Envestnet Asset Management Inc. Buys 85,621 Shares of Janus International Group, Inc. (NYSE:JBI)

Key Points

• Envestnet Asset Management Inc. increased its stake in Janus International Group by 70.4% in Q1, now holding 207,265 shares valued at approximately $1.49 million.
• FMR LLC, Vanguard, and JPMorgan Chase & Co. also significantly boosted their holdings in Janus International Group, with FMR LLC now owning over 14 million shares valued at about $106.9 million.
• Janus International Group has authorized a share buyback program for up to $75 million of its stock, indicating management believes the shares are undervalued.

Envestnet Asset Management Inc. grew its position in Janus International Group, Inc. (NYSE:JBI - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,265 shares of the company's stock after purchasing an additional 85,621 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Janus International Group worth $1,492,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. grew its position in Janus International Group by 109.3% during the fourth quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock valued at $35,000 after buying an additional 2,506 shares during the period. Tower Research Capital LLC TRC boosted its position in Janus International Group by 42.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock worth $38,000 after purchasing an additional 1,544 shares during the period. Group One Trading LLC boosted its position in Janus International Group by 9,000.0% during the fourth quarter. Group One Trading LLC now owns 9,100 shares of the company's stock worth $67,000 after purchasing an additional 9,000 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Janus International Group during the first quarter worth about $72,000. Finally, Wexford Capital LP bought a new position in Janus International Group during the fourth quarter worth about $95,000. Hedge funds and other institutional investors own 88.78% of the company's stock.

Analyst Ratings Changes

Separately, KeyCorp increased their target price on shares of Janus International Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.00.

Janus International Group Price Performance

Shares of Janus International Group stock traded down $0.02 on Friday, reaching $8.55. The stock had a trading volume of 939,762 shares, compared to its average volume of 723,072. Janus International Group, Inc. has a 1 year low of $5.99 and a 1 year high of $13.70. The company has a market cap of $1.20 billion, a P/E ratio of 24.43 and a beta of 1.25. The company has a current ratio of 2.59, a quick ratio of 2.21 and a debt-to-equity ratio of 1.03. The business's 50 day moving average is $8.50 and its two-hundred day moving average is $7.97.

Janus International Group (NYSE:JBI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. Janus International Group had a net margin of 5.49% and a return on equity of 13.38%. The firm had revenue of $210.50 million for the quarter, compared to the consensus estimate of $200.73 million. During the same period in the prior year, the firm posted $0.21 earnings per share. The company's revenue for the quarter was down 17.3% on a year-over-year basis. As a group, research analysts anticipate that Janus International Group, Inc. will post 0.54 EPS for the current year.

Janus International Group announced that its Board of Directors has initiated a share repurchase program on Thursday, May 15th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Janus International Group Profile

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.