Royal Bank of Canada Lowers Stake in Team, Inc. (TISI)

Royal Bank of Canada lessened its holdings in Team, Inc. (NYSE:TISI) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 851,277 shares of the business services provider’s stock after selling 18,456 shares during the period. Royal Bank of Canada owned about 2.85% of Team worth $19,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TISI. State of Alaska Department of Revenue lifted its position in shares of Team by 79.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,883 shares of the business services provider’s stock worth $137,000 after purchasing an additional 2,613 shares during the period. UBS Group AG lifted its position in shares of Team by 21.6% in the 1st quarter. UBS Group AG now owns 5,642 shares of the business services provider’s stock worth $152,000 after purchasing an additional 1,003 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in shares of Team by 4.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the business services provider’s stock worth $163,000 after purchasing an additional 300 shares during the period. Mason Street Advisors LLC lifted its position in shares of Team by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 6,897 shares of the business services provider’s stock worth $187,000 after purchasing an additional 452 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Team by 57.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,482 shares of the business services provider’s stock worth $222,000 after purchasing an additional 3,469 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Louis A. Waters purchased 17,500 shares of the stock in a transaction on Wednesday, August 16th. The stock was bought at an average price of $11.40 per share, for a total transaction of $199,500.00. Following the acquisition, the director now directly owns 160,580 shares of the company’s stock, valued at approximately $1,830,612. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffery Gerald Davis purchased 5,000 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $10.96 per share, with a total value of $54,800.00. Following the acquisition, the director now directly owns 13,869 shares in the company, valued at $152,004.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 36,000 shares of company stock valued at $408,130 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Team from a “strong sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised shares of Team from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. TheStreet cut shares of Team from a “c-” rating to a “d+” rating in a research report on Tuesday, July 25th. Johnson Rice cut shares of Team from a “buy” rating to a “hold” rating and decreased their target price for the company from $36.00 to $26.00 in a research report on Tuesday, July 25th. Finally, Stephens cut shares of Team from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $34.00 to $19.00 in a research report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $22.50.

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Shares of Team, Inc. (NYSE TISI) opened at 12.50 on Thursday. Team, Inc. has a 52-week low of $10.45 and a 52-week high of $39.70. The company’s 50-day moving average is $12.88 and its 200-day moving average is $20.29. The stock’s market cap is $372.99 million.

Team (NYSE:TISI) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.54). Team had a negative return on equity of 2.22% and a negative net margin of 2.83%. The firm had revenue of $312.26 million for the quarter, compared to analyst estimates of $309.60 million. Equities analysts anticipate that Team, Inc. will post ($0.52) EPS for the current year.

Team Profile

Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.

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Institutional Ownership by Quarter for Team (NYSE:TISI)

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