King Luther Capital Management Corp Sells 75,860 Shares of Team, Inc. (NYSE:TISI)

King Luther Capital Management Corp lowered its stake in shares of Team, Inc. (NYSE:TISI) by 42.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,355 shares of the business services provider’s stock after selling 75,860 shares during the period. King Luther Capital Management Corp owned 0.34% of Team worth $1,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in TISI. Arizona State Retirement System lifted its stake in Team by 0.6% in the second quarter. Arizona State Retirement System now owns 15,500 shares of the business services provider’s stock worth $363,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Team by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the business services provider’s stock valued at $284,000 after buying an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Team by 4.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,960 shares of the business services provider’s stock valued at $163,000 after buying an additional 300 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Team by 1.9% during the second quarter. Texas Permanent School Fund now owns 21,768 shares of the business services provider’s stock valued at $510,000 after buying an additional 412 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Team by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 22,673 shares of the business services provider’s stock valued at $531,000 after buying an additional 459 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

TISI has been the topic of several recent analyst reports. BidaskClub downgraded shares of Team from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Johnson Rice upgraded shares of Team from a “hold” rating to an “accumulate” rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Team from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.50.

Shares of Team, Inc. (NYSE TISI) traded up $1.00 during mid-day trading on Monday, reaching $14.65. The company’s stock had a trading volume of 1,574,600 shares, compared to its average volume of 492,941. Team, Inc. has a 12 month low of $10.45 and a 12 month high of $39.70. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.32 and a current ratio of 2.68.

In other Team news, insider Greg L. Boane acquired 2,890 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $13.78 per share, with a total value of $39,824.20. Following the transaction, the insider now owns 8,447 shares of the company’s stock, valued at $116,399.66. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.10% of the stock is owned by company insiders.

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About Team

Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.

Institutional Ownership by Quarter for Team (NYSE:TISI)

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