Tuesday Morning Co. (NASDAQ:TUES) shares shot up 6.5% on Thursday . The company traded as high as $1.65 and last traded at $1.47, 601,262 shares were traded during trading. An increase of 60% from the average session volume of 376,164 shares. The stock had previously closed at $1.38.
A number of research firms have recently weighed in on TUES. Lake Street Capital began coverage on Tuesday Morning in a report on Friday, June 7th. They set a “buy” rating and a $4.00 target price for the company. Zacks Investment Research upgraded Tuesday Morning from a “sell” rating to a “hold” rating in a research report on Friday, July 5th. Finally, ValuEngine upgraded Tuesday Morning from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
The company has a debt-to-equity ratio of 0.19, a current ratio of 2.00 and a quick ratio of 0.16. The company has a market cap of $63.99 million, a P/E ratio of 2.94 and a beta of 1.73. The stock has a 50-day moving average of $1.59 and a 200 day moving average of $1.92.
In related news, CEO Steven R. Becker purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $1.62 per share, for a total transaction of $40,500.00. Following the completion of the transaction, the chief executive officer now owns 1,611,295 shares of the company’s stock, valued at $2,610,297.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven R. Becker purchased 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $1.50 per share, for a total transaction of $45,000.00. Following the transaction, the chief executive officer now directly owns 1,640,325 shares of the company’s stock, valued at approximately $2,460,487.50. The disclosure for this purchase can be found here. Insiders purchased 74,030 shares of company stock worth $114,235 in the last 90 days. 7.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Menta Capital LLC bought a new position in Tuesday Morning in the second quarter valued at about $28,000. Relative Value Partners Group LLC bought a new position in Tuesday Morning in the first quarter valued at about $43,000. Algert Global LLC grew its position in Tuesday Morning by 111.2% in the second quarter. Algert Global LLC now owns 21,990 shares of the company’s stock valued at $37,000 after acquiring an additional 11,580 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tuesday Morning in the first quarter valued at about $112,000. Finally, KBC Group NV grew its position in Tuesday Morning by 502.1% in the second quarter. KBC Group NV now owns 86,600 shares of the company’s stock valued at $146,000 after acquiring an additional 72,217 shares during the last quarter. Hedge funds and other institutional investors own 65.18% of the company’s stock.
About Tuesday Morning (NASDAQ:TUES)
Tuesday Morning Corporation operates as an off-price retailer in the United States. The company offers various products, such as upscale home textiles, home furnishings, housewares, gourmet food products, toys, and seasonal décor products. As of September 30, 2018, it operated approximately 719 stores in 40 states.
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