Goldman Sachs Group Inc. Sells 48,094 Shares of PGT Innovations Inc (PGTI)
Goldman Sachs Group Inc. lowered its stake in PGT Innovations Inc (NASDAQ:PGTI) by 32.3% during the first quarter, Holdings Channel reports. The firm owned 100,712 shares of the construction company’s stock after selling 48,094 shares during the period. Goldman Sachs Group Inc.’s holdings in PGT Innovations were worth $1,083,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. ACK Asset Management LLC bought a new position in PGT Innovations during the first quarter valued at approximately $13,541,000. Cooke & Bieler LP raised its position in PGT Innovations by 12.7% in the first quarter. Cooke & Bieler LP now owns 2,670,640 shares of the construction company’s stock valued at $28,709,000 after buying an additional 300,870 shares during the period. Systematic Financial Management LP bought a new position in PGT Innovations during the first quarter valued at approximately $2,240,000. Vanguard Group Inc. raised its position in PGT Innovations by 5.9% in the first quarter. Vanguard Group Inc. now owns 2,503,414 shares of the construction company’s stock valued at $26,912,000 after buying an additional 140,242 shares during the period. Finally, Alliancebernstein L.P. raised its position in PGT Innovations by 268.3% in the first quarter. Alliancebernstein L.P. now owns 191,500 shares of the construction company’s stock valued at $2,059,000 after buying an additional 139,500 shares during the period. 96.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PGT Innovations Inc (NASDAQ:PGTI) traded down 0.39% during trading on Friday, hitting $12.85. The company’s stock had a trading volume of 195,543 shares. The company has a market capitalization of $637.39 million, a P/E ratio of 22.99 and a beta of 0.93. The firm’s 50 day moving average is $12.86 and its 200-day moving average is $11.59. PGT Innovations Inc has a 1-year low of $9.50 and a 1-year high of $13.85.
PGT Innovations (NASDAQ:PGTI) last released its earnings results on Thursday, August 3rd. The construction company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The firm had revenue of $137.38 million for the quarter, compared to analyst estimates of $127.79 million. PGT Innovations had a return on equity of 8.95% and a net margin of 2.66%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. Analysts forecast that PGT Innovations Inc will post $0.60 EPS for the current fiscal year.
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Several equities analysts recently commented on PGTI shares. Royal Bank Of Canada reissued a “buy” rating and set a $13.00 price target on shares of PGT Innovations in a research report on Friday, May 5th. Zacks Investment Research raised PGT Innovations from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. TheStreet raised PGT Innovations from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. Finally, Raymond James Financial, Inc. lowered PGT Innovations from an “outperform” rating to a “market perform” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.00.
In other PGT Innovations news, Director Richard D. Feintuch sold 49,459 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $13.19, for a total value of $652,364.21. Following the sale, the director now owns 81,051 shares of the company’s stock, valued at approximately $1,069,062.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brett N. Milgrim sold 8,322 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $13.33, for a total value of $110,932.26. Following the completion of the sale, the director now directly owns 64,654 shares in the company, valued at approximately $861,837.82. The disclosure for this sale can be found here. Company insiders own 6.50% of the company’s stock.
PGT Innovations Company Profile
PGT Innovations, Inc, formerly PGT, Inc, is a manufacturer of impact-resistant windows and doors. The Company’s brands include CGI, PGT Windows + Doors and WinDoor. CGI serves residential and commercial markets in both new and existing construction. CGI manufacturing and delivery facilities are based in Miami, Florida.
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