GAMMA Investing LLC Has $63,000 Holdings in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

GAMMA Investing LLC increased its position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN) by 154.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 734 shares of the company’s stock after buying an additional 445 shares during the period. GAMMA Investing LLC’s holdings in Beacon Roofing Supply were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Beacon Roofing Supply by 127.1% during the 4th quarter. Quarry LP now owns 402 shares of the company’s stock worth $35,000 after purchasing an additional 225 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Beacon Roofing Supply in the fourth quarter valued at approximately $218,000. American International Group Inc. lifted its position in shares of Beacon Roofing Supply by 7.0% in the fourth quarter. American International Group Inc. now owns 28,836 shares of the company’s stock valued at $2,509,000 after buying an additional 1,890 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Beacon Roofing Supply by 11.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 602,287 shares of the company’s stock worth $52,411,000 after acquiring an additional 62,690 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Beacon Roofing Supply by 9.6% during the 4th quarter. Vanguard Group Inc. now owns 6,165,267 shares of the company’s stock worth $536,502,000 after acquiring an additional 539,785 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Beacon Roofing Supply Stock Down 0.0 %

NASDAQ BECN opened at $93.32 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -148.13 and a beta of 1.55. The company has a 50 day moving average of $86.60 and a 200-day moving average of $92.63. Beacon Roofing Supply, Inc. has a 1-year low of $68.50 and a 1-year high of $105.42.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, August 1st. The company reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.47). Beacon Roofing Supply had a net margin of 4.11% and a return on equity of 26.02%. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the company posted $2.66 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts expect that Beacon Roofing Supply, Inc. will post 7.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Prithvi Gandhi bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $82.29 per share, for a total transaction of $411,450.00. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $411,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Beacon Roofing Supply news, EVP Christopher Carl Nelson sold 1,627 shares of Beacon Roofing Supply stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $138,295.00. Following the transaction, the executive vice president now owns 320 shares in the company, valued at $27,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Prithvi Gandhi purchased 5,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $82.29 per share, with a total value of $411,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $411,450. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BECN. Stephens cut their price target on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Robert W. Baird cut their target price on shares of Beacon Roofing Supply from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Beacon Roofing Supply from $119.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Beacon Roofing Supply presently has an average rating of “Moderate Buy” and a consensus price target of $113.78.

Beacon Roofing Supply Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.