Trinseo (NYSE:TSE) Stock Price Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Trinseo PLC's stock price recently rose above its fifty-day moving average, trading at $2.53, while the stock closed at $2.37 with a market cap of $85.02 million.
• The company reported a loss of $2.12 EPS for the last quarter, falling short of the consensus estimate of ($1.49), with revenue also below expectations at $784.30 million.
• Insider activity saw Director Matthew Farrell purchase 48,609 shares at $2.43 each, increasing his ownership in the company by 24.11%.

Trinseo PLC (NYSE:TSE - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.51 and traded as high as $2.53. Trinseo shares last traded at $2.37, with a volume of 166,742 shares traded.

Trinseo Trading Down 4.6%

The firm has a market cap of $85.02 million, a price-to-earnings ratio of -0.22 and a beta of 1.40. The firm has a 50 day moving average price of $2.51 and a 200-day moving average price of $3.04.

Trinseo (NYSE:TSE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported ($2.12) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.63). The business had revenue of $784.30 million during the quarter, compared to the consensus estimate of $966.82 million. As a group, equities analysts expect that Trinseo PLC will post -3.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Matthew Farrell acquired 48,609 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $2.43 per share, for a total transaction of $118,119.87. Following the purchase, the director directly owned 250,225 shares in the company, valued at $608,046.75. This represents a 24.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 100,000 shares of company stock worth $240,028. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trinseo

Several hedge funds have recently modified their holdings of TSE. Police & Firemen s Retirement System of New Jersey purchased a new stake in Trinseo in the 2nd quarter worth about $27,000. May Hill Capital LLC acquired a new position in shares of Trinseo during the 2nd quarter valued at about $33,000. Sugar Maple Asset Management LLC acquired a new position in shares of Trinseo during the 2nd quarter valued at about $41,000. BNP Paribas Financial Markets acquired a new position in shares of Trinseo during the 4th quarter valued at about $74,000. Finally, Intech Investment Management LLC acquired a new stake in Trinseo in the 2nd quarter valued at approximately $48,000. 82.69% of the stock is owned by hedge funds and other institutional investors.

Trinseo Company Profile

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.