In a recent transaction, Corre Partners Management, LLC, a known ten percent owner of TEAM Inc (NYSE:TISI), has increased its stake in the company through a series of stock purchases. On May 21 and 22, Corre Partners Management acquired additional shares of TEAM Inc's common stock, valued at approximately $73,036.
The purchases were made at prices ranging from $7.0031 to $7.1291 per share. Specifically, on May 21, 2024, 6,122 shares were bought at $7.0031 each, and the following day, 4,231 shares were acquired at $7.1291 per share. These transactions have bolstered the ownership, as Corre Partners Management continues to show confidence in the company's value.
TEAM Inc, a miscellaneous repair service provider, has seen its shares being actively traded by Corre Partners Management, which acts as the investment adviser for several funds that hold TEAM Inc stock. The shares acquired are held directly by Corre Opportunities Qualified Master Fund, LP, Corre Horizon Fund, LP, and Corre Horizon II Fund, LP, with the funds being clients of Corre Partners Management.
These transactions are part of the regular investment activities by Corre Partners Management and indicate a continued investment in TEAM Inc's market performance. Investors and market watchers often keep a close eye on such purchases as they may reflect the investment adviser's long-term strategy and outlook on the company's prospects.
For more detailed information on the distribution of ownership among the funds managed by Corre Partners Management following these transactions, interested parties can refer to the footnotes included in Exhibit 99.1 of the SEC filing.
InvestingPro Insights
In light of Corre Partners Management's recent share acquisitions of TEAM Inc (NYSE:TISI), it's worth noting that the company has experienced a strong return over the last year, with a 67.05% increase in the price total return. This performance is a key indicator of investor confidence and may have influenced Corre Partners Management's decision to increase their stake. Despite this, TEAM Inc operates with a significant debt burden and has been not profitable over the last twelve months, as evidenced by its negative P/E ratio of -0.47 and an adjusted P/E ratio of -0.49 for the last twelve months as of Q1 2024.
InvestingPro Tips highlight that while TEAM Inc's liquid assets exceed its short-term obligations, the stock generally trades with high price volatility, which may be a point of consideration for potential investors. Additionally, the company does not pay a dividend to shareholders, which could influence the investment strategies of income-focused investors.
The InvestingPro Data provides further context with a market cap of 32.1M USD and a price/book ratio of 1.24, suggesting that the stock is trading at a somewhat higher value compared to its book value. Revenue growth has been modest at 0.76% over the last twelve months as of Q1 2024.
For those interested in a deeper analysis, InvestingPro offers additional insights and metrics. There are nine more InvestingPro Tips available for TEAM Inc at https://www.investing.com/pro/TISI, which could be particularly beneficial for investors seeking a comprehensive understanding of the company's financial health and market performance. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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