Team, Inc. (NYSE:TISI) Position Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of Team, Inc. (NYSE:TISI) by 79.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,883 shares of the business services provider’s stock after buying an additional 2,613 shares during the period. State of Alaska Department of Revenue’s holdings in Team were worth $137,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TISI. Gotham Asset Management LLC acquired a new position in shares of Team during the first quarter worth about $605,000. State Street Corp boosted its position in shares of Team by 6.1% in the first quarter. State Street Corp now owns 659,135 shares of the business services provider’s stock worth $17,833,000 after buying an additional 38,029 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Team by 487.9% in the first quarter. Bank of America Corp DE now owns 142,792 shares of the business services provider’s stock worth $3,861,000 after buying an additional 118,502 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Team by 9.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 180,237 shares of the business services provider’s stock worth $4,876,000 after buying an additional 14,810 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Team by 121,178.7% in the first quarter. BlackRock Inc. now owns 3,643,211 shares of the business services provider’s stock worth $98,549,000 after buying an additional 3,640,207 shares during the last quarter. Hedge funds and other institutional investors own 93.67% of the company’s stock.

Team, Inc. (TISI) traded down 6.769% during midday trading on Thursday, reaching $10.675. 636,914 shares of the company were exchanged. The firm’s 50-day moving average price is $20.22 and its 200 day moving average price is $26.21. The stock’s market capitalization is $318.39 million. Team, Inc. has a 52-week low of $10.65 and a 52-week high of $39.70.

Team (NYSE:TISI) last posted its quarterly earnings results on Monday, August 7th. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.54. The company had revenue of $312.26 million during the quarter, compared to analysts’ expectations of $309.60 million. Team had a negative return on equity of 2.22% and a negative net margin of 2.83%. Equities analysts predict that Team, Inc. will post ($0.35) earnings per share for the current year.

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A number of brokerages have issued reports on TISI. Zacks Investment Research upgraded shares of Team from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of Team from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Johnson Rice cut shares of Team from a “buy” rating to a “hold” rating and cut their target price for the stock from $36.00 to $26.00 in a research report on Tuesday, July 25th. Stephens cut shares of Team from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $34.00 to $19.00 in a research report on Tuesday, July 25th. Finally, ValuEngine cut shares of Team from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.50.

Team Company Profile

Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.

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Institutional Ownership by Quarter for Team (NYSE:TISI)

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