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

Key Points

• MasterBrand, Inc. experienced a significant increase in short interest through August, rising by 23.0% to a total of 7,440,000 shares, representing 5.8% of the company's stock being short sold.
• Wall Street analyst ratings for MasterBrand have shifted, with one analyst upgrading the stock from "hold" to "buy," while the consensus rating remains a "hold" with an average target price of $15.00.
• MasterBrand reported a better than expected earnings result for the last quarter, with an earnings per share of $0.40 and revenues of $730.90 million, exceeding analyst estimates significantly.

MasterBrand, Inc. (NYSE:MBC - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 7,440,000 shares, an increase of 23.0% from the August 15th total of 6,050,000 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 5.8 days. Currently, 5.8% of the shares of the stock are sold short. Currently, 5.8% of the shares of the stock are sold short. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 5.8 days.

Analyst Upgrades and Downgrades

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

MasterBrand Trading Down 1.5%

NYSE MBC traded down $0.19 on Monday, reaching $12.91. 1,906,703 shares of the company were exchanged, compared to its average volume of 1,605,133. The business's fifty day moving average price is $12.38 and its 200 day moving average price is $11.85. The stock has a market capitalization of $1.64 billion, a P/E ratio of 11.01 and a beta of 1.43. The company has a current ratio of 1.87, a quick ratio of 1.12 and a debt-to-equity ratio of 0.73. MasterBrand has a fifty-two week low of $9.63 and a fifty-two week high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share 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 analyst estimates of $683.30 million. MasterBrand had a return on equity of 11.88% and a net margin of 3.37%.

Hedge Funds Weigh In On MasterBrand

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in MasterBrand by 213.8% in 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of MasterBrand in the first quarter valued at $49,000. Parkside Financial Bank & Trust raised its holdings in shares of MasterBrand by 61.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 4,357 shares of the company's stock valued at $48,000 after buying an additional 1,655 shares during the period. Public Employees Retirement System of Ohio lifted its stake in MasterBrand by 36.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company's stock worth $70,000 after acquiring an additional 1,286 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in MasterBrand by 1,543.7% during the 2nd quarter. Allworth Financial LP now owns 6,361 shares of the company's stock worth $70,000 after acquiring an additional 5,974 shares in the last quarter. Institutional investors and hedge funds own 87.32% of the company's stock.

MasterBrand Company 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.