Victory Capital Management Inc. Sells 10,612 Shares of Transcat, Inc. (NASDAQ:TRNS)

Victory Capital Management Inc. reduced its stake in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,760 shares of the scientific and technical instruments company's stock after selling 10,612 shares during the quarter. Victory Capital Management Inc. owned 0.43% of Transcat worth $4,128,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRNS. State Board of Administration of Florida Retirement System acquired a new stake in Transcat in the third quarter valued at approximately $207,000. Arizona State Retirement System acquired a new stake in Transcat during the 3rd quarter valued at $213,000. Quantbot Technologies LP increased its stake in Transcat by 118.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,370 shares of the scientific and technical instruments company's stock worth $232,000 after buying an additional 1,284 shares during the period. Diversified Trust Co lifted its holdings in Transcat by 4.3% in the 4th quarter. Diversified Trust Co now owns 2,435 shares of the scientific and technical instruments company's stock worth $266,000 after buying an additional 100 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Transcat by 31.1% in the 3rd quarter. Principal Financial Group Inc. now owns 3,084 shares of the scientific and technical instruments company's stock valued at $302,000 after buying an additional 731 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lee D. Rudow sold 2,373 shares of the business's stock in a transaction dated Saturday, March 30th. The shares were sold at an average price of $111.43, for a total transaction of $264,423.39. Following the completion of the sale, the chief executive officer now owns 103,688 shares of the company's stock, valued at approximately $11,553,953.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.20% of the company's stock.

Transcat Stock Performance

Transcat stock traded up $1.10 during mid-day trading on Thursday, reaching $121.25. The company's stock had a trading volume of 27,835 shares, compared to its average volume of 37,654. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 93.27 and a beta of 0.61. Transcat, Inc. has a twelve month low of $81.26 and a twelve month high of $122.12. The business has a 50 day moving average price of $111.02 and a 200-day moving average price of $104.51. The company has a current ratio of 3.37, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TRNS shares. Oppenheimer reiterated an "outperform" rating and issued a $125.00 price target (up previously from $120.00) on shares of Transcat in a research note on Thursday, April 18th. TheStreet upgraded Transcat from a "c+" rating to a "b" rating in a research note on Wednesday, January 31st. Finally, HC Wainwright reissued a "buy" rating and set a $124.00 price target on shares of Transcat in a research report on Tuesday, April 16th.

About Transcat

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.