Dark Forest Capital Management LP Lowers Position in Beacon Roofing Supply, Inc. (NASDAQ:BECN)

Dark Forest Capital Management LP lowered its position in Beacon Roofing Supply, Inc. (NASDAQ:BECN - Free Report) by 72.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,906 shares of the company's stock after selling 31,983 shares during the quarter. Dark Forest Capital Management LP's holdings in Beacon Roofing Supply were worth $1,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in shares of Beacon Roofing Supply during the fourth quarter worth approximately $31,000. PNC Financial Services Group Inc. raised its position in Beacon Roofing Supply by 38.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 591 shares of the company's stock worth $60,000 after purchasing an additional 163 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Beacon Roofing Supply by 26.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 720 shares of the company's stock worth $73,000 after purchasing an additional 150 shares during the last quarter. Principal Securities Inc. boosted its position in Beacon Roofing Supply by 16.5% during the fourth quarter. Principal Securities Inc. now owns 1,381 shares of the company's stock valued at $140,000 after buying an additional 196 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at about $152,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Buying and Selling

In other news, EVP Christopher Carl Nelson sold 16,595 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $123.61, for a total transaction of $2,051,307.95. Following the sale, the executive vice president now owns 463 shares of the company's stock, valued at $57,231.43. This trade represents a 97.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Stuart Bennett sold 8,487 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $122.14, for a total transaction of $1,036,602.18. Following the sale, the insider now owns 22,642 shares of the company's stock, valued at approximately $2,765,493.88. This represents a 27.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,806 shares of company stock worth $6,745,448 in the last three months. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BECN shares. Robert W. Baird increased their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Raymond James cut Beacon Roofing Supply from a "moderate buy" rating to a "hold" rating in a research note on Friday, March 21st. Zelman & Associates lowered Beacon Roofing Supply from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 16th. Loop Capital reiterated a "hold" rating and issued a $124.00 price objective on shares of Beacon Roofing Supply in a research report on Friday, March 21st. Finally, Benchmark reaffirmed a "buy" rating and issued a $140.00 price target on shares of Beacon Roofing Supply in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Beacon Roofing Supply currently has an average rating of "Hold" and a consensus price target of $121.47.

Beacon Roofing Supply Stock Down 0.0 %

Shares of Beacon Roofing Supply stock traded down $0.02 during trading on Monday, hitting $124.17. The company's stock had a trading volume of 8,238,627 shares, compared to its average volume of 1,186,453. The company has a fifty day simple moving average of $120.59 and a two-hundred day simple moving average of $111.64. Beacon Roofing Supply, Inc. has a 52 week low of $77.54 and a 52 week high of $124.84. The company has a market capitalization of $7.67 billion, a PE ratio of 21.23 and a beta of 1.31. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.14 and a current ratio of 1.91.

Beacon Roofing Supply (NASDAQ:BECN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.43 billion. Beacon Roofing Supply had a net margin of 3.86% and a return on equity of 25.32%. Equities research analysts predict that Beacon Roofing Supply, Inc. will post 7.22 earnings per share for the current year.

Beacon Roofing Supply Company 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.