Victory Capital Management Inc. Sells 132,820 Shares of Janus International Group, Inc. (NYSE:JBI)

Key Points

• Victory Capital Management Inc. reduced its holdings in Janus International Group by 89.2% in the first quarter, now owning 16,141 shares after selling 132,820 shares.
• Janus International Group announced a $75 million share repurchase program, allowing the purchase of up to 6.2% of its shares in response to perceived undervaluation.
• The company's stock has experienced a 0.2% decrease, with last reported earnings showing a 17.3% year-over-year revenue decline but surpassing earnings expectations.

Victory Capital Management Inc. cut its position in shares of Janus International Group, Inc. (NYSE:JBI - Free Report) by 89.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,141 shares of the company's stock after selling 132,820 shares during the quarter. Victory Capital Management Inc.'s holdings in Janus International Group were worth $116,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of JBI. Federated Hermes Inc. boosted its stake in shares of Janus International Group by 109.3% during the 4th quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock worth $35,000 after acquiring an additional 2,506 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Janus International Group by 42.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock worth $38,000 after buying an additional 1,544 shares during the period. Group One Trading LLC boosted its position in shares of Janus International Group by 9,000.0% in the fourth quarter. Group One Trading LLC now owns 9,100 shares of the company's stock worth $67,000 after buying an additional 9,000 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Janus International Group in the first quarter worth $72,000. Finally, CWM LLC boosted its position in shares of Janus International Group by 571.1% in the first quarter. CWM LLC now owns 11,012 shares of the company's stock worth $79,000 after buying an additional 9,371 shares during the period. Institutional investors and hedge funds own 88.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp lifted their price objective on Janus International Group from $9.00 to $10.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $10.00.

Janus International Group Trading Up 12.9%

Shares of Janus International Group stock traded up $1.12 on Thursday, hitting $9.80. 3,172,509 shares of the company's stock traded hands, compared to its average volume of 1,376,276. The firm's 50-day moving average price is $8.54 and its two-hundred day moving average price is $7.99. The stock has a market capitalization of $1.38 billion, a PE ratio of 28.10 and a beta of 1.25. Janus International Group, Inc. has a one year low of $5.99 and a one year high of $11.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.59 and a quick ratio of 2.21.

Janus International Group (NYSE:JBI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. Janus International Group had a return on equity of 13.38% and a net margin of 5.49%. During the same quarter in the prior year, the firm posted $0.21 EPS. Janus International Group's revenue for the quarter was down 8.2% on a year-over-year basis. On average, research analysts expect that Janus International Group, Inc. will post 0.54 EPS for the current fiscal year.

Janus International Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 15th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Janus International Group Company 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.