Builders FirstSource, Inc. (BLDR) Short Interest Update

Builders FirstSource, Inc. (NASDAQ:BLDR) was the target of a large decrease in short interest in the month of September. As of September 29th, there was short interest totalling 5,778,036 shares, a decrease of 31.6% from the September 15th total of 8,442,561 shares. Currently, 5.3% of the shares of the company are sold short. Based on an average daily volume of 1,458,157 shares, the days-to-cover ratio is currently 4.0 days.

In other news, Director Cleveland A. Christophe sold 36,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $16.66, for a total transaction of $599,760.00. Following the sale, the director now directly owns 48,181 shares in the company, valued at approximately $802,695.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jll Partners Fund V. Lp sold 13,482,177 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $16.17, for a total value of $218,006,802.09. The disclosure for this sale can be found here. Insiders have sold a total of 13,645,368 shares of company stock worth $220,735,138 over the last quarter. Insiders own 14.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in shares of Builders FirstSource in the 1st quarter worth approximately $108,000. SG Americas Securities LLC acquired a new position in shares of Builders FirstSource in the 2nd quarter worth approximately $114,000. PNC Financial Services Group Inc. boosted its holdings in shares of Builders FirstSource by 10,237.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock worth $131,000 after acquiring an additional 8,497 shares in the last quarter. Invictus RG acquired a new position in shares of Builders FirstSource in the 1st quarter worth approximately $140,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Builders FirstSource by 68.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock worth $143,000 after acquiring an additional 3,861 shares in the last quarter. 85.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of Builders FirstSource (BLDR) opened at 17.12 on Wednesday. Builders FirstSource has a 52-week low of $9.04 and a 52-week high of $18.23. The company has a 50-day moving average price of $17.01 and a 200 day moving average price of $15.68. The firm has a market capitalization of $1.93 billion, a PE ratio of 11.33 and a beta of 2.09.

Builders FirstSource (NASDAQ:BLDR) last announced its earnings results on Thursday, August 3rd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.83 billion. Builders FirstSource had a return on equity of 43.83% and a net margin of 2.60%. Builders FirstSource’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. Analysts expect that Builders FirstSource will post $1.11 EPS for the current fiscal year.

BLDR has been the topic of a number of research reports. BidaskClub cut Builders FirstSource from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. FBR & Co restated a “buy” rating and issued a $20.00 target price on shares of Builders FirstSource in a research report on Tuesday, June 27th. Deutsche Bank AG raised their target price on Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Wedbush restated a “buy” rating and issued a $20.00 target price on shares of Builders FirstSource in a research report on Thursday, September 7th. Finally, Zacks Investment Research cut Builders FirstSource from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Builders FirstSource currently has an average rating of “Hold” and an average price target of $17.33.

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About Builders FirstSource

Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.

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