Holding Corp Energy Purchases 107,600 Shares of Tecnoglass (NYSE:TGLS) Stock

Tecnoglass Inc. (NYSE:TGLS) major shareholder Holding Corp Energy purchased 107,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $45.28 per share, for a total transaction of $4,872,128.00. Following the acquisition, the insider owned 20,624,356 shares of the company’s stock, valued at $933,870,839.68. The trade was a 0.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Friday, March 13th, Holding Corp Energy acquired 107,629 shares of Tecnoglass stock. The shares were purchased at an average cost of $45.11 per share, with a total value of $4,855,144.19.
• On Wednesday, March 11th, Holding Corp Energy bought 92,066 shares of Tecnoglass stock. The shares were acquired at an average price of $44.24 per share, for a total transaction of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy bought 107,600 shares of Tecnoglass stock. The stock was acquired at an average cost of $43.41 per share, for a total transaction of $4,670,916.00.
• On Monday, March 9th, Holding Corp Energy bought 107,000 shares of Tecnoglass stock. The stock was acquired at an average cost of $41.06 per share, for a total transaction of $4,393,420.00.

Tecnoglass Trading Down 4.0%

Shares of NYSE:TGLS traded down $1.83 during trading on Monday, hitting $43.89. 756,015 shares of the company’s stock were exchanged, compared to its average volume of 405,324. The company has a current ratio of 1.86, a quick ratio of 1.25 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.96 billion, a P/E ratio of 12.83, a PEG ratio of 0.58 and a beta of 1.72. The firm has a 50-day moving average price of $49.74 and a two-hundred day moving average price of $55.43. Tecnoglass Inc. has a 1-year low of $40.09 and a 1-year high of $90.34.

Tecnoglass (NYSE:TGLS) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.63 earnings per share 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 business had revenue of $245.30 million during the quarter. During the same quarter in the prior year, the company earned $1.05 EPS. Tecnoglass’s revenue for the quarter was up 3.0% compared to the same quarter last year.

Hedge Funds Weigh In On Tecnoglass

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Corp bought a new stake in shares of Tecnoglass in the 3rd quarter valued at $28,000. Kemnay Advisory Services Inc. bought a new position in Tecnoglass during the fourth quarter worth about $28,000. Arax Advisory Partners lifted its holdings in Tecnoglass by 128.4% during the fourth quarter. Arax Advisory Partners now owns 596 shares of the company’s stock worth $30,000 after acquiring an additional 335 shares in the last quarter. Federated Hermes Inc. grew its stake in Tecnoglass by 290.2% in the third quarter. Federated Hermes Inc. now owns 597 shares of the company’s stock valued at $40,000 after acquiring an additional 444 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in Tecnoglass by 223.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 637 shares of the company’s stock valued at $43,000 after acquiring an additional 440 shares during the period. 37.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TGLS has been the topic of several recent research reports. B. Riley Financial reduced their price target on Tecnoglass from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. 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 note on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Tecnoglass in a report on Monday, December 22nd. Finally, Zacks Research lowered Tecnoglass from a “hold” rating to a “strong sell” rating 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 given a Sell rating to the stock. According to MarketBeat, Tecnoglass 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.