Waratah Capital Advisors Ltd. Grows Stake in Traeger, Inc. (NYSE:COOK)

Waratah Capital Advisors Ltd. raised its stake in Traeger, Inc. (NYSE:COOKGet Rating) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 686,245 shares of the company’s stock after acquiring an additional 78,016 shares during the period. Waratah Capital Advisors Ltd. owned approximately 0.58% of Traeger worth $5,106,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Traeger by 1,187.7% during the fourth quarter. Bank of America Corp DE now owns 1,089,907 shares of the company’s stock valued at $13,253,000 after buying an additional 1,005,269 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Traeger by 20.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,942,401 shares of the company’s stock valued at $35,780,000 after buying an additional 508,446 shares during the last quarter. Strs Ohio boosted its position in shares of Traeger by 10,526.3% during the first quarter. Strs Ohio now owns 403,800 shares of the company’s stock valued at $3,004,000 after buying an additional 400,000 shares during the last quarter. Capital World Investors boosted its position in shares of Traeger by 9.0% during the fourth quarter. Capital World Investors now owns 4,702,640 shares of the company’s stock valued at $57,184,000 after buying an additional 388,470 shares during the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Traeger during the fourth quarter valued at $3,161,000. 59.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COOK has been the topic of several recent analyst reports. Credit Suisse Group cut Traeger from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $4.00 in a research report on Tuesday, July 26th. Telsey Advisory Group downgraded Traeger from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $9.00 to $5.00 in a report on Thursday, July 21st. Piper Sandler lowered their target price on Traeger from $10.00 to $7.00 in a report on Thursday, May 12th. Finally, Robert W. Baird lowered their target price on Traeger from $12.00 to $9.00 in a report on Thursday, May 12th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.28.

Traeger Stock Performance

Shares of NYSE COOK traded down $0.02 during trading on Friday, hitting $3.40. The company had a trading volume of 743,315 shares, compared to its average volume of 786,768. The stock has a 50 day simple moving average of $4.13 and a 200 day simple moving average of $6.59. The firm has a market capitalization of $401.91 million and a P/E ratio of -2.86. Traeger, Inc. has a 12 month low of $2.88 and a 12 month high of $32.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.93 and a current ratio of 1.75.

Traeger (NYSE:COOKGet Rating) last issued its earnings results on Wednesday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. The company had revenue of $223.71 million for the quarter, compared to the consensus estimate of $210.44 million. Traeger had a negative return on equity of 10.48% and a negative net margin of 17.60%. As a group, analysts anticipate that Traeger, Inc. will post -0.23 earnings per share for the current year.

About Traeger

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Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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.

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Institutional Ownership by Quarter for Traeger (NYSE:COOK)

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