PGT Innovations Inc (PGTI) Shares Bought by ClariVest Asset Management LLC

ClariVest Asset Management LLC lifted its stake in PGT Innovations Inc (NYSE:PGTI) by 136.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 309,410 shares of the construction company’s stock after buying an additional 178,789 shares during the quarter. ClariVest Asset Management LLC’s holdings in PGT Innovations were worth $6,684,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY purchased a new position in shares of PGT Innovations in the second quarter worth $138,000. Oppenheimer Asset Management Inc. purchased a new stake in PGT Innovations during the third quarter valued at $214,000. Aperio Group LLC purchased a new stake in PGT Innovations during the second quarter valued at $210,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in PGT Innovations during the second quarter valued at $220,000. Finally, Acadian Asset Management LLC purchased a new stake in PGT Innovations during the third quarter valued at $238,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

PGT Innovations stock opened at $19.41 on Friday. The firm has a market cap of $1.18 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89. The company has a current ratio of 2.82, a quick ratio of 2.16 and a debt-to-equity ratio of 0.99. PGT Innovations Inc has a 52-week low of $14.50 and a 52-week high of $26.40.

PGT Innovations (NYSE:PGTI) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.12. The company had revenue of $199.08 million for the quarter, compared to the consensus estimate of $165.62 million. PGT Innovations had a net margin of 9.92% and a return on equity of 25.71%. PGT Innovations’s revenue was up 56.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, equities research analysts predict that PGT Innovations Inc will post 1.17 earnings per share for the current fiscal year.

In other PGT Innovations news, Director Richard D. Feintuch sold 5,010 shares of the business’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $21.05, for a total transaction of $105,460.50. Following the transaction, the director now owns 101,810 shares in the company, valued at $2,143,100.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.80% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of PGT Innovations from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Deutsche Bank upped their price target on shares of PGT Innovations from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, November 5th. ValuEngine downgraded shares of PGT Innovations from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Jefferies Financial Group assumed coverage on shares of PGT Innovations in a research note on Thursday, October 4th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Wells Fargo & Co assumed coverage on shares of PGT Innovations in a research note on Thursday, October 4th. They set an “outperform” rating and a $25.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $23.63.

COPYRIGHT VIOLATION NOTICE: This piece was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece on another website, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this piece can be accessed at https://sportsperspectives.com/2018/11/16/pgt-innovations-inc-pgti-shares-bought-by-clarivest-asset-management-llc.html.

PGT Innovations Company Profile

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.

Recommended Story: Reverse Stock Split

Want to see what other hedge funds are holding PGTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PGT Innovations Inc (NYSE:PGTI).

Institutional Ownership by Quarter for PGT Innovations (NYSE:PGTI)

Receive News & Ratings for PGT Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PGT Innovations and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply