Jane Street Group LLC Takes $1.98 Million Position in AZEK (NASDAQ:AZEK)

Jane Street Group LLC bought a new stake in AZEK (NASDAQ:AZEK) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 62,219 shares of the company’s stock, valued at approximately $1,982,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE purchased a new stake in AZEK in the 2nd quarter valued at about $28,000. Ovata Capital Management Ltd purchased a new stake in AZEK in the second quarter valued at approximately $32,000. Synovus Financial Corp acquired a new position in AZEK during the second quarter worth approximately $32,000. Flagship Harbor Advisors LLC purchased a new position in AZEK during the second quarter worth approximately $40,000. Finally, Advisor Group Holdings Inc. acquired a new position in shares of AZEK in the 2nd quarter valued at $46,000.

Shares of NASDAQ AZEK traded up $0.32 during trading on Wednesday, reaching $34.26. The stock had a trading volume of 3,663 shares, compared to its average volume of 1,018,345. The stock has a 50 day simple moving average of $36.84. AZEK has a one year low of $26.35 and a one year high of $42.16.

AZEK (NASDAQ:AZEK) last released its earnings results on Thursday, August 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The business had revenue of $223.71 million for the quarter, compared to analysts’ expectations of $209.31 million.

A number of research analysts recently weighed in on the company. Goldman Sachs Group began coverage on AZEK in a report on Tuesday, July 7th. They issued a “neutral” rating and a $35.00 target price on the stock. DA Davidson lifted their target price on shares of AZEK from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. They noted that the move was a valuation call. Robert W. Baird started coverage on AZEK in a research report on Tuesday, July 7th. They issued an “outperform” rating and a $37.00 target price for the company. BofA Securities began coverage on AZEK in a report on Tuesday, July 7th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on AZEK from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.50.

In other news, CEO Jesse G. Singh sold 276,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $33.25, for a total transaction of $9,177,000.00. Following the sale, the chief executive officer now directly owns 2,286,417 shares in the company, valued at approximately $76,023,365.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Greg Jorgensen sold 2,990 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $33.25, for a total value of $99,417.50. Following the completion of the sale, the chief accounting officer now directly owns 70,326 shares in the company, valued at approximately $2,338,339.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 405,708 shares of company stock worth $13,489,791.

About AZEK

The AZEK Company Inc engages in manufacturing and selling building products for residential, commercial, and industrial markets in the United States. Its products include trims, decks, porches, moldings, rails, pavers, and bathroom and locker systems, as well as extruded plastic sheet products and other non-fabricated products for special applications in industrial markets.

Read More: Balance Sheet

Institutional Ownership by Quarter for AZEK (NASDAQ:AZEK)

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