In a recent transaction on August 19, Brennan Kieran, the Senior Vice President of TSS, Inc. (OTCMKTS:TSSI), sold 25,000 shares of the company's stock. The sale was executed at a weighted average price of $3.9892 per share, resulting in a total transaction value of approximately $99,730.
The shares were sold in a series of transactions at prices that ranged from $3.89 to $4.45. Following the sale, Kieran's direct ownership in the company stands at 452,600 shares.
Investors and shareholders can request detailed information about the exact number of shares sold at each price point within the specified range from TSS, Inc. or the Securities and Exchange Commission (SEC) if needed.
TSS, Inc., known for its management consulting services, has its shares traded under the ticker symbol TSSI. The company, which has undergone several name changes over the years, is currently incorporated in Delaware.
The transaction was reported in a Form 4 filing with the SEC, which was signed by Christopher R. Johnson, Attorney-in-Fact, on behalf of Brennan Kieran on August 27, 2024.
In other recent news, Technology Support Services (TSS) revealed significant growth during their second quarter 2024 earnings call. TSS reported a 33% increase in year-over-year revenue, accompanied by substantial improvements in operating income, net income, and adjusted EBITDA. Despite a 16% decrease in total revenue, the company's gross profit rose by 41% due to a shift toward higher-margin services.
TSS's net income saw a remarkable increase of 345% to $1.4 million. The company has also doubled its headcount in the recent past to accommodate growth and has implemented automation to support rapid expansion. Additionally, TSS is strengthening strategic partnerships with companies such as Verdas, Schneider, and Eaton (NYSE:ETN) to address supply chain challenges.
The company is exploring avenues for capacity expansion, anticipating growth in its rack integration and modular data center businesses. As part of their future outlook, TSS is strategically positioned to drive growth in the generative AI market and traditional cloud computing. Despite a decrease in procurement revenue, the company remains focused on building a solid backlog to fuel revenue growth in 2025 and beyond.
InvestingPro Insights
In light of the recent insider transaction at TSS, Inc. (OTCMKTS:TSSI), investors may be interested in the company's current financial health and stock performance. According to InvestingPro data, TSSI has a market capitalization of 109 million USD and is trading at a P/E ratio of 54.61, which may seem high, but it is trading at a low P/E ratio relative to near-term earnings growth. This suggests that investors are expecting higher earnings in the future.
Despite the insider sale, TSSI has experienced a significant return over the last week, with a 1 Week Price Total Return of 8.59%. The stock is also trading near its 52-week high, with a price percentage of 94.26% of the peak. These metrics indicate strong recent performance and investor confidence in the stock's near-term prospects.
Investors should note that TSSI has been trading with high price volatility, which is an important factor to consider when assessing the risk associated with the stock. Those looking for additional insights can find more InvestingPro Tips for TSSI, including analysis on valuation multiples and debt levels, on the InvestingPro platform. There are currently 20 additional InvestingPro Tips available for TSSI, which can provide further guidance for those considering an investment in the company.
Overall, the data provided by InvestingPro offers a nuanced view of TSSI's performance and valuation, which may be helpful for investors making decisions in the context of the recent insider selling activity.
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