Pinnacle Associates Ltd. Sells 177,966 Shares of Telos Corporation $TLS

Pinnacle Associates Ltd. reduced its position in shares of Telos Corporation (NASDAQ:TLS) by 8.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,938,272 shares of the company’s stock after selling 177,966 shares during the quarter. Pinnacle Associates Ltd. owned approximately 2.63% of Telos worth $9,885,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Acuitas Investments LLC raised its stake in shares of Telos by 48.0% during the third quarter. Acuitas Investments LLC now owns 771,813 shares of the company’s stock valued at $5,279,000 after acquiring an additional 250,400 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Telos by 391.6% in the third quarter. JPMorgan Chase & Co. now owns 193,081 shares of the company’s stock worth $1,321,000 after purchasing an additional 153,802 shares during the last quarter. Weber Capital Management LLC ADV bought a new stake in shares of Telos in the fourth quarter worth about $9,152,000. Bailard Inc. purchased a new position in shares of Telos during the fourth quarter valued at approximately $63,000. Finally, Strs Ohio increased its holdings in Telos by 33.1% during the fourth quarter. Strs Ohio now owns 18,900 shares of the company’s stock valued at $96,000 after buying an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 62.14% of the company’s stock.

Analyst Upgrades and Downgrades

TLS has been the subject of a number of analyst reports. Wedbush cut their price target on Telos from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday, March 17th. BMO Capital Markets cut their price objective on Telos from $8.00 to $5.00 and set a “market perform” rating on the stock in a research report on Monday, March 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Telos in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Telos has an average rating of “Hold” and a consensus target price of $7.38.

Insiders Place Their Bets

In other Telos news, EVP Edward Hutchinson Jr. Robbins sold 64,527 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $4.02, for a total value of $259,398.54. Following the completion of the transaction, the executive vice president owned 567,278 shares in the company, valued at $2,280,457.56. This represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 105,723 shares of company stock valued at $425,292 over the last three months. 14.90% of the stock is owned by insiders.

Telos Price Performance

TLS stock opened at $4.23 on Friday. The business’s fifty day moving average price is $4.29 and its 200 day moving average price is $5.05. The company has a current ratio of 2.59, a quick ratio of 2.57 and a debt-to-equity ratio of 0.05. Telos Corporation has a 12-month low of $2.37 and a 12-month high of $8.36. The company has a market capitalization of $316.49 million, a PE ratio of -12.09 and a beta of 0.95.

Telos (NASDAQ:TLS) last released its earnings results on Monday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $47.74 million during the quarter, compared to analyst estimates of $44.63 million. Telos had a negative return on equity of 11.95% and a negative net margin of 14.25%. On average, sell-side analysts anticipate that Telos Corporation will post -0.22 EPS for the current year.

Telos Company Profile

Telos Corporation (NASDAQ: TLS) is a provider of cybersecurity, secure communications, and enterprise IT solutions designed to help organizations manage risk, accelerate mission delivery and maintain compliance. The company’s core business activities encompass risk management and compliance automation, secure mobility, zero-trust architecture, cloud security, and identity and access management. Telos serves a diverse customer base that includes U.S. federal agencies, the Department of Defense, intelligence communities and select commercial enterprises.

Among its flagship offerings is the Xacta® platform, which automates assessment and authorization for IT systems and cloud environments, helping clients streamline compliance with NIST, FedRAMP and other frameworks.