Pinnacle Associates Ltd. Buys 113,001 Shares of Telos Corporation $TLS

Pinnacle Associates Ltd. increased its stake in shares of Telos Corporation (NASDAQ:TLS) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,341,741 shares of the company’s stock after acquiring an additional 113,001 shares during the period. Pinnacle Associates Ltd.’s holdings in Telos were worth $9,531,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in Telos by 29.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,118,914 shares of the company’s stock worth $4,688,000 after purchasing an additional 256,014 shares during the period. Globeflex Capital L P bought a new position in Telos during the 2nd quarter worth about $1,336,000. Waverly Advisors LLC acquired a new stake in shares of Telos in the 2nd quarter valued at about $400,000. Bank of New York Mellon Corp acquired a new stake in shares of Telos in the 2nd quarter valued at about $533,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Telos in the 2nd quarter valued at about $128,000. 62.14% of the stock is owned by institutional investors.

Telos Stock Performance

Shares of TLS stock opened at $4.61 on Thursday. Telos Corporation has a 12 month low of $3.79 and a 12 month high of $8.36. The company’s fifty day simple moving average is $4.38 and its 200-day simple moving average is $4.46. The firm has a market cap of $344.55 million, a PE ratio of -21.95 and a beta of 0.96. The company has a quick ratio of 2.26, a current ratio of 2.38 and a debt-to-equity ratio of 0.05.

Telos (NASDAQ:TLS) last released its earnings results on Monday, August 10th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $47.75 million during the quarter, compared to the consensus estimate of $45.16 million. Telos had a negative net margin of 8.13% and a negative return on equity of 2.60%.

Insider Buying and Selling at Telos

In other Telos news, EVP Hutchinson Robbins sold 62,398 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $4.73, for a total transaction of $295,142.54. Following the sale, the executive vice president directly owned 589,915 shares of the company’s stock, valued at $2,790,297.95. The trade was a 9.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gary Bendza sold 174,539 shares of the stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $4.05, for a total transaction of $706,882.95. Following the transaction, the executive vice president owned 337,008 shares of the company’s stock, valued at approximately $1,364,882.40. This represents a 34.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 581,549 shares of company stock valued at $2,512,583. Corporate insiders own 14.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TLS. Zacks Research upgraded Telos from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. Wall Street Zen upgraded Telos from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Yorkville Ives initiated coverage on Telos in a report on Monday, October 5th. They set an “outperform” rating and a $6.00 price objective for the company. Weiss Ratings raised Telos from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Finally, Wedbush cut Telos from an “outperform” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have 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 an average rating of “Moderate Buy” and an average price target of $6.42.

Telos Company Profile

Telos Corporation (NASDAQ: TLS) is a cybersecurity and information technology company that helps government and commercial organizations protect digital assets, manage cyber risk and secure access to networks and applications. The company primarily serves U.S. federal agencies, defense and intelligence organizations, critical infrastructure operators and commercial enterprises.

Its offerings include cybersecurity and risk-management solutions, secure networking, identity and access management, cloud security, and related consulting and professional services.