Magnetar Financial LLC Purchases New Stake in Floor & Decor Holdings, Inc. (FND)

Magnetar Financial LLC purchased a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 196,957 shares of the company’s stock, valued at approximately $7,668,000. Magnetar Financial LLC owned 0.21% of Floor & Decor as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ares Management LLC purchased a new position in shares of Floor & Decor during the 2nd quarter valued at about $2,049,069,000. FS Capital Partners VI LLC purchased a new position in shares of Floor & Decor in the 2nd quarter valued at about $993,798,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Floor & Decor by 30.8% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,644,866 shares of the company’s stock valued at $102,965,000 after purchasing an additional 622,703 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Floor & Decor by 1,007.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,660,900 shares of the company’s stock valued at $64,659,000 after purchasing an additional 1,510,900 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new position in shares of Floor & Decor in the 2nd quarter valued at about $32,590,000. 93.51% of the stock is owned by institutional investors.

In other Floor & Decor news, Director George Vincent West sold 125,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $34.92, for a total value of $4,365,000.00. Following the completion of the transaction, the director now owns 3,095 shares in the company, valued at $108,077.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Corporate Opportunities F. Ares sold 4,853,847 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $34.92, for a total transaction of $169,496,337.24. The disclosure for this sale can be found here. Insiders have sold 5,277,666 shares of company stock worth $185,289,781 in the last ninety days.

Several equities analysts recently weighed in on FND shares. Zacks Investment Research upgraded Floor & Decor from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, September 12th. Telsey Advisory Group upgraded Floor & Decor from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $39.00 to $47.00 in a research note on Friday, November 3rd. BMO Capital Markets boosted their price objective on Floor & Decor from $41.00 to $45.00 and gave the stock a “market perform” rating in a research note on Monday, November 6th. Bank of America reiterated a “buy” rating and set a $42.00 price objective on shares of Floor & Decor in a research note on Tuesday, September 5th. Finally, Credit Suisse Group boosted their price objective on Floor & Decor from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Floor & Decor has an average rating of “Buy” and an average target price of $42.93.

Floor & Decor Holdings, Inc. (NYSE FND) opened at $42.45 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.33 and a quick ratio of 0.18. Floor & Decor Holdings, Inc. has a 52 week low of $29.37 and a 52 week high of $46.99.

Floor & Decor (NYSE:FND) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Floor & Decor had a return on equity of 26.39% and a net margin of 5.62%. The business had revenue of $343.90 million for the quarter, compared to analyst estimates of $338.62 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. sell-side analysts predict that Floor & Decor Holdings, Inc. will post 0.66 earnings per share for the current year.

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About Floor & Decor

Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).

Institutional Ownership by Quarter for Floor & Decor (NYSE:FND)

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