Team (NYSE:TISI) Share Price Passes Above 200-Day Moving Average of $7.00

Team, Inc. (NYSE:TISI)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.00 and traded as high as $7.91. Team shares last traded at $7.61, with a volume of 5,887 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Team in a report on Friday. They set a “buy” rating on the stock.

Team Stock Up 2.9 %

The company has a market cap of $33.64 million, a P/E ratio of -0.44 and a beta of 1.81. The company has a current ratio of 1.84, a quick ratio of 1.62 and a debt-to-equity ratio of 6.72. The firm’s 50 day moving average price is $6.67 and its 200-day moving average price is $7.00.

Team (NYSE:TISI) last issued its earnings results on Thursday, March 7th. The business services provider reported ($3.18) earnings per share (EPS) for the quarter. The business had revenue of $214.13 million during the quarter. Team had a negative net margin of 8.78% and a negative return on equity of 79.77%.

Insider Activity

In other news, major shareholder Corre Partners Management, Llc purchased 20,342 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average cost of $5.71 per share, for a total transaction of $116,152.82. Following the transaction, the insider now directly owns 1,474,886 shares of the company’s stock, valued at approximately $8,421,599.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have acquired 54,313 shares of company stock valued at $338,516. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Team

Hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its stake in shares of Team by 672.0% during the 2nd quarter. Millennium Management LLC now owns 456,688 shares of the business services provider’s stock worth $339,000 after acquiring an additional 397,535 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Team by 41.8% during the 1st quarter. Renaissance Technologies LLC now owns 400,710 shares of the business services provider’s stock worth $886,000 after acquiring an additional 118,049 shares in the last quarter. Barclays PLC grew its stake in shares of Team by 16.6% during the 3rd quarter. Barclays PLC now owns 215,000 shares of the business services provider’s stock worth $1,494,000 after acquiring an additional 30,591 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Team by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 119,872 shares of the business services provider’s stock worth $833,000 after acquiring an additional 3,172 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Team by 401.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 90,471 shares of the business services provider’s stock worth $67,000 after acquiring an additional 72,442 shares in the last quarter. 46.57% of the stock is currently owned by institutional investors and hedge funds.

About Team

Team, Inc, together with its subsidiaries, provides a suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services in the United States, Canada, Europe, and internationally. It operates through Inspection and Heat Treating (IHT) and Mechanical Services (MS) segments.