JELD-WEN (NYSE:JELD) Stock: Insider Turtle Creek Asset Management Sells 300,000 Shares

Key Points

• Turtle Creek Asset Management sold 300,000 JELD-WEN shares at an average $1.16 each, for $348,000. It retained 858,095 shares after reducing its position by 25.9%.
• JELD-WEN reported quarterly EPS of $0.05, matching analyst estimates, but revenue of $798.51 million fell short of the $804.29 million consensus; its net margin was negative 5.26%.
• The stock traded at $1.04, near its 12-month low of $0.93. Analysts’ average rating was “Reduce,” with an average price target of $1.98.

JELD-WEN Holding, Inc. (NYSE:JELD - Get Free Report) major shareholder Turtle Creek Asset Management sold 300,000 shares of the business's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $1.16, for a total transaction of $348,000.00. Following the completion of the sale, the insider owned 858,095 shares in the company, valued at $995,390.20. This represents a 25.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

JELD-WEN Price Performance

JELD-WEN stock traded up $0.04 during mid-day trading on Friday, reaching $1.04. 1,262,723 shares of the company's stock traded hands, compared to its average volume of 1,734,739. JELD-WEN Holding, Inc. has a 12-month low of $0.93 and a 12-month high of $3.27. The company has a quick ratio of 0.98, a current ratio of 1.73 and a debt-to-equity ratio of 97.65. The stock has a 50 day moving average of $1.72 and a two-hundred day moving average of $1.73. The company has a market cap of $90.66 million, a price-to-earnings ratio of -0.54 and a beta of 2.28.

JELD-WEN (NYSE:JELD - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. JELD-WEN had a negative net margin of 5.26% and a negative return on equity of 365.10%. The business had revenue of $798.51 million during the quarter, compared to analysts' expectations of $804.29 million.

Hedge Funds Weigh In On JELD-WEN

Hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. increased its stake in shares of JELD-WEN by 16.7% during the third quarter. Jefferies Financial Group Inc. now owns 882,000 shares of the company's stock valued at $1,623,000 after buying an additional 126,537 shares during the period. Covestor Ltd raised its holdings in shares of JELD-WEN by 25,698.1% in the third quarter. Covestor Ltd now owns 26,830 shares of the company's stock valued at $49,000 after acquiring an additional 26,726 shares in the last quarter. SummerHaven Investment Management LLC purchased a new stake in JELD-WEN in the third quarter worth about $107,000. Squarepoint Ops LLC purchased a new stake in JELD-WEN in the second quarter worth about $216,000. Finally, Corient Private Wealth LP purchased a new stake in JELD-WEN in the second quarter worth about $40,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays lowered their price objective on JELD-WEN from $2.00 to $1.50 and set an "equal weight" rating for the company in a research note on Thursday. Wall Street Zen raised JELD-WEN from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded JELD-WEN from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, September 29th. The Goldman Sachs Group restated a "neutral" rating and set a $2.00 price target on shares of JELD-WEN in a report on Thursday, August 6th. Finally, UBS Group raised their price target on JELD-WEN from $1.60 to $1.80 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, JELD-WEN currently has an average rating of "Reduce" and an average target price of $1.98.

JELD-WEN Company Profile

JELD-WEN Holding, Inc is a manufacturer of windows and doors for residential and commercial construction and remodeling markets. Its products include vinyl, wood, aluminum and composite windows, as well as interior and exterior doors, patio doors and related building products.

The company sells products through building-product distributors, dealers, retail outlets and other channels. Its brands and product offerings serve new construction, repair and remodeling, and replacement applications, with products designed for homes, offices and other buildings.

Founded in 1960 in Klamath Falls, Oregon, JELD-WEN has expanded into an international building-products company serving customers in North America, Europe and Australia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.