JELD-WEN Holding, Inc. (NYSE:JELD) Sees Large Increase in Short Interest

JELD-WEN Holding, Inc. (NYSE:JELD) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 4,910,000 shares, an increase of 63.7% from the February 13th total of 3,000,000 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily volume of 918,200 shares, the days-to-cover ratio is presently 5.3 days.

Insider Activity at JELD-WEN

In other JELD-WEN news, Director David G. Nord bought 20,000 shares of JELD-WEN stock in a transaction on Monday, February 24th. The shares were bought at an average price of $5.96 per share, for a total transaction of $119,200.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $238,400. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Turtle Creek Asset Management acquired 110,000 shares of JELD-WEN stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average price of $7.65 per share, for a total transaction of $841,500.00. Following the completion of the acquisition, the insider now owns 12,259,784 shares in the company, valued at $93,787,347.60. This trade represents a 0.91 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 525,137 shares of company stock valued at $3,719,287. 1.03% of the stock is owned by insiders.

Institutional Investors Weigh In On JELD-WEN

Several institutional investors have recently bought and sold shares of the business. Performa Ltd US LLC increased its position in shares of JELD-WEN by 1,580.0% during the fourth quarter. Performa Ltd US LLC now owns 4,200 shares of the company’s stock worth $34,000 after acquiring an additional 3,950 shares during the last quarter. Quarry LP acquired a new position in JELD-WEN in the fourth quarter worth $46,000. US Bancorp DE grew its position in shares of JELD-WEN by 257.6% during the 4th quarter. US Bancorp DE now owns 9,752 shares of the company’s stock valued at $80,000 after buying an additional 7,025 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in JELD-WEN in the fourth quarter valued at approximately $83,000. Finally, Boothbay Fund Management LLC bought a new position in JELD-WEN during the 4th quarter worth $100,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of JELD-WEN from $11.00 to $7.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. UBS Group cut their price target on JELD-WEN from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Barclays lowered their price objective on JELD-WEN from $9.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Loop Capital cut their target price on JELD-WEN from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada lowered their price target on JELD-WEN from $7.00 to $5.00 and set an “underperform” rating for the company in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.06.

JELD-WEN Stock Performance

NYSE:JELD opened at $6.14 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.33 and a debt-to-equity ratio of 1.64. JELD-WEN has a twelve month low of $5.44 and a twelve month high of $21.75. The company has a market capitalization of $520.55 million, a P/E ratio of -2.75 and a beta of 2.22. The firm has a 50-day moving average price of $7.76 and a two-hundred day moving average price of $10.84.

JELD-WEN (NYSE:JELD) last released its earnings results on Monday, February 17th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.20). The firm had revenue of $895.70 million during the quarter, compared to analysts’ expectations of $860.82 million. JELD-WEN had a positive return on equity of 7.14% and a negative net margin of 5.01%. As a group, research analysts expect that JELD-WEN will post 0.88 earnings per share for the current fiscal year.

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.