Glendon Capital Management LP Boosts Holdings in Traeger, Inc. (NYSE:COOK)

Glendon Capital Management LP raised its stake in shares of Traeger, Inc. (NYSE:COOK) by 223.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,165,546 shares of the company’s stock after purchasing an additional 805,546 shares during the period. Traeger accounts for 0.2% of Glendon Capital Management LP’s holdings, making the stock its 16th biggest position. Glendon Capital Management LP owned about 0.93% of Traeger worth $3,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Panagora Asset Management Inc. purchased a new position in shares of Traeger in the third quarter worth about $326,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Traeger in the third quarter worth about $161,000. Quantbot Technologies LP purchased a new position in shares of Traeger in the third quarter worth about $55,000. Swiss National Bank lifted its stake in shares of Traeger by 14.4% in the third quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $372,000 after buying an additional 17,100 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Traeger in the third quarter worth about $45,000. 46.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COOK has been the topic of a number of analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.50 target price (down from $5.00) on shares of Traeger in a research note on Monday, March 4th. Canaccord Genuity Group reduced their target price on shares of Traeger from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.47.

Traeger Trading Up 2.4 %

COOK stock traded up $0.05 during trading on Thursday, reaching $2.16. 144,184 shares of the stock were exchanged, compared to its average volume of 307,284. Traeger, Inc. has a 1 year low of $1.97 and a 1 year high of $6.70. The firm has a market capitalization of $276.78 million, a price-to-earnings ratio of -3.91 and a beta of 1.07. The business has a 50 day moving average price of $2.26 and a 200-day moving average price of $2.38. The company has a current ratio of 1.62, a quick ratio of 0.90 and a debt-to-equity ratio of 1.36.

Traeger (NYSE:COOK) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Traeger had a negative net margin of 11.26% and a negative return on equity of 20.91%. The company had revenue of $163.48 million for the quarter, compared to analyst estimates of $153.10 million. On average, research analysts predict that Traeger, Inc. will post -0.15 earnings per share for the current year.

About Traeger

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.