Telos Co.’s Lock-Up Period To Expire on May 18th (NASDAQ:TLS)

Telos’ (NASDAQ:TLS) lock-up period is set to expire on Tuesday, May 18th. Telos had issued 14,968,859 shares in its initial public offering on November 19th. The total size of the offering was $254,470,603 based on an initial share price of $17.00. After the expiration of Telos’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Telos from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, May 6th. Wedbush raised their price objective on Telos from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, April 1st. BMO Capital Markets raised their target price on Telos from $24.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, March 26th. B. Riley raised their target price on Telos from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, March 26th. Finally, Northland Securities raised their target price on Telos from $33.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, March 26th. Eight research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $41.13.

Telos stock opened at $34.64 on Tuesday. The firm’s 50 day moving average price is $34.09. Telos has a fifty-two week low of $18.08 and a fifty-two week high of $41.84.

Telos (NASDAQ:TLS) last posted its quarterly earnings data on Thursday, March 25th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.17. The firm had revenue of $44.90 million for the quarter, compared to the consensus estimate of $44.65 million. On average, equities research analysts anticipate that Telos will post -0.12 earnings per share for the current year.

In other news, CFO Michele Nakazawa sold 303,198 shares of Telos stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $33.00, for a total transaction of $10,005,534.00. Following the completion of the transaction, the chief financial officer now directly owns 86,179 shares in the company, valued at $2,843,907. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John B. Wood sold 963,154 shares of Telos stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $33.00, for a total transaction of $31,784,082.00. Following the transaction, the chief executive officer now owns 3,695,563 shares of the company’s stock, valued at $121,953,579. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,046,628 shares of company stock worth $100,538,724.

Several hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its holdings in shares of Telos by 0.4% during the first quarter. Fred Alger Management LLC now owns 339,964 shares of the company’s stock valued at $12,891,000 after purchasing an additional 1,434 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Telos by 67.5% during the first quarter. Royal Bank of Canada now owns 3,350 shares of the company’s stock valued at $127,000 after purchasing an additional 1,350 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Telos by 169.0% during the first quarter. Captrust Financial Advisors now owns 955 shares of the company’s stock valued at $36,000 after purchasing an additional 600 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Telos during the first quarter valued at approximately $5,172,000. Finally, Atom Investors LP purchased a new position in shares of Telos during the first quarter valued at approximately $1,250,000.

About Telos

Telos Corporation, together with its subsidiaries, provides information technology (IT) solutions and services worldwide. It provides Xacta, a premier platform for enterprise cyber risk management and security compliance automation solutions to large commercial and government enterprises; and Telos Ghost, a solution to eliminate cyber-attack surfaces by obfuscating and encrypting data, masking user identity and location, and hiding network resources, as well as provides security and privacy for intelligence gathering, cyber threat protection, securing critical infrastructure, and protecting communications and applications.

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