Renaissance Technologies LLC Invests $345,000 in Traeger, Inc. (NYSE:COOK)

Renaissance Technologies LLC purchased a new position in Traeger, Inc. (NYSE:COOK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 143,746 shares of the company’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds also recently modified their holdings of COOK. SG Americas Securities LLC bought a new position in shares of Traeger in the first quarter worth $27,000. Norden Group LLC bought a new position in shares of Traeger in the first quarter worth $59,000. Empowered Funds LLC grew its stake in shares of Traeger by 398.0% in the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after purchasing an additional 102,689 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Traeger by 19.4% in the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after purchasing an additional 29,694 shares in the last quarter. 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 purchasing an additional 72,637 shares in the last quarter. Institutional investors own 46.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COOK shares. Royal Bank of Canada upped their price objective on Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Robert W. Baird upped their price objective on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.30.

Traeger Trading Up 2.5 %

Shares of NYSE COOK opened at $3.34 on Friday. Traeger, Inc. has a 12 month low of $1.97 and a 12 month high of $3.97. The company has a market cap of $432.43 million, a price-to-earnings ratio of -8.15 and a beta of 1.23. 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 business has a fifty day simple moving average of $3.35 and a 200-day simple moving average of $2.68.

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

Traeger Company 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.