Tecnoglass Inc. (NASDAQ:TGLS) Stock Position Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in shares of Tecnoglass Inc. (NASDAQ:TGLS – Get Rating) by 24.9% during the third quarter, Holdings Channel reports. The institutional investor owned 215,900 shares of the company’s stock after acquiring an additional 43,100 shares during the period. Renaissance Technologies LLC’s holdings in Tecnoglass were worth $4,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Arbitrage SA bought a new stake in Tecnoglass in the first quarter worth about $29,000. Financial Management Professionals Inc. bought a new stake in shares of Tecnoglass in the 3rd quarter worth approximately $27,000. Tower Research Capital LLC TRC acquired a new stake in Tecnoglass during the third quarter valued at approximately $28,000. Benjamin F. Edwards & Company Inc. bought a new stake in Tecnoglass during the third quarter worth approximately $79,000. Finally, UBS Group AG increased its holdings in shares of Tecnoglass by 104.4% in the third quarter. UBS Group AG now owns 3,758 shares of the company’s stock valued at $79,000 after buying an additional 1,919 shares in the last quarter. 23.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TGLS shares. B. Riley raised their price objective on Tecnoglass from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, February 6th. Raymond James lifted their price target on Tecnoglass from $35.00 to $42.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 28th. StockNews.com lowered shares of Tecnoglass from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 11th. Finally, Robert W. Baird lifted their target price on shares of Tecnoglass from $42.00 to $50.00 in a research report on Friday, March 3rd.

Tecnoglass Trading Down 6.0 %

Shares of TGLS stock opened at $39.46 on Monday. The stock’s fifty day simple moving average is $34.69 and its 200-day simple moving average is $28.24. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.48. Tecnoglass Inc. has a 1-year low of $16.05 and a 1-year high of $43.84.

Insider Buying and Selling at Tecnoglass

In other news, COO Christian T. Daes sold 204,632 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $42.26, for a total value of $8,647,748.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Tecnoglass news, COO Christian T. Daes sold 204,632 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $42.26, for a total value of $8,647,748.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jose M. Daes sold 275,810 shares of Tecnoglass stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $42.26, for a total value of $11,655,730.60. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Tecnoglass Profile

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Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of architectural glass, windows and associated aluminum products for the global commercial and residential construction market. It operates through the following geographical segments: Colombia, United States, Panama, and Other.