Insider Buying: TCP International Holdings major shareholder Buys 10,000 Shares of Stock (TCPI)
TCP International Holdings (NASDAQ:TCPI) major shareholder Zhaoling Yan purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $6.63 per share, with a total value of $66,300.00. Following the completion of the purchase, the insider now directly owns 4,757,843 shares in the company, valued at approximately $31,544,499. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
TCP International Holdings (NASDAQ:TCPI) opened at 6.70 on Wednesday. TCP International Holdings has a 52 week low of $6.20 and a 52 week high of $11.40. The stock’s 50-day moving average is $9.18 and its 200-day moving average is $9.26. The company has a market cap of $185.6 million and a P/E ratio of 16.11.
TCP International Holdings (NASDAQ:TCPI) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $112.46 million for the quarter, compared to the consensus estimate of $105.57 million. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts predict that TCP International Holdings will post $0.67 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on TCPI shares. Analysts at Canaccord Genuity initiated coverage on shares of TCP International Holdings in a research note on Monday, July 21st. They set a “buy” rating and a $15.00 price target on the stock. Separately, analysts at Cowen and Company initiated coverage on shares of TCP International Holdings in a research note on Monday, July 21st. They set an “outperform” rating and a $18.00 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of TCP International Holdings in a research note on Monday, July 21st. They set a “buy” rating and a $15.00 price target on the stock.
TCP International Holdings Ltd. (NASDAQ:TCPI) is a global provider of energy efficient light-emitting diode (LED) and compact fluorescent lamp (CFL) lighting technologies.
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