Mirae Asset Global Investments Co. Ltd. Sells 63,606 Shares of Telos Corporation $TLS

Key Points

• Mirae Asset Global Investments has significantly reduced its stake in Telos Corporation by 83.0%, selling 63,606 shares and holding only 13,054 shares post-sale.
• Insider activity includes CEO John B. Wood selling 200,000 shares for approximately $1.31 million, indicating a 3.86% decrease in his position.
• Analyst ratings on Telos show a mix of sentiments, with BMO Capital Markets setting a new price target of $4.50, whereas Weiss Ratings continues to advise a "sell" on the stock.

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Telos Corporation (NASDAQ:TLS - Free Report) by 83.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,054 shares of the company's stock after selling 63,606 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Telos were worth $41,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. OLD Mission Capital LLC bought a new position in Telos during the first quarter valued at about $30,000. AQR Capital Management LLC purchased a new position in Telos during the 1st quarter valued at about $39,000. NewEdge Advisors LLC increased its holdings in Telos by 28.7% during the 1st quarter. NewEdge Advisors LLC now owns 17,918 shares of the company's stock worth $43,000 after acquiring an additional 4,000 shares during the period. LeConte Wealth Management LLC purchased a new stake in shares of Telos in the second quarter worth $54,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Telos by 69.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 24,649 shares of the company's stock valued at $78,000 after acquiring an additional 10,100 shares in the last quarter. Institutional investors own 62.14% of the company's stock.

Insider Buying and Selling at Telos

In other news, Director Bradley W. Jacobs sold 25,000 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $6.26, for a total value of $156,500.00. Following the transaction, the director directly owned 188,293 shares in the company, valued at $1,178,714.18. This trade represents a 11.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John B. Wood sold 200,000 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $6.55, for a total value of $1,310,000.00. Following the completion of the transaction, the chief executive officer directly owned 4,984,365 shares in the company, valued at approximately $32,647,590.75. This represents a 3.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 537,544 shares of company stock worth $3,579,041. 14.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on TLS. Weiss Ratings reissued a "sell (d-)" rating on shares of Telos in a report on Wednesday, October 8th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $4.50 price target (up from $2.25) on shares of Telos in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Telos from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Wedbush raised their price target on Telos from $4.00 to $6.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, DA Davidson lifted their price objective on Telos from $2.25 to $4.00 and gave the company a "neutral" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.83.

Telos Price Performance

Shares of TLS opened at $6.66 on Monday. Telos Corporation has a twelve month low of $1.83 and a twelve month high of $7.48. The firm has a 50 day moving average of $6.04 and a 200 day moving average of $3.84. The company has a quick ratio of 2.55, a current ratio of 2.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $484.18 million, a P/E ratio of -8.65 and a beta of 1.07.

Telos Profile

Telos Corporation, together with its subsidiaries, provides cyber, cloud, and enterprise security solutions worldwide. The company operates in two segments, Security Solutions and Secure Networks. It provides Xacta, a platform for enterprise cyber risk management and security compliance automation; and consulting, assessment and compliance, engineering and evaluation, operations, and penetration testing services.

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