Team (NYSE:TISI) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Team, Inc. (NYSE:TISI) has seen its stock price rise above its 200-day moving average, with shares trading at $18.39 after hitting a high of $19.13 during trading.
• Wall Street analysts have downgraded Team from a "strong-buy" to a "hold" rating, coinciding with the company reporting negative earnings per share.
• Recent insider activity includes a significant sale of shares by Director Evan S. Lederman and an increase in share acquisition by major shareholder Corre Partners Management, signaling mixed confidence from insiders.

Team, Inc. (NYSE:TISI - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.51 and traded as high as $19.13. Team shares last traded at $18.39, with a volume of 10,176 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Team from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd.

Team Trading Down 1.4%

The stock has a market cap of $87.06 million, a PE ratio of -1.66 and a beta of 1.86. The firm has a 50-day simple moving average of $18.07 and a 200-day simple moving average of $18.57. The company has a quick ratio of 1.72, a current ratio of 1.97 and a debt-to-equity ratio of 183.33.

Team (NYSE:TISI - Get Free Report) last posted its earnings results on Tuesday, August 12th. The business services provider reported ($0.20) earnings per share (EPS) for the quarter. The company had revenue of $248.03 million for the quarter. Team had a negative return on equity of 753.94% and a negative net margin of 6.01%.

Insider Buying and Selling at Team

In related news, Director Evan S. Lederman sold 1,650 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $18.04, for a total value of $29,766.00. Following the sale, the director owned 5,878 shares in the company, valued at approximately $106,039.12. This trade represents a 21.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Corre Partners Management, Llc acquired 3,640 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was acquired at an average price of $19.28 per share, for a total transaction of $70,179.20. Following the transaction, the insider directly owned 1,586,368 shares of the company's stock, valued at $30,585,175.04. This represents a 0.23% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 27,776 shares of company stock worth $525,907. Company insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Team

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Team by 11,511.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,974 shares of the business services provider's stock worth $25,000 after buying an additional 1,957 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Team in the fourth quarter worth $140,000. Northern Trust Corp raised its position in shares of Team by 52.6% in the fourth quarter. Northern Trust Corp now owns 35,966 shares of the business services provider's stock worth $456,000 after buying an additional 12,400 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Team by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 44,471 shares of the business services provider's stock worth $564,000 after buying an additional 2,033 shares in the last quarter. Finally, 22NW LP purchased a new stake in shares of Team in the first quarter worth $589,000. Hedge funds and other institutional investors own 46.57% of the company's stock.

Team Company Profile

Team, Inc, together with its subsidiaries, provides a suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services in the United States, Canada, Europe, and internationally. It operates through Inspection and Heat Treating (IHT) and Mechanical Services (MS) segments.