Hsbc Holdings PLC Takes $519,000 Position in Transcat, Inc. (NASDAQ:TRNS)

Hsbc Holdings PLC bought a new position in Transcat, Inc. (NASDAQ:TRNS - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 4,879 shares of the scientific and technical instruments company's stock, valued at approximately $519,000. Hsbc Holdings PLC owned 0.05% of Transcat as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Champlain Investment Partners LLC grew its stake in shares of Transcat by 35.7% in the fourth quarter. Champlain Investment Partners LLC now owns 555,650 shares of the scientific and technical instruments company's stock worth $58,754,000 after purchasing an additional 146,150 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Transcat by 1,692.4% in the fourth quarter. Bessemer Group Inc. now owns 109,608 shares of the scientific and technical instruments company's stock worth $11,590,000 after acquiring an additional 103,493 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in Transcat in the fourth quarter worth about $9,460,000. First Trust Advisors LP boosted its stake in Transcat by 133.4% during the 4th quarter. First Trust Advisors LP now owns 153,196 shares of the scientific and technical instruments company's stock valued at $16,199,000 after purchasing an additional 87,568 shares during the last quarter. Finally, ACK Asset Management LLC purchased a new stake in Transcat in the fourth quarter worth approximately $4,758,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Transcat Trading Down 1.2 %

Shares of NASDAQ:TRNS traded down $0.94 during trading on Friday, hitting $78.41. The company had a trading volume of 86,198 shares, compared to its average volume of 76,633. The stock has a market cap of $729.92 million, a price-to-earnings ratio of 42.38 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. The company has a fifty day simple moving average of $76.85 and a two-hundred day simple moving average of $91.27. Transcat, Inc. has a one year low of $67.56 and a one year high of $147.12.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TRNS. Northland Securities reiterated a "market perform" rating and set a $85.00 price objective (down previously from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. HC Wainwright dropped their target price on shares of Transcat from $126.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com downgraded Transcat from a "hold" rating to a "sell" rating in a research report on Wednesday, February 5th. Finally, Oppenheimer cut shares of Transcat from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $111.50.

Transcat Profile

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.