SG Americas Securities LLC Takes $137,000 Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

SG Americas Securities LLC purchased a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 23,591 shares of the company’s stock, valued at approximately $137,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMCI. GAMMA Investing LLC grew its position in Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after purchasing an additional 4,508 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Treace Medical Concepts by 34,240.7% in the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after buying an additional 9,245 shares during the period. CWM LLC grew its holdings in shares of Treace Medical Concepts by 208.7% during the second quarter. CWM LLC now owns 10,097 shares of the company’s stock valued at $67,000 after buying an additional 6,826 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Treace Medical Concepts by 59.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock valued at $111,000 after buying an additional 6,227 shares during the period. Finally, RiverPark Advisors LLC lifted its stake in Treace Medical Concepts by 763.9% in the 1st quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock worth $117,000 after acquiring an additional 7,952 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Stock Down 4.9 %

Shares of TMCI stock opened at $4.69 on Friday. The company has a market capitalization of $291.67 million, a price-to-earnings ratio of -4.60 and a beta of 0.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.93 and a current ratio of 3.86. The stock’s 50 day simple moving average is $5.53 and its 200 day simple moving average is $6.79. Treace Medical Concepts, Inc. has a twelve month low of $3.92 and a twelve month high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The firm had revenue of $44.46 million during the quarter, compared to the consensus estimate of $43.00 million. During the same quarter last year, the business earned ($0.20) EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that Treace Medical Concepts, Inc. will post -0.93 EPS for the current year.

Analyst Upgrades and Downgrades

TMCI has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Truist Financial dropped their price target on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group lifted their price objective on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Treace Medical Concepts currently has an average rating of “Hold” and an average target price of $7.00.

Insider Buying and Selling

In other Treace Medical Concepts news, Director James T. Treace bought 84,000 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $5.96 per share, with a total value of $500,640.00. Following the acquisition, the director now directly owns 1,223,441 shares of the company’s stock, valued at $7,291,708.36. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO John T. Treace acquired 50,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $5.31 per share, for a total transaction of $265,500.00. Following the acquisition, the chief executive officer now owns 6,523,095 shares in the company, valued at $34,637,634.45. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James T. Treace bought 84,000 shares of Treace Medical Concepts stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $5.96 per share, with a total value of $500,640.00. Following the purchase, the director now owns 1,223,441 shares of the company’s stock, valued at $7,291,708.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 219,000 shares of company stock valued at $1,276,140. Insiders own 24.43% of the company’s stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.