Tecnoglass (NYSE:TGLS) Major Shareholder Buys $4,393,420.00 in Stock

Key Points

• Holding Corp Energy bought a total of 306,666 Tecnoglass shares across March 9–11 for about $13.14M (107,000 @ $41.06 on Mar 9; 107,600 @ $43.41 on Mar 10; 92,066 @ $44.24 on Mar 11), and after the Mar 9 purchase owned 20,317,090 shares (~$834.2M), a 0.53% increase in its stake.
• Tecnoglass shares traded up ~5% to $44.73; the company has a market cap of about $2.0B and a P/E of 13.08, but last quarter missed EPS estimates ($0.63 vs. $0.84) while revenue rose 3% to $245.3M.
• Analysts are mixed—two Buy, one Hold and one Sell—giving a consensus rating of Hold with an average target price of $67.50.

Tecnoglass Inc. (NYSE:TGLS - Get Free Report) major shareholder Holding Corp Energy acquired 107,000 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average cost of $41.06 per share, for a total transaction of $4,393,420.00. Following the purchase, the insider owned 20,317,090 shares of the company's stock, valued at approximately $834,219,715.40. The trade was a 0.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Holding Corp Energy also recently made the following trade(s):

• On Wednesday, March 11th, Holding Corp Energy acquired 92,066 shares of Tecnoglass stock. The shares were bought at an average price of $44.24 per share, with a total value of $4,072,999.84.
• On Tuesday, March 10th, Holding Corp Energy bought 107,600 shares of Tecnoglass stock. The stock was purchased at an average cost of $43.41 per share, with a total value of $4,670,916.00.

Tecnoglass Trading Up 5.0%

NYSE:TGLS traded up $2.11 on Wednesday, reaching $44.73. The stock had a trading volume of 458,060 shares, compared to its average volume of 390,742. Tecnoglass Inc. has a 12-month low of $40.09 and a 12-month high of $90.34. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.54 and a beta of 1.72. The firm's fifty day moving average is $50.09 and its two-hundred day moving average is $56.02. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.25.

Tecnoglass (NYSE:TGLS - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.21). The firm had revenue of $245.30 million for the quarter. Tecnoglass had a return on equity of 23.05% and a net margin of 16.22%.Tecnoglass's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS.

Wall Street Analysts Forecast Growth

TGLS has been the subject of several analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Tecnoglass in a report on Monday, December 22nd. DA Davidson lowered their price objective on Tecnoglass from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 2nd. Zacks Research downgraded Tecnoglass from a "hold" rating to a "strong sell" rating in a research report on Monday, March 2nd. Finally, B. Riley Financial dropped their target price on Tecnoglass from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $67.50.

Institutional Investors Weigh In On Tecnoglass

A number of institutional investors have recently bought and sold shares of the stock. Castleark Management LLC acquired a new position in shares of Tecnoglass during the 2nd quarter valued at $3,060,000. American Century Companies Inc. increased its holdings in Tecnoglass by 14.3% in the 2nd quarter. American Century Companies Inc. now owns 932,926 shares of the company's stock valued at $72,171,000 after purchasing an additional 116,760 shares in the last quarter. Citigroup Inc. increased its holdings in Tecnoglass by 445.3% in the 3rd quarter. Citigroup Inc. now owns 526,061 shares of the company's stock valued at $35,199,000 after purchasing an additional 429,590 shares in the last quarter. CenterBook Partners LP purchased a new position in Tecnoglass in the second quarter valued at about $2,777,000. Finally, Geode Capital Management LLC lifted its stake in shares of Tecnoglass by 5.5% during the second quarter. Geode Capital Management LLC now owns 557,729 shares of the company's stock worth $43,154,000 after purchasing an additional 29,281 shares in the last quarter. 37.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tecnoglass

Tecnoglass, Inc is a vertically integrated designer, manufacturer and distributor of architectural glass, windows and aluminum products for the construction industry. The company's product portfolio includes tempered, laminated and insulated glass units, high‐performance aluminum windows, curtainwall systems and storefront solutions tailored to commercial, residential and institutional projects.

Established in 1994 as a family‐run enterprise in Barranquilla, Colombia, Tecnoglass has grown through significant investments in automated production lines, research and development, and international quality certifications.

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