Los Angeles Capital Management LLC Decreases Stake in TPI Composites, Inc. (NASDAQ:TPIC)

Los Angeles Capital Management LLC lowered its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,565 shares of the industrial products company’s stock after selling 15,212 shares during the period. Los Angeles Capital Management LLC’s holdings in TPI Composites were worth $339,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in TPI Composites in the 2nd quarter valued at approximately $1,421,000. Susquehanna Fundamental Investments LLC lifted its stake in TPI Composites by 8.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company’s stock worth $461,000 after purchasing an additional 8,550 shares during the last quarter. Marshall Wace LLP lifted its stake in TPI Composites by 22.5% in the second quarter. Marshall Wace LLP now owns 83,638 shares of the industrial products company’s stock worth $334,000 after purchasing an additional 15,369 shares during the last quarter. Interval Partners LP bought a new stake in TPI Composites in the second quarter worth $235,000. Finally, DRW Securities LLC purchased a new position in shares of TPI Composites in the second quarter valued at about $718,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

TPI Composites Price Performance

Shares of NASDAQ TPIC opened at $2.17 on Monday. The firm has a fifty day moving average price of $3.85 and a 200-day moving average price of $4.10. The stock has a market cap of $103.21 million, a PE ratio of -0.58 and a beta of 1.93. TPI Composites, Inc. has a 1 year low of $1.90 and a 1 year high of $5.75.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TPIC. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler boosted their price target on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research report on Friday. Jefferies Financial Group began coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price objective on the stock. Finally, Bank of America dropped their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.58.

About TPI Composites

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.