MasterBrand, Inc. (NYSE:MBC) Sees Large Growth in Short Interest

Key Points

• MasterBrand, Inc. experienced a significant increase in short interest, rising by 52.4% to 6,050,000 shares as of August 15th, highlighting market bearish sentiment.
• Wall Street analysts have upgraded the stock from a "hold" to a "buy" rating, with an average price target set at $15.00.
• Institutional investors hold 87.32% of MasterBrand's stock, suggesting strong institutional confidence in the company's performance and prospects.

MasterBrand, Inc. (NYSE:MBC - Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 6,050,000 shares, an increase of 52.4% from the July 31st total of 3,970,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 5.1 days. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is currently 5.1 days. Currently, 4.7% of the shares of the stock are sold short.

Analyst Ratings Changes

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

MasterBrand Trading Down 1.1%

MBC stock traded down $0.15 during trading on Friday, reaching $13.34. The company had a trading volume of 295,706 shares, compared to its average volume of 1,148,385. MasterBrand has a 52 week low of $9.63 and a 52 week high of $20.67. The company has a market cap of $1.69 billion, a P/E ratio of 18.56 and a beta of 1.43. The business has a 50 day moving average of $12.16 and a 200 day moving average of $11.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.87 and a quick ratio of 1.12.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly earnings results 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. MasterBrand had a net margin of 3.37% and a return on equity of 11.88%. The company had revenue of $730.90 million during the quarter, compared to the consensus estimate of $683.30 million.

Hedge Funds Weigh In On MasterBrand

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP boosted its holdings in MasterBrand by 307.1% in the fourth quarter. Susquehanna International Group LLP now owns 130,490 shares of the company's stock worth $1,906,000 after purchasing an additional 98,439 shares during the last quarter. Northern Trust Corp boosted its holdings in MasterBrand by 14.1% in the fourth quarter. Northern Trust Corp now owns 1,521,870 shares of the company's stock worth $22,235,000 after purchasing an additional 187,666 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in MasterBrand by 109.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 41,700 shares of the company's stock worth $609,000 after purchasing an additional 21,780 shares during the last quarter. Jane Street Group LLC boosted its holdings in MasterBrand by 590.5% in the fourth quarter. Jane Street Group LLC now owns 322,883 shares of the company's stock worth $4,717,000 after purchasing an additional 276,123 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in MasterBrand in the fourth quarter worth approximately $246,000. Institutional investors own 87.32% of the company's stock.

About MasterBrand

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.