Principal Financial Group Inc. lessened its stake in Tile Shop Holdings, Inc. (NASDAQ:TTS) by 59.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 265,472 shares of the company’s stock after selling 396,262 shares during the quarter. Principal Financial Group Inc. owned approximately 0.51% of Tile Shop worth $3,371,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its holdings in shares of Tile Shop by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the company’s stock valued at $279,000 after acquiring an additional 100 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Tile Shop by 1.1% in the second quarter. Texas Permanent School Fund now owns 24,129 shares of the company’s stock valued at $498,000 after acquiring an additional 257 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Tile Shop by 3.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,780 shares of the company’s stock valued at $161,000 after acquiring an additional 260 shares in the last quarter. Bank of Montreal Can boosted its holdings in Tile Shop by 7.7% during the second quarter. Bank of Montreal Can now owns 5,814 shares of the company’s stock worth $120,000 after buying an additional 416 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Tile Shop by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 172,399 shares of the company’s stock worth $3,560,000 after buying an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 66.77% of the company’s stock.
In other Tile Shop news, Director Todd Krasnow acquired 10,000 shares of Tile Shop stock in a transaction dated Thursday, December 14th. The stock was bought at an average cost of $9.01 per share, with a total value of $90,100.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter J. Jacullo III purchased 48,767 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were purchased at an average cost of $8.53 per share, with a total value of $415,982.51. Following the completion of the acquisition, the director now directly owns 490,075 shares in the company, valued at $4,180,339.75. The disclosure for this purchase can be found here. Insiders acquired a total of 328,795 shares of company stock worth $2,794,288 over the last 90 days. Company insiders own 24.30% of the company’s stock.
TTS has been the subject of a number of research reports. TheStreet cut shares of Tile Shop from a “b-” rating to a “c” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Tile Shop from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. BidaskClub downgraded shares of Tile Shop from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Stifel Nicolaus cut their target price on shares of Tile Shop from $15.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, October 4th. Finally, Loop Capital reiterated a “hold” rating and issued a $12.00 target price (down previously from $15.00) on shares of Tile Shop in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Tile Shop has an average rating of “Hold” and a consensus price target of $8.92.
Tile Shop Holdings, Inc. (NASDAQ TTS) traded up $0.20 during trading hours on Tuesday, reaching $9.80. 564,540 shares of the company were exchanged, compared to its average volume of 845,621. Tile Shop Holdings, Inc. has a 1-year low of $8.08 and a 1-year high of $22.40. The company has a quick ratio of 0.39, a current ratio of 1.55 and a debt-to-equity ratio of 0.04. The firm has a market cap of $500.72, a price-to-earnings ratio of 27.22, a PEG ratio of 0.94 and a beta of 1.73.
Tile Shop (NASDAQ:TTS) last posted its quarterly earnings results on Tuesday, October 17th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $84.40 million for the quarter, compared to analyst estimates of $84.05 million. Tile Shop had a net margin of 5.38% and a return on equity of 15.40%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. equities analysts anticipate that Tile Shop Holdings, Inc. will post 0.41 EPS for the current fiscal year.
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About Tile Shop
Tile Shop Holdings, Inc operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers approximately 4,000 products, including ceramic, porcelain, glass, cement, wood look, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.
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