Prospector Partners LLC Has $2.64 Million Holdings in Tecnoglass Inc. (NASDAQ:TGLS)

Prospector Partners LLC lessened its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,505 shares of the company's stock after selling 6,795 shares during the period. Prospector Partners LLC owned about 0.08% of Tecnoglass worth $2,644,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in Tecnoglass by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 183,400 shares of the company's stock worth $12,592,000 after acquiring an additional 13,803 shares during the period. Intech Investment Management LLC bought a new position in shares of Tecnoglass in the third quarter worth $509,000. Chesapeake Capital Corp IL acquired a new position in Tecnoglass in the third quarter valued at about $455,000. Impax Asset Management Group plc lifted its position in Tecnoglass by 65.0% during the third quarter. Impax Asset Management Group plc now owns 165,000 shares of the company's stock worth $11,329,000 after purchasing an additional 65,000 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in Tecnoglass by 262.4% in the 3rd quarter. GSA Capital Partners LLP now owns 20,089 shares of the company's stock valued at $1,379,000 after buying an additional 14,545 shares during the period. 37.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 30,520 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total value of $2,222,771.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Holding Corp Energy sold 1,432,120 shares of Tecnoglass stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $73.02, for a total transaction of $104,573,402.40. Following the transaction, the insider now directly owns 23,195,988 shares of the company's stock, valued at $1,693,771,043.76. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Tecnoglass Trading Down 3.0 %

Shares of TGLS stock traded down $2.44 during mid-day trading on Tuesday, reaching $78.94. 255,156 shares of the stock traded hands, compared to its average volume of 368,978. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 24.80 and a beta of 1.86. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 0.20. The stock's fifty day simple moving average is $71.83 and its two-hundred day simple moving average is $60.06. Tecnoglass Inc. has a 1-year low of $33.90 and a 1-year high of $82.68.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.97 by $0.11. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The business had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same period last year, the company earned $0.98 EPS. The firm's revenue was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that Tecnoglass Inc. will post 3.55 EPS for the current fiscal year.

Tecnoglass Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.11 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.56%. Tecnoglass's payout ratio is 13.75%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Tecnoglass from $50.00 to $59.00 and gave the company a "hold" rating in a research note on Friday, August 9th. DA Davidson boosted their price target on Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. B. Riley reaffirmed a "neutral" rating and issued a $72.00 price objective (up from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Robert W. Baird boosted their target price on Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Raymond James downgraded shares of Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $77.40.

About Tecnoglass

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.