Pinnacle Associates Ltd. Decreases Stake in Telos Corporation $TLS

Pinnacle Associates Ltd. reduced its stake in shares of Telos Corporation (NASDAQ:TLS) by 18.1% in the second quarter, Holdings Channel reports. The fund owned 2,205,819 shares of the company’s stock after selling 488,387 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Telos were worth $6,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in shares of Telos by 28.7% during the 1st quarter. NewEdge Advisors LLC now owns 17,918 shares of the company’s stock valued at $43,000 after acquiring an additional 4,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of Telos by 7.3% during the 1st quarter. Bank of New York Mellon Corp now owns 131,602 shares of the company’s stock valued at $313,000 after acquiring an additional 8,957 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Telos by 69.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 24,649 shares of the company’s stock valued at $78,000 after acquiring an additional 10,100 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Telos by 18.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,660 shares of the company’s stock valued at $189,000 after acquiring an additional 11,980 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Telos by 12.8% during the 1st quarter. American Century Companies Inc. now owns 108,217 shares of the company’s stock valued at $258,000 after acquiring an additional 12,284 shares during the period. 62.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Telos news, Director Bradley W. Jacobs sold 25,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $6.26, for a total value of $156,500.00. Following the sale, the director directly owned 188,293 shares in the company, valued at $1,178,714.18. This represents a 11.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Derrick D. Dockery sold 4,500 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $6.87, for a total transaction of $30,915.00. Following the completion of the sale, the director owned 182,600 shares in the company, valued at $1,254,462. This represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 537,544 shares of company stock worth $3,579,041. Company insiders own 14.90% of the company’s stock.

Telos Stock Down 0.1%

TLS opened at $6.86 on Friday. The company has a 50 day moving average of $6.80 and a 200 day moving average of $4.32. The company has a market cap of $498.72 million, a PE ratio of -8.91 and a beta of 1.07. Telos Corporation has a 12 month low of $1.83 and a 12 month high of $7.72. The company has a current ratio of 2.65, a quick ratio of 2.55 and a debt-to-equity ratio of 0.06.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TLS shares. B. Riley reissued a “buy” rating on shares of Telos in a research report on Friday, October 17th. Wall Street Zen raised shares of Telos from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Telos in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $4.50 price objective (up from $2.25) on shares of Telos in a report on Tuesday, August 12th. Finally, Wedbush raised their price objective on shares of Telos from $6.00 to $9.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.83.

Telos Company Profile

Telos Corporation, together with its subsidiaries, provides cyber, cloud, and enterprise security solutions worldwide. The company operates in two segments, Security Solutions and Secure Networks. It provides Xacta, a platform for enterprise cyber risk management and security compliance automation; and consulting, assessment and compliance, engineering and evaluation, operations, and penetration testing services.