Tecnoglass Inc. (NASDAQ:TGLS) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC raised its position in Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 262.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,894 shares of the company's stock after purchasing an additional 35,406 shares during the period. Verition Fund Management LLC owned 0.10% of Tecnoglass worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. increased its holdings in shares of Tecnoglass by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,066 shares of the company's stock valued at $355,000 after acquiring an additional 220 shares during the period. X Square Capital LLC raised its holdings in shares of Tecnoglass by 5.7% in the second quarter. X Square Capital LLC now owns 4,363 shares of the company's stock valued at $219,000 after buying an additional 237 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Tecnoglass by 3.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 9,596 shares of the company's stock worth $659,000 after buying an additional 287 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Tecnoglass by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,681 shares of the company's stock valued at $687,000 after acquiring an additional 292 shares during the period. Finally, Signaturefd LLC raised its stake in Tecnoglass by 4,735.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the company's stock valued at $46,000 after acquiring an additional 663 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TGLS shares. Sidoti downgraded shares of Tecnoglass from a "buy" rating to a "neutral" rating and set a $78.00 price objective for the company. in a research report on Tuesday, October 22nd. Raymond James cut Tecnoglass from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 22nd. DA Davidson upped their price target on shares of Tecnoglass from $65.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. B. Riley reiterated a "neutral" rating and issued a $72.00 price objective (up previously from $69.00) on shares of Tecnoglass in a research note on Thursday, October 10th. Finally, Robert W. Baird upped their target price on shares of Tecnoglass from $85.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Tecnoglass has a consensus rating of "Hold" and an average target price of $77.40.

Insider Buying and Selling at Tecnoglass

In other news, major shareholder Holding Corp Energy sold 1,432,120 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were 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 approximately $1,693,771,043.76. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julio A. Torres sold 30,520 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $72.83, for a total transaction of $2,222,771.60. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Tecnoglass Trading Up 1.3 %

Shares of NASDAQ TGLS traded up $1.09 during midday trading on Thursday, reaching $82.82. 107,306 shares of the stock were exchanged, compared to its average volume of 364,469. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $3.89 billion, a P/E ratio of 24.07 and a beta of 1.89. The stock has a 50 day moving average price of $73.64 and a 200-day moving average price of $61.30. Tecnoglass Inc. has a 52-week low of $37.58 and a 52-week high of $83.75.

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

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.