NJ State Employees Deferred Compensation Plan cut its holdings in PGT Innovations Inc (NYSE:PGTI) by 42.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,000 shares of the construction company’s stock after selling 11,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in PGT Innovations were worth $238,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of PGTI. IFP Advisors Inc raised its holdings in shares of PGT Innovations by 182.2% in the fourth quarter. IFP Advisors Inc now owns 2,822 shares of the construction company’s stock valued at $44,000 after acquiring an additional 1,822 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of PGT Innovations in the fourth quarter valued at about $167,000. Oppenheimer Asset Management Inc. bought a new stake in shares of PGT Innovations in the third quarter valued at about $214,000. Acadian Asset Management LLC bought a new stake in shares of PGT Innovations in the third quarter valued at about $238,000. Finally, United Services Automobile Association bought a new stake in shares of PGT Innovations in the third quarter valued at about $246,000. 90.18% of the stock is owned by hedge funds and other institutional investors.
In other PGT Innovations news, Director Rodney Hershberger sold 34,851 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $17.12, for a total value of $596,649.12. Following the completion of the transaction, the director now directly owns 1,106,139 shares of the company’s stock, valued at $18,937,099.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.80% of the company’s stock.
NYSE:PGTI traded down $0.02 during trading hours on Friday, reaching $16.94. The company had a trading volume of 244,579 shares, compared to its average volume of 428,532. PGT Innovations Inc has a 1-year low of $14.64 and a 1-year high of $26.40. The company has a market capitalization of $981.50 million, a PE ratio of 27.77, a PEG ratio of 0.67 and a beta of 1.10. The company has a current ratio of 2.82, a quick ratio of 2.16 and a debt-to-equity ratio of 0.99.
PGTI has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on PGT Innovations in a research note on Tuesday, December 18th. They issued a “neutral” rating and a $19.00 target price on the stock. Deutsche Bank initiated coverage on PGT Innovations in a research note on Friday, October 19th. They issued a “buy” rating and a $26.00 target price on the stock. Zacks Investment Research lowered PGT Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Finally, ValuEngine lowered PGT Innovations from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.38.
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About PGT Innovations
PGT Innovations, Inc manufactures and supplies residential impact-resistant windows and doors in the Southeastern United States, the Gulf Coast, Coastal mid-Atlantic, the Caribbean, Central America, and Canada. The company offers heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris; and non-impact vinyl windows with insulating glass and multi-chambered frames for various climate zones.
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