King Luther Capital Management Corp Has $265,000 Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

King Luther Capital Management Corp decreased its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 59.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,000 shares of the industrial products company’s stock after selling 202,000 shares during the quarter. King Luther Capital Management Corp owned 0.29% of TPI Composites worth $265,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new position in shares of TPI Composites in the third quarter valued at approximately $7,854,000. Brightline Capital Management LLC raised its holdings in shares of TPI Composites by 14.3% in the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after purchasing an additional 208,000 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of TPI Composites by 8.2% during the fourth quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 22,005 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in TPI Composites by 433.6% during the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 118,365 shares during the last quarter. Finally, Swedbank AB grew its position in TPI Composites by 210.6% in the 4th quarter. Swedbank AB now owns 131,063 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 88,868 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Price Performance

TPIC opened at $0.97 on Friday. The firm has a market capitalization of $46.20 million, a P/E ratio of -0.19 and a beta of 2.07. TPI Composites, Inc. has a one year low of $0.96 and a one year high of $5.75. The company has a fifty day moving average price of $1.40 and a 200-day moving average price of $2.52.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The business had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. On average, analysts expect that TPI Composites, Inc. will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on TPIC shares. UBS Group dropped their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Roth Mkm reduced their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. Morgan Stanley reissued an “underweight” rating and set a $2.00 target price (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Finally, StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.83.

Insiders Place Their Bets

In other TPI Composites news, major shareholder Construction Taahhut A.S. Dere purchased 80,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the transaction, the insider now directly owns 4,397,232 shares in the company, valued at approximately $6,683,792.64. This represents a 1.85 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 205,000 shares of company stock valued at $307,050 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.