QCI Asset Management Inc. NY lessened its position in Transcat, Inc. (NASDAQ:TRNS) by 14.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,054 shares of the scientific and technical instruments company’s stock after selling 3,000 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Transcat were worth $413,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Transcat by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 316,063 shares of the scientific and technical instruments company’s stock valued at $4,946,000 after buying an additional 8,621 shares during the period. UBS Group AG raised its holdings in shares of Transcat by 62.9% in the 1st quarter. UBS Group AG now owns 66,465 shares of the scientific and technical instruments company’s stock valued at $1,040,000 after buying an additional 25,664 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Transcat by 491.7% in the 2nd quarter. Acadian Asset Management LLC now owns 18,485 shares of the scientific and technical instruments company’s stock valued at $350,000 after buying an additional 15,361 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Transcat by 52.4% in the 2nd quarter. Renaissance Technologies LLC now owns 74,981 shares of the scientific and technical instruments company’s stock valued at $1,417,000 after buying an additional 25,784 shares during the period. Finally, Spark Investment Management LLC purchased a new stake in shares of Transcat in the 2nd quarter valued at $219,000. Hedge funds and other institutional investors own 55.17% of the company’s stock.
In related news, Director John T. Smith sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $10.30, for a total transaction of $30,900.00. Following the completion of the transaction, the director now directly owns 42,166 shares of the company’s stock, valued at approximately $434,309.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 10,639 shares of company stock valued at $109,307 over the last three months. 8.80% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on TRNS shares. Singular Research boosted their price objective on Transcat from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 21st. Zacks Investment Research upgraded Transcat from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Saturday, July 28th.
TRNS stock opened at $22.31 on Friday. Transcat, Inc. has a 12-month low of $12.20 and a 12-month high of $25.35. The firm has a market capitalization of $158.40 million, a P/E ratio of 31.42, a PEG ratio of 2.76 and a beta of 0.66. The company has a current ratio of 2.00, a quick ratio of 1.33 and a debt-to-equity ratio of 0.42.
Transcat (NASDAQ:TRNS) last released its earnings results on Wednesday, October 24th. The scientific and technical instruments company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Transcat had a return on equity of 12.45% and a net margin of 4.54%. The firm had revenue of $38.88 million during the quarter, compared to analysts’ expectations of $38.00 million. On average, research analysts expect that Transcat, Inc. will post 1 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This story was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.thelincolnianonline.com/2018/11/10/transcat-inc-trns-shares-sold-by-qci-asset-management-inc-ny.html.
Transcat Company Profile
Transcat, Inc provides calibration and laboratory instrument services in North America and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.
See Also: What is a Reverse Stock Split?
Want to see what other hedge funds are holding TRNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Transcat, Inc. (NASDAQ:TRNS).
Receive News & Ratings for Transcat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transcat and related companies with MarketBeat.com's FREE daily email newsletter.