Sanctuary Advisors LLC Decreases Stock Position in TPI Composites, Inc. (NASDAQ:TPIC)

Sanctuary Advisors LLC decreased its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 24.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,093 shares of the industrial products company’s stock after selling 88,005 shares during the period. Sanctuary Advisors LLC owned approximately 0.56% of TPI Composites worth $1,220,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of TPI Composites during the 2nd quarter valued at about $44,000. Quantinno Capital Management LP purchased a new stake in TPI Composites during the third quarter valued at approximately $57,000. Intech Investment Management LLC bought a new stake in shares of TPI Composites in the 3rd quarter valued at approximately $65,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TPI Composites in the 3rd quarter worth approximately $88,000. Finally, Quantbot Technologies LP increased its position in shares of TPI Composites by 24.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 5,653 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TPIC has been the subject of a number of analyst reports. Bank of America lowered their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target for the company. Morgan Stanley reissued an “underweight” rating and issued a $2.00 price objective (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.58.

TPI Composites Stock Performance

Shares of NASDAQ:TPIC opened at $2.40 on Friday. The firm has a market cap of $114.15 million, a PE ratio of -0.64 and a beta of 1.82. The firm’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $3.65. TPI Composites, Inc. has a one year low of $1.10 and a one year high of $5.75.

TPI Composites Company Profile

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.