Maverick Capital Ltd. Increases Stake in MasterBrand, Inc. $MBC

Key Points

• Maverick Capital Ltd. significantly increased its holdings in MasterBrand, Inc. by 122.4%, now owning 40,293 shares worth $526,000.
• Recent analyst reports have adjusted ratings for MasterBrand, with Wall Street Zen upgrading the stock from a "hold" to a "buy" rating, while Loop Capital lowered its price target from $16.00 to $15.00.
• MasterBrand reported earnings of $0.40 EPS for the last quarter, exceeding expectations, along with revenue of $730.9 million, surpassing forecasts of $683.3 million.

Maverick Capital Ltd. increased its stake in MasterBrand, Inc. (NYSE:MBC - Free Report) by 122.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,293 shares of the company's stock after acquiring an additional 22,179 shares during the period. Maverick Capital Ltd.'s holdings in MasterBrand were worth $526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MBC. Public Employees Retirement System of Ohio lifted its stake in MasterBrand by 36.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company's stock worth $70,000 after purchasing an additional 1,286 shares during the last quarter. Signaturefd LLC boosted its stake in shares of MasterBrand by 213.8% during the 1st quarter. Signaturefd LLC now owns 1,949 shares of the company's stock valued at $25,000 after purchasing an additional 1,328 shares in the last quarter. Contrarian Capital Management L.L.C. raised its stake in MasterBrand by 7.7% in the first quarter. Contrarian Capital Management L.L.C. now owns 28,000 shares of the company's stock worth $366,000 after buying an additional 2,000 shares in the last quarter. EP Wealth Advisors LLC raised its stake in MasterBrand by 15.0% in the fourth quarter. EP Wealth Advisors LLC now owns 15,604 shares of the company's stock worth $228,000 after buying an additional 2,035 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in MasterBrand by 22.5% during the 1st quarter. Cerity Partners LLC now owns 14,171 shares of the company's stock valued at $185,000 after acquiring an additional 2,606 shares during the period. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of MasterBrand from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MasterBrand presently has an average rating of "Hold" and a consensus price target of $15.00.

MasterBrand Stock Performance

Shares of NYSE MBC traded up $0.43 during trading on Friday, reaching $13.49. 2,005,963 shares of the company traded hands, compared to its average volume of 1,556,861. The firm has a 50 day simple moving average of $12.03 and a 200-day simple moving average of $11.89. The company has a quick ratio of 1.12, a current ratio of 1.87 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.71 billion, a PE ratio of 18.73 and a beta of 1.43. MasterBrand, Inc. has a 52-week low of $9.63 and a 52-week high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The company had revenue of $730.90 million for the quarter, compared to the consensus estimate of $683.30 million. MasterBrand had a net margin of 3.37% and a return on equity of 11.88%.

MasterBrand Profile

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.