Laurion Capital Management LP Purchases New Position in Floor & Decor Holdings Inc (FND)
Laurion Capital Management LP purchased a new position in shares of Floor & Decor Holdings Inc (NYSE:FND) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 626,207 shares of the company’s stock, valued at approximately $18,893,000.
Other hedge funds have also recently bought and sold shares of the company. Strs Ohio bought a new position in shares of Floor & Decor during the 2nd quarter worth $195,000. SG Americas Securities LLC bought a new position in shares of Floor & Decor during the 2nd quarter worth $200,000. Pitcairn Co. bought a new position in shares of Floor & Decor during the 2nd quarter worth $201,000. Oppenheimer & Co. Inc. bought a new position in shares of Floor & Decor during the 2nd quarter worth $217,000. Finally, Rehmann Capital Advisory Group boosted its stake in Floor & Decor by 37,708.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 4,537 shares of the company’s stock worth $224,000 after purchasing an additional 4,525 shares during the period.
Several research analysts have commented on the company. Wells Fargo & Co upgraded Floor & Decor from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $42.00 to $40.00 in a research note on Friday, August 10th. Loop Capital upgraded Floor & Decor from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 8th. Guggenheim assumed coverage on Floor & Decor in a research note on Wednesday, August 8th. They issued a “buy” rating for the company. William Blair restated an “outperform” rating on shares of Floor & Decor in a research note on Thursday, August 23rd. Finally, Longbow Research assumed coverage on Floor & Decor in a research note on Friday, August 24th. They issued a “buy” rating and a $50.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $42.56.
Floor & Decor (NYSE:FND) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.02. The firm had revenue of $435.90 million during the quarter, compared to the consensus estimate of $428.88 million. Floor & Decor had a return on equity of 19.82% and a net margin of 8.80%. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. On average, equities analysts forecast that Floor & Decor Holdings Inc will post 0.95 earnings per share for the current year.
In other news, major shareholder Corporate Opportunities F. Ares sold 7,744,108 shares of Floor & Decor stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $37.00, for a total transaction of $286,531,996.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.20% of the company’s stock.
About Floor & Decor
Floor & Decor Holdings, Inc operates as a multi-channel specialty retailer of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers.
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