Alliancebernstein L.P. Acquires 94,335 Shares of Tecnoglass Inc. $TGLS

Key Points

• Alliancebernstein L.P. increased its stake in Tecnoglass Inc. by 42.3%, acquiring an additional 94,335 shares during the 1st quarter, bringing its total ownership to 317,303 shares valued at approximately $22.7 million.
• Institutional investors now own 37.35% of Tecnoglass shares, with other hedge funds also increasing stakes, including a 963.3% increase by PDT Partners LLC.
• B. Riley initiated coverage on Tecnoglass with a buy rating and a target price of $100.00, while the stock received an average rating of "Moderate Buy" from analysts.

Alliancebernstein L.P. increased its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 42.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 317,303 shares of the company's stock after buying an additional 94,335 shares during the period. Alliancebernstein L.P. owned 0.68% of Tecnoglass worth $22,703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Tecnoglass by 25.8% in the first quarter. AQR Capital Management LLC now owns 3,505 shares of the company's stock worth $251,000 after acquiring an additional 719 shares during the last quarter. PDT Partners LLC increased its holdings in shares of Tecnoglass by 963.3% in the first quarter. PDT Partners LLC now owns 53,167 shares of the company's stock valued at $3,804,000 after purchasing an additional 48,167 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Tecnoglass in the first quarter valued at approximately $478,000. Royal Bank of Canada lifted its holdings in Tecnoglass by 8.3% during the 1st quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock worth $224,000 after buying an additional 238 shares in the last quarter. Finally, Broad Bay Capital Management LP lifted its holdings in Tecnoglass by 16.9% during the 1st quarter. Broad Bay Capital Management LP now owns 248,207 shares of the company's stock worth $17,759,000 after buying an additional 35,800 shares in the last quarter. Institutional investors and hedge funds own 37.35% of the company's stock.

Wall Street Analyst Weigh In

Separately, B. Riley began coverage on Tecnoglass in a research note on Friday, May 16th. They issued a "buy" rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Tecnoglass presently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

Tecnoglass Stock Performance

Shares of NASDAQ:TGLS opened at $71.41 on Thursday. The firm's 50 day simple moving average is $75.02 and its 200 day simple moving average is $75.12. Tecnoglass Inc. has a fifty-two week low of $58.42 and a fifty-two week high of $90.34. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 22.31 and a beta of 1.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.21 and a quick ratio of 1.63.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.96 by $0.07. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. Tecnoglass's revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Tecnoglass Company Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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