Insider Selling: TPI Composites Inc (NASDAQ:TPIC) Director Sells $740,656.00 in Stock

TPI Composites Inc (NASDAQ:TPIC) Director Michael Lawrence Derosa sold 27,200 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $27.23, for a total transaction of $740,656.00. Following the sale, the director now directly owns 6,620 shares in the company, valued at $180,262.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Michael Lawrence Derosa also recently made the following trade(s):

  • On Friday, September 21st, Michael Lawrence Derosa sold 34,845 shares of TPI Composites stock. The shares were sold at an average price of $27.93, for a total transaction of $973,220.85.
  • On Wednesday, September 19th, Michael Lawrence Derosa sold 29,420 shares of TPI Composites stock. The shares were sold at an average price of $27.86, for a total transaction of $819,641.20.
  • On Monday, September 17th, Michael Lawrence Derosa sold 41,124 shares of TPI Composites stock. The shares were sold at an average price of $27.35, for a total transaction of $1,124,741.40.
  • On Monday, September 10th, Michael Lawrence Derosa sold 36,500 shares of TPI Composites stock. The shares were sold at an average price of $27.43, for a total transaction of $1,001,195.00.
  • On Thursday, September 6th, Michael Lawrence Derosa sold 36,359 shares of TPI Composites stock. The shares were sold at an average price of $27.48, for a total transaction of $999,145.32.
  • On Tuesday, September 4th, Michael Lawrence Derosa sold 39,400 shares of TPI Composites stock. The shares were sold at an average price of $27.34, for a total transaction of $1,077,196.00.
  • On Friday, August 31st, Michael Lawrence Derosa sold 26,433 shares of TPI Composites stock. The shares were sold at an average price of $27.95, for a total transaction of $738,802.35.
  • On Wednesday, August 29th, Michael Lawrence Derosa sold 21,722 shares of TPI Composites stock. The shares were sold at an average price of $28.47, for a total transaction of $618,425.34.
  • On Monday, August 27th, Michael Lawrence Derosa sold 34,200 shares of TPI Composites stock. The shares were sold at an average price of $28.68, for a total transaction of $980,856.00.
  • On Friday, August 24th, Michael Lawrence Derosa sold 145,682 shares of TPI Composites stock. The shares were sold at an average price of $28.56, for a total transaction of $4,160,677.92.

NASDAQ TPIC traded down $1.19 during trading hours on Friday, reaching $26.61. The company’s stock had a trading volume of 638,830 shares, compared to its average volume of 285,848. The firm has a market cap of $982.48 million, a PE ratio of 21.29 and a beta of -0.89. TPI Composites Inc has a 52 week low of $16.35 and a 52 week high of $32.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.65 and a quick ratio of 1.63.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). The business had revenue of $230.61 million during the quarter, compared to the consensus estimate of $240.29 million. TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. As a group, research analysts anticipate that TPI Composites Inc will post 0.3 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its holdings in TPI Composites by 42.6% during the 2nd quarter. Northern Trust Corp now owns 178,578 shares of the industrial products company’s stock worth $5,221,000 after purchasing an additional 53,360 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in TPI Composites by 19.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 572,712 shares of the industrial products company’s stock worth $16,746,000 after purchasing an additional 92,004 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in TPI Composites during the 2nd quarter worth approximately $214,000. Metropolitan Life Insurance Co. NY bought a new position in TPI Composites during the 2nd quarter worth approximately $162,000. Finally, Hilltop Holdings Inc. bought a new position in TPI Composites during the 2nd quarter worth approximately $266,000. Institutional investors and hedge funds own 51.24% of the company’s stock.

A number of equities research analysts have issued reports on TPIC shares. Craig Hallum increased their price objective on shares of TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Cowen set a $35.00 price objective on shares of TPI Composites and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Canaccord Genuity increased their price objective on shares of TPI Composites from $26.00 to $35.50 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. TheStreet downgraded shares of TPI Composites from a “b-” rating to a “c” rating in a research note on Wednesday, August 22nd. Finally, Morgan Stanley increased their price objective on shares of TPI Composites from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $33.83.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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Insider Buying and Selling by Quarter for TPI Composites (NASDAQ:TPIC)

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