VELA Investment Management LLC Purchases 76,257 Shares of Janus International Group, Inc. (NYSE:JBI)

VELA Investment Management LLC boosted its stake in Janus International Group, Inc. (NYSE:JBI - Free Report) by 48.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234,288 shares of the company's stock after buying an additional 76,257 shares during the quarter. VELA Investment Management LLC owned approximately 0.17% of Janus International Group worth $1,687,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of JBI. Principal Financial Group Inc. grew its holdings in shares of Janus International Group by 1.1% in the first quarter. Principal Financial Group Inc. now owns 212,713 shares of the company's stock valued at $1,532,000 after acquiring an additional 2,338 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Janus International Group in the first quarter worth $149,000. Yorktown Management & Research Co Inc bought a new position in Janus International Group in the 1st quarter valued at $205,000. Janney Montgomery Scott LLC bought a new position in Janus International Group in the 1st quarter valued at $355,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Janus International Group during the 1st quarter valued at $228,000. 88.78% of the stock is currently owned by institutional investors.

Janus International Group Trading Up 0.1%

NYSE JBI traded up $0.01 on Friday, hitting $8.99. The company's stock had a trading volume of 516,221 shares, compared to its average volume of 1,886,432. The company's 50-day simple moving average is $8.11 and its 200 day simple moving average is $7.77. Janus International Group, Inc. has a 52-week low of $5.99 and a 52-week high of $15.24. The firm has a market cap of $1.26 billion, a P/E ratio of 25.69 and a beta of 1.24. The company has a current ratio of 2.59, a quick ratio of 2.21 and a debt-to-equity ratio of 1.03.

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

Janus International Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 15th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to reacquire up to 6.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.00.

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.