AlphaCrest Capital Management LLC Invests $559,000 in Floor & Decor Holdings, Inc. (NYSE:FND)

Posted by on Mar 10th, 2023

AlphaCrest Capital Management LLC acquired a new position in shares of Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,956 shares of the company’s stock, valued at approximately $559,000.

Several other institutional investors and hedge funds have also made changes to their positions in FND. Price T Rowe Associates Inc. MD lifted its position in Floor & Decor by 729.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,870,442 shares of the company’s stock valued at $432,563,000 after purchasing an additional 6,042,378 shares during the period. WCM Investment Management LLC lifted its position in Floor & Decor by 44.2% during the third quarter. WCM Investment Management LLC now owns 4,317,473 shares of the company’s stock valued at $307,188,000 after purchasing an additional 1,324,188 shares during the period. Point72 Asset Management L.P. raised its position in shares of Floor & Decor by 2,395.4% in the third quarter. Point72 Asset Management L.P. now owns 688,625 shares of the company’s stock worth $48,383,000 after acquiring an additional 718,625 shares during the period. Madison Asset Management LLC acquired a new position in shares of Floor & Decor in the second quarter worth about $35,695,000. Finally, DF Dent & Co. Inc. raised its position in shares of Floor & Decor by 148.1% in the second quarter. DF Dent & Co. Inc. now owns 731,779 shares of the company’s stock worth $46,073,000 after acquiring an additional 436,859 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FND shares. Morgan Stanley upped their price objective on shares of Floor & Decor from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 24th. Robert W. Baird boosted their target price on shares of Floor & Decor from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Loop Capital boosted their target price on shares of Floor & Decor from $65.00 to $82.00 and gave the stock a “hold” rating in a research note on Monday, February 27th. Credit Suisse Group started coverage on shares of Floor & Decor in a research note on Monday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Finally, Sanford C. Bernstein started coverage on shares of Floor & Decor in a research note on Tuesday, December 6th. They set an “outperform” rating and a $112.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.06.

Insider Transactions at Floor & Decor

In other news, Director Richard L. Sullivan sold 1,734 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $91.94, for a total value of $159,423.96. Following the transaction, the director now directly owns 9,189 shares in the company, valued at approximately $844,836.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP David Victor Christopherson sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $92.00, for a total value of $368,000.00. Following the transaction, the executive vice president now directly owns 56,527 shares in the company, valued at approximately $5,200,484. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Sullivan sold 1,734 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $91.94, for a total transaction of $159,423.96. Following the sale, the director now owns 9,189 shares in the company, valued at $844,836.66. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Floor & Decor Stock Performance

NYSE:FND opened at $85.73 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.16. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.49 and a beta of 1.82. The company’s 50-day moving average is $88.36 and its two-hundred day moving average is $79.63. Floor & Decor Holdings, Inc. has a 1-year low of $59.91 and a 1-year high of $104.83.

Floor & Decor (NYSE:FND – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. Floor & Decor had a net margin of 6.99% and a return on equity of 19.35%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business posted $0.44 EPS. Floor & Decor’s revenue was up 14.6% on a year-over-year basis. Analysts forecast that Floor & Decor Holdings, Inc. will post 2.74 EPS for the current year.

Floor & Decor Company Profile

(Get Rating)

Floor & Decor Holdings, Inc engages in the retail of hard surface flooring and related accessories. It provides wood, stone, and flooring products. Its products include vinyl, laminate, and tiles with materials installation for living rooms, kitchen, bathrooms, and walls. The company was founded by George Vincent West in 2000 and is headquartered in Atlanta, GA.

Read More

Want to see what other hedge funds are holding FND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Floor & Decor Holdings, Inc. (NYSE:FND – Get Rating).

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

Receive News & Ratings for Floor & Decor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Floor & Decor and related companies with MarketBeat.com's FREE daily email newsletter.