Soros Fund Management LLC Takes Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Soros Fund Management LLC purchased a new position in shares of Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 78,123 shares of the company's stock, valued at approximately $6,752,000. Soros Fund Management LLC owned 0.13% of Beacon Roofing Supply as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in BECN. Quarry LP boosted its position in Beacon Roofing Supply by 180.7% in the third quarter. Quarry LP now owns 306 shares of the company's stock valued at $26,000 after buying an additional 197 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company's stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Beacon Roofing Supply in the third quarter worth $28,000. GAMMA Investing LLC increased its stake in shares of Beacon Roofing Supply by 154.0% in the third quarter. GAMMA Investing LLC now owns 734 shares of the company's stock worth $63,000 after acquiring an additional 445 shares during the period. Finally, Central Pacific Bank Trust Division lifted its position in Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company's stock valued at $108,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stephens restated an "equal weight" rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Robert W. Baird raised their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Benchmark reiterated a "buy" rating and issued a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Royal Bank of Canada increased their price target on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Beacon Roofing Supply from $119.00 to $136.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $118.00.

Insider Buying and Selling at Beacon Roofing Supply

In related news, insider Clement Munroe Best III sold 7,037 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $103.14, for a total transaction of $725,796.18. Following the transaction, the insider now owns 69,449 shares in the company, valued at $7,162,969.86. This trade represents a 9.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now directly owns 9,131 shares in the company, valued at approximately $821,790. This trade represents a 22.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,874 shares of company stock worth $1,812,146 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

Beacon Roofing Supply Trading Down 0.7 %

Shares of BECN stock traded down $0.74 on Friday, hitting $112.36. The stock had a trading volume of 135,142 shares, compared to its average volume of 721,095. The company's 50 day moving average price is $99.36 and its 200-day moving average price is $94.08. The firm has a market capitalization of $6.95 billion, a P/E ratio of 19.33 and a beta of 1.59. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. Beacon Roofing Supply, Inc. has a 1 year low of $77.54 and a 1 year high of $116.30.

About Beacon Roofing Supply

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.