Tecnoglass Inc. $TGLS Holdings Decreased by Portolan Capital Management LLC

Portolan Capital Management LLC reduced its position in shares of Tecnoglass Inc. (NYSE:TGLS) by 27.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 109,265 shares of the company’s stock after selling 40,551 shares during the quarter. Portolan Capital Management LLC’s holdings in Tecnoglass were worth $7,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new stake in shares of Tecnoglass during the third quarter worth $28,000. Federated Hermes Inc. boosted its holdings in shares of Tecnoglass by 290.2% in the 3rd quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after buying an additional 444 shares during the period. Covestor Ltd boosted its holdings in shares of Tecnoglass by 52.9% in the 3rd quarter. Covestor Ltd now owns 2,282 shares of the company’s stock valued at $153,000 after buying an additional 790 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Tecnoglass by 5.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,485 shares of the company’s stock valued at $192,000 after buying an additional 135 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Tecnoglass during the 3rd quarter valued at about $178,000. 37.35% of the stock is currently owned by institutional investors.

Tecnoglass Stock Up 2.0%

Tecnoglass stock opened at $45.68 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.25 and a current ratio of 1.86. Tecnoglass Inc. has a one year low of $40.09 and a one year high of $90.34. The company has a 50-day simple moving average of $49.74 and a 200-day simple moving average of $55.68. The firm has a market capitalization of $2.04 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.56 and a beta of 1.72.

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

Insider Activity at Tecnoglass

In other Tecnoglass news, Director Anne Louise Carricarte acquired 1,100 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $43.27 per share, with a total value of $47,597.00. Following the acquisition, the director directly owned 1,100 shares of the company’s stock, valued at $47,597. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holding Corp Energy bought 92,066 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of $44.24 per share, for a total transaction of $4,072,999.84. Following the completion of the transaction, the insider owned 20,516,756 shares in the company, valued at $907,661,285.44. This trade represents a 0.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 307,766 shares of company stock worth $13,184,933 in the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.