Cubist Systematic Strategies LLC Sells 60,814 Shares of Traeger, Inc. (NYSE:COOK)

Cubist Systematic Strategies LLC lowered its stake in shares of Traeger, Inc. (NYSE:COOK) by 80.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,370 shares of the company’s stock after selling 60,814 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Traeger were worth $34,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norden Group LLC bought a new position in shares of Traeger in the first quarter worth about $118,000. Empowered Funds LLC increased its position in Traeger by 398.0% in the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after buying an additional 102,689 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Traeger by 19.4% during the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after buying an additional 29,694 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Traeger in the first quarter valued at approximately $27,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Traeger by 56.3% in the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after acquiring an additional 72,637 shares during the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Stock Performance

NYSE COOK opened at $3.34 on Wednesday. Traeger, Inc. has a twelve month low of $1.97 and a twelve month high of $3.97. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. The stock has a market cap of $430.43 million, a P/E ratio of -5.06 and a beta of 1.23. The company’s 50-day simple moving average is $3.28 and its 200 day simple moving average is $2.66.

Traeger (NYSE:COOK) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $168.47 million for the quarter, compared to analyst estimates of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) EPS. As a group, research analysts forecast that Traeger, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 target price on shares of Traeger in a research note on Wednesday, August 7th. Piper Sandler raised shares of Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird upped their price target on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Traeger has an average rating of “Moderate Buy” and a consensus price target of $3.30.

Traeger Profile

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.