Atom Investors LP Acquires New Stake in MasterBrand, Inc. (NYSE:MBC)

Atom Investors LP purchased a new position in shares of MasterBrand, Inc. (NYSE:MBC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,374 shares of the company's stock, valued at approximately $600,000.

Several other hedge funds have also added to or reduced their stakes in MBC. Quest Partners LLC bought a new stake in MasterBrand in the second quarter worth about $36,000. GAMMA Investing LLC raised its position in MasterBrand by 46.3% in the third quarter. GAMMA Investing LLC now owns 2,814 shares of the company's stock worth $52,000 after acquiring an additional 890 shares during the period. nVerses Capital LLC bought a new stake in MasterBrand in the second quarter worth about $75,000. U.S. Capital Wealth Advisors LLC bought a new stake in MasterBrand in the second quarter worth about $161,000. Finally, Optimum Investment Advisors raised its position in shares of MasterBrand by 1,700.0% in the third quarter. Optimum Investment Advisors now owns 9,000 shares of the company's stock valued at $167,000 after purchasing an additional 8,500 shares during the period. Institutional investors own 87.32% of the company's stock.

Wall Street Analyst Weigh In

Separately, Loop Capital boosted their price target on shares of MasterBrand from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, October 17th.

MasterBrand Stock Performance

Shares of NYSE MBC traded down $0.09 during midday trading on Wednesday, hitting $17.15. The company's stock had a trading volume of 454,306 shares, compared to its average volume of 913,194. The stock has a fifty day moving average price of $17.70 and a 200 day moving average price of $16.60. MasterBrand, Inc. has a one year low of $13.37 and a one year high of $20.67. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 15.12 and a beta of 1.35.

MasterBrand (NYSE:MBC - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.06. The business had revenue of $718.10 million for the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Insider Transactions at MasterBrand

In other MasterBrand news, Director Ann F. Hackett sold 17,589 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total value of $280,544.55. Following the completion of the sale, the director now owns 45,520 shares in the company, valued at approximately $726,044. This trade represents a 27.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark A. Young sold 4,715 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $16.33, for a total value of $76,995.95. Following the completion of the sale, the chief accounting officer now owns 45,148 shares of the company's stock, valued at approximately $737,266.84. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,806 shares of company stock worth $365,567. Insiders own 1.38% of the company's stock.

MasterBrand Company Profile

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.