The Middleby Co. (NASDAQ:MIDD) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 21,915.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,934 shares of the industrial products company's stock after acquiring an additional 136,312 shares during the period. GAMMA Investing LLC owned 0.26% of Middleby worth $20,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in Middleby by 760.0% in the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company's stock valued at $39,000 after buying an additional 228 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Middleby during the fourth quarter valued at about $71,000. Principal Securities Inc. raised its position in shares of Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 78 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in Middleby by 220.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company's stock worth $82,000 after purchasing an additional 417 shares in the last quarter. Finally, Crewe Advisors LLC grew its position in Middleby by 73.2% during the 4th quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company's stock worth $96,000 after purchasing an additional 300 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of MIDD traded up $0.08 during trading hours on Friday, hitting $147.22. The stock had a trading volume of 589,352 shares, compared to its average volume of 719,054. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 20.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The firm has a 50-day moving average price of $139.23 and a 200 day moving average price of $146.83. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.14. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $906.63 million for the quarter, compared to analyst estimates of $941.46 million. During the same period in the prior year, the company posted $1.89 EPS. The company's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, research analysts anticipate that The Middleby Co. will post 9.11 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MIDD. JPMorgan Chase & Co. raised their target price on Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 26th. KeyCorp cut their price target on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Middleby from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th. Robert W. Baird dropped their price objective on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Canaccord Genuity Group cut their price objective on shares of Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $168.14.

Insider Buying and Selling at Middleby

In other Middleby news, Director Edward P. Garden bought 621 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $149.62 per share, for a total transaction of $92,914.02. Following the transaction, the director now directly owns 3,139,834 shares of the company's stock, valued at approximately $469,781,963.08. This represents a 0.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have acquired 640,968 shares of company stock valued at $93,495,270. Company insiders own 6.18% of the company's stock.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.