Sanctuary Advisors LLC Raises Stock Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Sanctuary Advisors LLC boosted its stake in TPI Composites, Inc. (NASDAQ:TPIC) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 290,098 shares of the industrial products company’s stock after buying an additional 22,005 shares during the period. Sanctuary Advisors LLC owned approximately 0.61% of TPI Composites worth $548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPIC. Erste Asset Management GmbH purchased a new stake in TPI Composites in the third quarter valued at approximately $7,854,000. Brightline Capital Management LLC raised its position in TPI Composites by 14.3% in the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after purchasing an additional 208,000 shares during the period. JPMorgan Chase & Co. increased its stake in TPI Composites by 433.6% during the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 118,365 shares during the period. Swedbank AB increased its stake in TPI Composites by 210.6% during the fourth quarter. Swedbank AB now owns 131,063 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 88,868 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in TPI Composites by 391.9% during the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 51,502 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Insider Transactions at TPI Composites

In related news, major shareholder Construction Taahhut A.S. Dere purchased 80,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average price of $1.52 per share, with a total value of $121,600.00. Following the completion of the acquisition, the insider now directly owns 4,397,232 shares in the company, valued at $6,683,792.64. This represents a 1.85 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have bought 205,000 shares of company stock worth $307,050. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TPIC. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Bank of America cut their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Roth Mkm cut their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TPI Composites presently has an average rating of “Hold” and an average target price of $3.83.

TPI Composites Stock Up 8.7 %

Shares of TPI Composites stock opened at $1.13 on Friday. The firm has a market capitalization of $53.80 million, a P/E ratio of -0.22 and a beta of 1.82. TPI Composites, Inc. has a 52 week low of $1.01 and a 52 week high of $5.75. The firm’s 50 day moving average is $1.55 and its two-hundred day moving average is $2.69.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The business had revenue of $346.51 million for the quarter, compared to the consensus estimate of $364.83 million. As a group, research analysts expect that TPI Composites, Inc. will post -0.9 earnings per share for the current fiscal year.

TPI Composites Company 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.