AQR Capital Management LLC Acquires New Position in Traeger, Inc. (NYSE:COOK)

AQR Capital Management LLC acquired a new position in shares of Traeger, Inc. (NYSE:COOK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,726 shares of the company’s stock, valued at approximately $52,000.

A number of other institutional investors also recently bought and sold shares of COOK. Dimensional Fund Advisors LP lifted its position in Traeger by 56.3% in the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after buying an additional 72,637 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Traeger by 19.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after purchasing an additional 29,694 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Traeger in the second quarter valued at approximately $345,000. Empowered Funds LLC raised its position in Traeger by 398.0% in the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after purchasing an additional 102,689 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock worth $206,000 after purchasing an additional 75,159 shares in the last quarter. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Stock Performance

Shares of COOK stock opened at $3.21 on Friday. The company has a market cap of $413.67 million, a P/E ratio of -4.86 and a beta of 1.23. The firm has a fifty day moving average price of $3.42 and a 200 day moving average price of $2.71. The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. Traeger, Inc. has a 12 month low of $1.97 and a 12 month high of $3.97.

Traeger (NYSE:COOK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The business had revenue of $168.47 million during the quarter, compared to analysts’ expectations of $168.07 million. During the same period in the prior year, the firm posted ($0.23) EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict that Traeger, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COOK. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a research note on Wednesday, August 7th. Piper Sandler raised Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada increased their price target on shares of Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird lifted their price objective on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.30.

Traeger Company Profile

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.