Cubist Systematic Strategies LLC Purchases New Position in Tecnoglass Inc. $TGLS

Key Points

• Cubist Systematic Strategies LLC has purchased a new stake in Tecnoglass Inc., acquiring 6,677 shares valued at approximately $478,000 in the first quarter.
• Other institutional investors have also increased their positions in Tecnoglass, with Wellington Management Group reporting a 15.6% increase and Trexquant Investment LP lifting their stake by an astounding 741.3%.
• Analysts remain bullish on Tecnoglass, with B. Riley initiating coverage and setting a "buy" rating and a price target of $100.00; the average rating is currently a "Moderate Buy".

Cubist Systematic Strategies LLC purchased a new stake in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,677 shares of the company's stock, valued at approximately $478,000.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Tecnoglass by 15.6% during the first quarter. Wellington Management Group LLP now owns 1,883,864 shares of the company's stock worth $134,790,000 after acquiring an additional 254,686 shares during the period. Trexquant Investment LP lifted its stake in shares of Tecnoglass by 741.3% during the first quarter. Trexquant Investment LP now owns 119,997 shares of the company's stock valued at $8,586,000 after buying an additional 105,733 shares during the period. American Century Companies Inc. increased its position in Tecnoglass by 12.1% during the first quarter. American Century Companies Inc. now owns 816,166 shares of the company's stock worth $58,397,000 after purchasing an additional 87,791 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Tecnoglass in the first quarter worth $5,332,000. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of Tecnoglass in the fourth quarter worth $4,239,000. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, B. Riley started coverage on shares of Tecnoglass in a report on Friday, May 16th. They set a "buy" rating and a $100.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

Tecnoglass Stock Performance

Shares of TGLS opened at $71.41 on Thursday. The firm's 50 day moving average is $75.02 and its 200-day moving average is $75.12. The stock has a market capitalization of $3.36 billion, a P/E 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 Inc. has a 12-month low of $58.42 and a 12-month high of $90.34.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.03 earnings per share for the quarter, topping 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%. The business's revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. Tecnoglass has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Tecnoglass Inc. will post 3.53 EPS for the current fiscal 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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