TSS Inc. $TSSI Position Lessened by Murchinson Ltd.

Key Points

• Murchinson Ltd. significantly reduced its holding in TSS Inc. by 81.0% during the first quarter, owning just 44,173 shares valued at approximately $347,000 after selling 187,727 shares.
• Multiple hedge funds, including Wells Fargo and Northern Trust, have recently established new stakes in TSS, indicating ongoing interest from institutional investors.
• TSS stock experienced a 6.0% increase in value, opening at $13.71, and has a market capitalization of $347.69 million.

Murchinson Ltd. reduced its stake in shares of TSS Inc. (NASDAQ:TSSI - Free Report) by 81.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,173 shares of the company's stock after selling 187,727 shares during the period. Murchinson Ltd. owned 0.18% of TSS worth $347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSSI. Wells Fargo & Company MN acquired a new stake in shares of TSS in the fourth quarter valued at about $114,000. Tower Research Capital LLC TRC acquired a new stake in TSS during the fourth quarter worth about $42,000. Stifel Financial Corp acquired a new stake in TSS during the fourth quarter worth about $190,000. Northern Trust Corp acquired a new stake in TSS during the fourth quarter worth about $324,000. Finally, Jane Street Group LLC acquired a new stake in TSS during the fourth quarter worth about $604,000.

TSS Stock Up 6.0%

NASDAQ TSSI opened at $13.71 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The stock's 50 day moving average is $21.42 and its two-hundred day moving average is $15.22. The company has a market capitalization of $347.69 million, a price-to-earnings ratio of 38.08 and a beta of 1.77. TSS Inc. has a 1-year low of $4.61 and a 1-year high of $31.94.

TSS (NASDAQ:TSSI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.06 earnings per share for the quarter. The company had revenue of $43.97 million for the quarter. TSS had a return on equity of 107.01% and a net margin of 3.43%.

Insider Buying and Selling

In other TSS news, COO Karl Todd Marrott sold 23,908 shares of TSS stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $16.16, for a total transaction of $386,353.28. Following the sale, the chief operating officer directly owned 306,675 shares of the company's stock, valued at approximately $4,955,868. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel M. Chism sold 5,000 shares of TSS stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $16.20, for a total value of $81,000.00. Following the sale, the chief financial officer directly owned 311,219 shares in the company, valued at $5,041,747.80. The trade was a 1.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,825 shares of company stock worth $677,196 over the last ninety days. Company insiders own 18.94% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded TSS from a "buy" rating to a "hold" rating in a research report on Monday, June 23rd.

About TSS

TSS, Inc offers planning, design, engineering, construction management, commissioning and maintenance services. It provides these services primarily for specialized facilities such as data centers, communications rooms, call centers, laboratories, trading floors, network operations centers, medical facilities and similar environments.

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