Victory Capital Management Inc. Has $19.57 Million Stock Holdings in Tecnoglass Inc. $TGLS

Victory Capital Management Inc. lifted its holdings in Tecnoglass Inc. (NYSE:TGLS) by 4.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 292,437 shares of the company’s stock after acquiring an additional 13,267 shares during the quarter. Victory Capital Management Inc.’s holdings in Tecnoglass were worth $19,567,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Tecnoglass by 14.3% in the 2nd quarter. American Century Companies Inc. now owns 932,926 shares of the company’s stock valued at $72,171,000 after buying an additional 116,760 shares during the period. Castleark Management LLC acquired a new stake in shares of Tecnoglass during the 2nd quarter valued at $3,060,000. Citigroup Inc. boosted its stake in shares of Tecnoglass by 445.3% during the third quarter. Citigroup Inc. now owns 526,061 shares of the company’s stock valued at $35,199,000 after purchasing an additional 429,590 shares in the last quarter. CenterBook Partners LP bought a new stake in Tecnoglass during the 2nd quarter worth approximately $2,777,000. Finally, Geode Capital Management LLC grew its stake in shares of Tecnoglass by 5.5% in the second quarter. Geode Capital Management LLC now owns 557,729 shares of the company’s stock worth $43,154,000 after purchasing an additional 29,281 shares during the last quarter. Institutional investors own 37.35% of the company’s stock.

Insider Transactions at Tecnoglass

In other news, Director Anne Louise Carricarte acquired 1,100 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $43.27 per share, for a total transaction of $47,597.00. Following the purchase, the director owned 1,100 shares of the company’s stock, valued at approximately $47,597. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Tecnoglass Price Performance

Tecnoglass stock opened at $42.53 on Wednesday. The business’s 50 day simple moving average is $50.09 and its 200 day simple moving average is $56.02. Tecnoglass Inc. has a 12 month low of $40.09 and a 12 month high of $90.34. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.54 and a beta of 1.72. The company has a current ratio of 1.86, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24.

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

Wall Street Analyst Weigh In

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