Pacific Global Investment Management Co buys $9 Million stake in Team (TISI)

Team (TISI) : Pacific Global Investment Management Co scooped up 2,926 additional shares in Team during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 344,755 shares of Team which is valued at $9 Million.Team makes up approximately 2.08% of Pacific Global Investment Management Co’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies sold out all of its stake in TISI during the most recent quarter. The investment firm sold 109,292 shares of TISI which is valued $2.8 Million.State Board Of Administration Of Florida Retirement System reduced its stake in TISI by selling 1,396 shares or 4.24% in the most recent quarter. The Hedge Fund company now holds 31,516 shares of TISI which is valued at $880,242.Wedbush Securities Inc boosted its stake in TISI in the latest quarter, The investment management firm added 870 additional shares and now holds a total of 9,501 shares of Team which is valued at $265,363. Team makes up approx 0.05% of Wedbush Securities Inc’s portfolio. First Mercantile Trust Co sold out all of its stake in TISI during the most recent quarter. The investment firm sold 13,168 shares of TISI which is valued $378,317.

Team opened for trading at $25.95 and hit $26.56 on the upside on Wednesday, eventually ending the session at $26.48, with a gain of 1.85% or 0.48 points. The heightened volatility saw the trading volume jump to 1,26,189 shares. Company has a market cap of $781 M.

On the company’s financial health, Team reported $0.69 EPS for the quarter, missing the analyst consensus estimate by $ -0.13 based on the information available during the earnings call on Jan 11, 2016. Analyst had a consensus of $0.82. The company had revenue of $280.90 million for the quarter, compared to analysts expectations of $291.89 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

Team Inc. (Team) provides specialty industrial services including inspection and assessment required in maintaining high temperature and high pressure piping systems and vessels that are utilized in the refining petrochemical power pipeline and other heavy industries. The Company conducts its operations in three segments: Inspection and Heat Treating Services (IHT) Group Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group. Its services fall into three different classifications: inspection and assessment services turnaround services and on-stream services. The Company’s industrial services are marketed by its personnel based at its service locations. IHT offers both inspection services and heat treating services which are generally associated with turnaround or project activities. MS offers both on-stream services and turnaround/project related services. Quest Integrity offers integrity management solutions to the energy industry.

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