Holding Corp Energy Acquires 107,600 Shares of Tecnoglass (NYSE:TGLS) Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy bought 107,600 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $45.28 per share, for a total transaction of $4,872,128.00. Following the acquisition, the insider directly owned 20,624,356 shares of the company’s stock, valued at $933,870,839.68. This represents a 0.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Friday, March 13th, Holding Corp Energy purchased 107,629 shares of Tecnoglass stock. The stock was bought at an average price of $45.11 per share, with a total value of $4,855,144.19.
• On Wednesday, March 11th, Holding Corp Energy purchased 92,066 shares of Tecnoglass stock. The shares were bought at an average cost of $44.24 per share, for a total transaction of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy acquired 107,600 shares of Tecnoglass stock. The shares were bought at an average price of $43.41 per share, for a total transaction of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy acquired 107,000 shares of Tecnoglass stock. The stock was bought at an average cost of $41.06 per share, with a total value of $4,393,420.00.

Tecnoglass Price Performance

NYSE:TGLS opened at $45.03 on Wednesday. Tecnoglass Inc. has a 1-year low of $40.09 and a 1-year high of $90.34. The company has a current ratio of 1.86, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $49.46 and a 200 day simple moving average of $55.03. The stock has a market capitalization of $2.01 billion, a PE ratio of 13.17, a P/E/G ratio of 0.55 and a beta of 1.72.

Tecnoglass (NYSE:TGLS) last issued its earnings results on Thursday, February 26th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.21). The firm had revenue of $245.30 million for the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TGLS. Zacks Research downgraded shares of Tecnoglass from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Tecnoglass in a research report on Monday, December 22nd. B. Riley Financial dropped their price objective on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Finally, DA Davidson cut their price objective on Tecnoglass from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.50.

Hedge Funds Weigh In On Tecnoglass

A number of hedge funds and other institutional investors have recently modified their holdings of TGLS. First Horizon Corp purchased a new position in shares of Tecnoglass during the 3rd quarter valued at about $28,000. Kemnay Advisory Services Inc. purchased a new stake in Tecnoglass in the fourth quarter worth approximately $28,000. Arax Advisory Partners boosted its stake in Tecnoglass by 128.4% in the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after buying an additional 335 shares in the last quarter. Federated Hermes Inc. grew its position in Tecnoglass by 290.2% during the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after acquiring an additional 444 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Tecnoglass by 223.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after acquiring an additional 440 shares during the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company’s product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.