221,276 shares of the industrial products company’s stock valued at $916,000 after acquiring an additional 106,989 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm raised their target price on shares of TPI Composites from $3.30 to $3.75 and gave the stock a “neutral” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.63.

TPI Composites Stock Performance

NASDAQ TPIC opened at $4.34 on Friday. TPI Composites, Inc. has a one year low of $1.63 and a one year high of $11.05. The company’s 50 day moving average price is $4.20 and its 200 day moving average price is $3.42. The firm has a market capitalization of $205.02 million, a price-to-earnings ratio of -0.94 and a beta of 2.02.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, May 2nd. The industrial products company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.59). The company had revenue of $299.06 million for the quarter, compared to analyst estimates of $299.93 million. Sell-side analysts forecast that TPI Composites, Inc. will post -2.11 EPS for the current fiscal year.

TPI Composites Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.