TSS Inc. (OTCMKTS:TSSI), a management consulting services provider, has reported a significant stock sale by Senior Vice President Brennan Kieran. According to recent filings, Kieran sold a total of 87,560 shares of the company's common stock over a three-day period, with transactions totaling approximately $435,306.
The sales occurred on September 11, 12, and 13, with prices ranging from $4.82 to $5.09 per share. On the first day, Kieran sold 27,450 shares at an average price of $4.8229. The following day, 15,110 shares were sold at an average price of $4.8836. The final sale on September 13 was the largest, with 45,000 shares sold at an average price of $5.0917.
The specific prices for these transactions varied, with the shares on the first day being sold at prices from $4.8053 to $4.90, the second day's shares ranging from $4.85 to $4.9182, and the last day's shares going from $5.0264 to $5.20. These price ranges indicate the different prices at which the stock was sold during the course of the day.
After these transactions, Kieran's direct ownership in TSS Inc. stands at 485,320 shares. The sales represent a notable change in the executive's stake in the company, demonstrating a reduction in his position.
Investors and market watchers often scrutinize insider sales for insights into executive sentiment regarding their company's stock. While the reasons behind Kieran's decision to sell a portion of his stake are not disclosed in the filing, such transactions are closely monitored for indications of the company's financial health and future prospects.
For those interested in TSS Inc.'s market activities, the stock is traded under the ticker symbol TSSI on the OTCMKTS.
In other recent news, Technology Support Services (TSS) has reported robust growth in its second quarter 2024 earnings call. The company saw a significant 33% increase in year-over-year revenue, despite a 16% decrease in total revenue. This was primarily due to a substantial increase in net income to $1.4 million, a 345% rise, and a 41% surge in gross profit, driven by a shift to higher-margin services.
TSS is also expanding its strategic partnerships with Verdas, Schneider, and Eaton (NYSE:ETN) to address supply chain challenges. The company has doubled its headcount over the last six months to accommodate growth and has implemented automation to support rapid expansion.
Moreover, TSS is exploring avenues for capacity expansion, expecting growth in rack integration and modular data center businesses. The company is strategically positioned to drive growth in the generative AI market and traditional cloud computing. These are the recent developments that underline TSS's commitment to operational excellence and its strategic positioning to capitalize on the growing demand for AI and high-performance computing infrastructure.
InvestingPro Insights
TSS Inc. (OTCMKTS:TSSI) has shown a dynamic performance in the market as reflected in the InvestingPro data. With a market capitalization of $116.11 million, the company is trading at a high P/E ratio of 57.49, which is slightly above its adjusted P/E ratio for the last twelve months as of Q2 2024, standing at 59.18. This indicates that investors are willing to pay a premium for the company's earnings, possibly due to expectations of future growth.
Despite the high earnings multiple, TSS Inc. shows impressive revenue growth of 52.83% for the last twelve months as of Q2 2024, signaling a robust expansion in its business operations. However, the company's gross profit margin stands at 21.75%, which is a point of concern as per the InvestingPro Tips, indicating that TSS Inc. suffers from weak gross profit margins. This could be an area for potential investors to watch, as it may impact the company's profitability in the long term.
InvestingPro Tips also highlight that TSS Inc. has experienced a strong return over the last year, with a 1-year price total return of 1590.69%, showcasing the company's substantial growth in shareholder value. This is complemented by a robust short-term performance, with a 1-month price total return of 101.56% as of the same period. Such data points could be particularly attractive to momentum investors looking for stocks with a strong upward trend.
For investors seeking more comprehensive analysis, there are additional InvestingPro Tips available for TSS Inc. These tips provide deeper insights into the company's valuation multiples, debt levels, and cash flow yields, all of which are crucial for making informed investment decisions. Interested readers can explore these further at InvestingPro.
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