Brightline Capital Management LLC Acquires 20,000 Shares of MasterBrand, Inc. (NYSE:MBC)

Brightline Capital Management LLC grew its holdings in shares of MasterBrand, Inc. (NYSE:MBC) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,005,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. MasterBrand comprises approximately 7.9% of Brightline Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Brightline Capital Management LLC’s holdings in MasterBrand were worth $18,633,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in MasterBrand in the second quarter valued at about $36,000. GAMMA Investing LLC raised its position in shares of MasterBrand by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,814 shares of the company’s stock valued at $52,000 after purchasing an additional 890 shares during the last quarter. nVerses Capital LLC acquired a new stake in MasterBrand in the 2nd quarter worth approximately $75,000. U.S. Capital Wealth Advisors LLC purchased a new stake in MasterBrand during the 2nd quarter worth approximately $161,000. Finally, Optimum Investment Advisors increased its stake in MasterBrand by 1,700.0% during the 3rd quarter. Optimum Investment Advisors now owns 9,000 shares of the company’s stock valued at $167,000 after purchasing an additional 8,500 shares in the last quarter. Institutional investors and hedge funds own 87.32% of the company’s stock.

Insider Buying and Selling at MasterBrand

In other news, CAO Mark A. Young sold 4,715 shares of MasterBrand stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $16.33, for a total transaction of $76,995.95. Following the completion of the transaction, the chief accounting officer now directly owns 45,148 shares of the company’s stock, valued at $737,266.84. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann F. Hackett sold 17,589 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction of $280,544.55. Following the completion of the transaction, the director now owns 45,520 shares of the company’s stock, valued at approximately $726,044. This represents a 27.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,806 shares of company stock worth $365,567. Insiders own 1.38% of the company’s stock.

MasterBrand Stock Performance

MBC traded up $0.34 during trading on Wednesday, reaching $17.60. 9,728 shares of the company’s stock were exchanged, compared to its average volume of 918,180. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.82 and a quick ratio of 1.02. MasterBrand, Inc. has a 1 year low of $13.16 and a 1 year high of $20.67. The company’s fifty day simple moving average is $17.82 and its 200-day simple moving average is $16.58. The stock has a market capitalization of $2.24 billion, a P/E ratio of 15.14 and a beta of 1.53.

MasterBrand (NYSE:MBC) last issued its earnings results on Tuesday, November 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $718.10 million during the quarter. MasterBrand had a net margin of 5.46% and a return on equity of 15.51%.

Analyst Upgrades and Downgrades

Separately, Loop Capital lifted their price objective on shares of MasterBrand from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th.

MasterBrand Company Profile

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.