Investors in Team Inc (NYSE:TISI) may take interest in the latest transactions by Corre Funds, which have recently acquired additional shares in the company. Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP, and Corre Horizon II Fund, LP, all clients of Corre Partners Management, LLC, have collectively purchased 12,857 shares of Team Inc's common stock at a price of $7.1043 per share, totaling over $91,339.
The transaction took place on March 28, 2024, and post-purchase, the funds collectively hold a significant number of shares. Specifically, Corre Opportunities Qualified Master Fund, LP now holds 1,026,832 shares, Corre Horizon Fund, LP has 249,942 shares, and Corre Horizon II Fund, LP owns 265,593 shares of common stock in Team Inc. It's noteworthy that these funds are significant shareholders, each owning more than ten percent of the company's common stock.
The shares are held indirectly by the funds through Corre Partners Management, LLC, which has investment management authority over the assets of the funds. This authority is delegated by Corre Partners Advisors, LLC, the general partner of the funds, with John Barrett and Eric Soderlund as the co-owners and managing members.
The recent acquisition reflects a continued interest and confidence in Team Inc by the Corre Funds. Investors monitoring insider transactions may find this purchase a notable event, as it could signal the funds' long-term commitment to their investment in Team Inc.
InvestingPro Insights
As Team Inc (NYSE:TISI) garners attention with recent share acquisitions by Corre Funds, insights from InvestingPro provide a deeper understanding of the company's financial health and market performance. According to InvestingPro, Team Inc operates with a significant debt burden and may have trouble making interest payments on its debt. These InvestingPro Tips suggest that while Corre Funds see potential in Team Inc, the company's financial obligations could be a cause for investor caution.
InvestingPro Data highlights that Team Inc has a market capitalization of $34.44 million and a negative P/E ratio of -0.45 as of the last twelve months ending Q4 2023, which indicates that the company is not currently profitable. However, the company has seen a revenue growth of 2.67% during the same period, suggesting some positive business momentum. Additionally, Team Inc's stock price has experienced a strong return over the last month, with a 16.48% increase, which may have influenced Corre Funds' decision to increase their stake.
For investors seeking further analysis and additional InvestingPro Tips beyond the significant debt and interest payment concerns, there are 9 more tips available that could provide a comprehensive view of Team Inc's investment profile. To explore these tips and take advantage of real-time metrics and advanced analytic tools, visit InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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