Baird Financial Group Inc. Boosts Holdings in TMC the metals company Inc. $TMC

Key Points

• Baird Financial Group Inc. increased its holdings in TMC the metals company by 35.1%, acquiring an additional 766,167 shares, bringing their total ownership to approximately $5.07 million.
• Several institutional investors have also boosted their stakes in TMC, with First Manhattan CO. LLC. increasing its holdings by 115.2%, now owning nearly 18.7 million shares worth around $21 million.
• TMC the metals has received upgraded analyst ratings recently, with Wedbush raising its price objective from $6.00 to $11.00, resulting in a consensus rating of "Moderate Buy" and an average target price of $7.33.

Baird Financial Group Inc. lifted its position in TMC the metals company Inc. (NASDAQ:TMC - Free Report) by 35.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,946,027 shares of the company's stock after purchasing an additional 766,167 shares during the period. Baird Financial Group Inc. owned about 0.85% of TMC the metals worth $5,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. First Manhattan CO. LLC. boosted its position in shares of TMC the metals by 115.2% during the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock worth $20,974,000 after acquiring an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC raised its holdings in shares of TMC the metals by 100.0% during the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock worth $7,345,000 after acquiring an additional 2,135,038 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of TMC the metals by 7,330.9% in the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after purchasing an additional 1,364,424 shares in the last quarter. Shay Capital LLC raised its stake in TMC the metals by 965.6% during the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company's stock valued at $1,044,000 after purchasing an additional 844,904 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of TMC the metals by 11.9% in the 4th quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock worth $608,000 after buying an additional 57,606 shares in the last quarter. Hedge funds and other institutional investors own 4.39% of the company's stock.

TMC the metals Price Performance

TMC the metals stock traded up $0.10 during trading hours on Monday, hitting $5.22. 4,960,833 shares of the stock traded hands, compared to its average volume of 8,446,049. TMC the metals company Inc. has a 1 year low of $0.72 and a 1 year high of $8.63. The firm's 50 day moving average price is $6.09 and its 200-day moving average price is $4.21. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -14.11 and a beta of 1.64.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Research analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wedbush upgraded TMC the metals from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th. HC Wainwright reaffirmed a "buy" rating and set a $7.25 price target on shares of TMC the metals in a research note on Monday, August 18th. Finally, Zacks Research upgraded TMC the metals from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $7.33.

Insider Buying and Selling at TMC the metals

In other news, Director Brendan May sold 44,204 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.38, for a total transaction of $326,225.52. Following the sale, the director owned 197,586 shares of the company's stock, valued at approximately $1,458,184.68. This trade represents a 18.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony O'sullivan sold 250,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the completion of the sale, the insider directly owned 1,125,667 shares of the company's stock, valued at approximately $5,909,751.75. This trade represents a 18.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 504,314 shares of company stock worth $3,146,155. Corporate insiders own 27.60% of the company's stock.

TMC the metals Company Profile

TMC the metals company Inc, a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.