Essex Investment Management Co. LLC Cuts Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Essex Investment Management Co. LLC reduced its position in Transcat, Inc. (NASDAQ:TRNSGet Rating) by 18.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,315 shares of the scientific and technical instruments company’s stock after selling 6,065 shares during the quarter. Essex Investment Management Co. LLC owned 0.36% of Transcat worth $2,525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TRNS. Marshall Wace North America L.P. lifted its stake in shares of Transcat by 157.5% in the 1st quarter. Marshall Wace North America L.P. now owns 1,545 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 945 shares during the last quarter. Royal Bank of Canada raised its position in Transcat by 30.4% during the 3rd quarter. Royal Bank of Canada now owns 631 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 147 shares during the last quarter. Covestor Ltd bought a new position in Transcat during the 4th quarter valued at approximately $44,000. Denali Advisors LLC bought a new position in Transcat during the 4th quarter valued at approximately $46,000. Finally, Citigroup Inc. raised its position in Transcat by 140.1% during the 3rd quarter. Citigroup Inc. now owns 809 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 75.11% of the company’s stock.

Shares of Transcat stock traded up $0.37 during midday trading on Tuesday, hitting $68.59. The company had a trading volume of 24 shares, compared to its average volume of 33,133. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.77 and a current ratio of 2.34. The stock has a market capitalization of $515.80 million, a P/E ratio of 44.88 and a beta of 0.82. The company has a 50 day moving average of $76.07 and a 200 day moving average of $83.20. Transcat, Inc. has a 52-week low of $47.05 and a 52-week high of $101.05.

In related news, CEO Lee D. Rudow sold 5,210 shares of the company’s stock in a transaction that occurred on Saturday, March 26th. The stock was sold at an average price of $74.21, for a total value of $386,634.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

Several brokerages have recently issued reports on TRNS. Zacks Investment Research lowered Transcat from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 5th. StockNews.com began coverage on Transcat in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $81.00.

Transcat Company Profile (Get Rating)

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.

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Institutional Ownership by Quarter for Transcat (NASDAQ:TRNS)

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