Polar Asset Management Partners Inc. Takes Position in TPI Composites Inc (NASDAQ:TPIC)

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Polar Asset Management Partners Inc. acquired a new stake in shares of TPI Composites Inc (NASDAQ:TPIC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 167,000 shares of the industrial products company’s stock, valued at approximately $4,128,000. Polar Asset Management Partners Inc. owned approximately 0.48% of TPI Composites as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its position in TPI Composites by 4,759.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,110 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 3,046 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in TPI Composites by 28.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 755,252 shares of the industrial products company’s stock valued at $18,564,000 after acquiring an additional 169,528 shares during the last quarter. Schroder Investment Management Group lifted its position in TPI Composites by 62.1% during the second quarter. Schroder Investment Management Group now owns 328,301 shares of the industrial products company’s stock valued at $8,116,000 after acquiring an additional 125,833 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in TPI Composites by 9.9% during the second quarter. Rice Hall James & Associates LLC now owns 100,803 shares of the industrial products company’s stock valued at $2,492,000 after acquiring an additional 9,095 shares during the last quarter. Finally, Triodos Investment Management BV purchased a new stake in TPI Composites during the second quarter valued at approximately $4,944,000. Hedge funds and other institutional investors own 86.88% of the company’s stock.

A number of equities research analysts recently commented on TPIC shares. ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research report on Tuesday. JMP Securities decreased their target price on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating for the company in a research report on Tuesday, September 10th. BidaskClub raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. Canaccord Genuity decreased their target price on shares of TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Raymond James raised shares of TPI Composites from an “outperform” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. TPI Composites has a consensus rating of “Buy” and a consensus price target of $31.50.

In other TPI Composites news, President William E. Siwek bought 2,823 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $17.73 per share, for a total transaction of $50,051.79. Following the completion of the transaction, the president now directly owns 67,676 shares of the company’s stock, valued at approximately $1,199,895.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.30% of the company’s stock.

Shares of NASDAQ:TPIC traded down $0.13 on Thursday, hitting $19.16. 18,598 shares of the company were exchanged, compared to its average volume of 533,556. TPI Composites Inc has a 1-year low of $16.80 and a 1-year high of $32.74. The stock’s 50 day moving average price is $19.31 and its 200 day moving average price is $24.58. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $659.84 million, a P/E ratio of 240.88 and a beta of 1.71.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.33. The business had revenue of $330.77 million during the quarter, compared to the consensus estimate of $330.90 million. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. The business’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) earnings per share. On average, equities analysts predict that TPI Composites Inc will post 0.03 EPS for the current fiscal year.

TPI Composites Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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