K2 Principal Fund L.P. Buys New Shares in TSS Inc. $TSSI

K2 Principal Fund L.P. purchased a new position in shares of TSS Inc. (NASDAQ:TSSI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 50,000 shares of the company’s stock, valued at approximately $354,000. K2 Principal Fund L.P. owned 0.17% of TSS as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System bought a new position in TSS during the second quarter worth about $33,000. Bank of America Corp DE bought a new position in TSS during the fourth quarter worth about $40,000. BNP Paribas Financial Markets bought a new position in TSS during the second quarter worth about $45,000. Legal & General Group Plc bought a new position in TSS during the second quarter worth about $59,000. Finally, Tower Research Capital LLC TRC grew its holdings in TSS by 81.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,129 shares of the company’s stock worth $90,000 after purchasing an additional 1,401 shares during the period.

Insiders Place Their Bets

In related news, COO Karl Todd Marrott sold 23,636 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.11, for a total value of $357,139.96. Following the completion of the sale, the chief operating officer directly owned 251,287 shares in the company, valued at approximately $3,796,946.57. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kieran Brennan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the transaction, the senior vice president owned 271,333 shares of the company’s stock, valued at approximately $4,341,328. This represents a 3.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 486,649 shares of company stock valued at $7,592,031 in the last quarter. Company insiders own 15.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of TSS in a report on Friday, May 8th. Wall Street Zen cut TSS from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Weiss Ratings upgraded TSS from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Finally, Zacks Research upgraded TSS to a “hold” rating in a report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.17.

TSS Trading Up 4.2%

Shares of TSSI stock opened at $12.78 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.99 and a debt-to-equity ratio of 0.16. The stock has a market cap of $358.73 million, a P/E ratio of 26.08 and a beta of 1.99. The stock has a 50 day simple moving average of $13.60 and a 200 day simple moving average of $10.92. TSS Inc. has a 1 year low of $6.87 and a 1 year high of $31.94.

TSS (NASDAQ:TSSI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $55.35 million during the quarter. TSS had a return on equity of 25.27% and a net margin of 7.14%. On average, research analysts predict that TSS Inc. will post 0.32 earnings per share for the current fiscal year.

About TSS

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments. TSS Inc, formerly known as Fortress International Group, Inc, is based in Columbia, United States.