Tandy Leather Factory, Inc. (NASDAQ:TLF) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

Shares of Tandy Leather Factory (NASDAQ TLF) traded down 1.18% during mid-day trading on Friday, reaching $8.35. The company’s stock had a trading volume of 8,281 shares. The firm has a market cap of $77.45 million, a P/E ratio of 12.65 and a beta of 1.01. Tandy Leather Factory has a 12-month low of $6.85 and a 12-month high of $9.05. The firm’s 50-day moving average price is $8.71 and its 200 day moving average price is $8.27.

Tandy Leather Factory (NASDAQ:TLF) last issued its quarterly earnings data on Wednesday, August 2nd. The textile maker reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $19.28 million during the quarter. Tandy Leather Factory had a return on equity of 9.91% and a net margin of 6.47%. On average, analysts expect that Tandy Leather Factory will post $0.81 EPS for the current year.

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In related news, Director Joseph R. Mannes sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $8.75, for a total value of $131,250.00. Following the completion of the transaction, the director now owns 40,265 shares of the company’s stock, valued at approximately $352,318.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James C. Pappas purchased 6,824 shares of Tandy Leather Factory stock in a transaction that occurred on Thursday, June 1st. The stock was acquired at an average cost of $8.43 per share, with a total value of $57,526.32. Following the acquisition, the director now directly owns 1,801 shares in the company, valued at approximately $15,182.43. The disclosure for this purchase can be found here. Insiders own 37.19% of the company’s stock.

A hedge fund recently raised its stake in Tandy Leather Factory stock. Russell Investments Group Ltd. raised its position in Tandy Leather Factory, Inc. (NASDAQ:TLF) by 4.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 49,079 shares of the textile maker’s stock after buying an additional 2,115 shares during the period. Russell Investments Group Ltd. owned approximately 0.53% of Tandy Leather Factory worth $437,000 at the end of the most recent quarter. 51.74% of the stock is owned by hedge funds and other institutional investors.

About Tandy Leather Factory

Tandy Leather Factory, Inc is a retailer and a wholesale distributor of a range of leather and related products. The Company’s products include leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company also manufactures leather lacing and some of its do-it-yourself kits.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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