JELD-WEN Holding, Inc. (NYSE:JELD) Sees Significant Decrease in Short Interest

JELD-WEN Holding, Inc. (NYSE:JELD) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,680,000 shares, a drop of 11.0% from the January 15th total of 3,010,000 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 772,700 shares, the short-interest ratio is currently 3.5 days.

Insider Buying and Selling at JELD-WEN

In other JELD-WEN news, major shareholder Turtle Creek Asset Management acquired 125,000 shares of JELD-WEN stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $7.90 per share, for a total transaction of $987,500.00. Following the purchase, the insider now directly owns 12,042,190 shares of the company’s stock, valued at $95,133,301. This trade represents a 1.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 310,000 shares of company stock worth $2,463,500. Insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On JELD-WEN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of JELD-WEN during the 3rd quarter valued at about $331,000. Blue Trust Inc. lifted its stake in JELD-WEN by 79.8% during the third quarter. Blue Trust Inc. now owns 2,893 shares of the company’s stock worth $46,000 after purchasing an additional 1,284 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of JELD-WEN by 1,167.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,182,401 shares of the company’s stock worth $34,504,000 after purchasing an additional 2,010,275 shares in the last quarter. MQS Management LLC bought a new position in shares of JELD-WEN during the 3rd quarter valued at about $160,000. Finally, Empowered Funds LLC raised its holdings in shares of JELD-WEN by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 408,487 shares of the company’s stock valued at $6,458,000 after buying an additional 20,770 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

JELD-WEN Price Performance

NYSE:JELD traded down $2.09 during trading hours on Tuesday, hitting $6.71. The stock had a trading volume of 4,665,783 shares, compared to its average volume of 802,404. The firm has a market capitalization of $567.38 million, a price-to-earnings ratio of -3.66 and a beta of 2.17. JELD-WEN has a one year low of $6.60 and a one year high of $21.75. The company has a 50 day simple moving average of $8.91 and a two-hundred day simple moving average of $11.95. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.03 and a quick ratio of 1.33.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on JELD. Barclays reduced their price target on shares of JELD-WEN from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group reduced their target price on shares of JELD-WEN from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada lowered their price target on shares of JELD-WEN from $9.00 to $8.00 and set an “underperform” rating on the stock in a report on Wednesday, December 18th. B. Riley reduced their price objective on JELD-WEN from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, UBS Group reissued a “neutral” rating and issued a $9.00 target price (down from $15.00) on shares of JELD-WEN in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.75.

JELD-WEN Company Profile

JELD-WEN Holding, Inc designs, manufactures, and sells wood, metal, and composite materials doors, windows, and related building products in North America and Europe. The company offers a line of residential interior and exterior door products, including patio doors, and folding or sliding wall systems; non-residential doors; stile and rail doors; and wood, vinyl, and wood composite windows.