Fred Alger Management LLC cut its holdings in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 212,901 shares of the scientific and technical instruments company's stock after selling 136,266 shares during the period. Fred Alger Management LLC owned approximately 2.29% of Transcat worth $22,512,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in TRNS. Jones Financial Companies Lllp raised its holdings in Transcat by 686.7% during the fourth quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 309 shares in the last quarter. Aquatic Capital Management LLC raised its holdings in Transcat by 1,052.0% during the fourth quarter. Aquatic Capital Management LLC now owns 1,152 shares of the scientific and technical instruments company's stock worth $122,000 after purchasing an additional 1,052 shares in the last quarter. Morgan Dempsey Capital Management LLC bought a new stake in Transcat during the fourth quarter worth approximately $143,000. SG Americas Securities LLC bought a new stake in Transcat during the fourth quarter worth approximately $182,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Transcat during the fourth quarter worth approximately $190,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.
Transcat Price Performance
Shares of NASDAQ TRNS traded down $0.94 during mid-day trading on Friday, reaching $78.41. The company had a trading volume of 86,198 shares, compared to its average volume of 76,768. The company has a current ratio of 2.42, a quick ratio of 1.98 and a debt-to-equity ratio of 0.14. The stock has a market cap of $729.92 million, a PE ratio of 42.38 and a beta of 0.69. The company has a 50-day moving average price of $76.85 and a two-hundred day moving average price of $90.80. Transcat, Inc. has a 1-year low of $67.56 and a 1-year high of $147.12.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. StockNews.com cut Transcat from a "hold" rating to a "sell" rating in a report on Wednesday, February 5th. Northland Securities reissued a "market perform" rating and set a $85.00 target price (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. HC Wainwright dropped their price target on Transcat from $126.00 to $106.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Oppenheimer downgraded Transcat from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Transcat presently has a consensus rating of "Hold" and an average price target of $111.50.
Check Out Our Latest Stock Analysis on TRNS
Transcat Company Profile
(
Free Report)
Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.
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