Traeger, Inc. (NYSE:COOK) CEO Jeremy Andrus Buys 250,000 Shares

Traeger, Inc. (NYSE:COOK) CEO Jeremy Andrus acquired 250,000 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost of $1.38 per share, with a total value of $345,000.00. Following the acquisition, the chief executive officer now directly owns 14,052,354 shares in the company, valued at approximately $19,392,248.52. This trade represents a 1.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Jeremy Andrus also recently made the following trade(s):

• On Friday, June 6th, Jeremy Andrus bought 176,425 shares of Traeger stock. The stock was purchased at an average price of $1.46 per share, with a total value of $257,580.50.
• On Wednesday, June 4th, Jeremy Andrus bought 300,762 shares of Traeger stock. The stock was purchased at an average price of $1.34 per share, with a total value of $403,021.08.
• On Monday, June 2nd, Jeremy Andrus bought 3,200 shares of Traeger stock. The stock was purchased at an average price of $1.37 per share, with a total value of $4,384.00.

Traeger Price Performance

COOK stock opened at $1.48 on Friday. The company has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $2.09. The stock has a market cap of $200.14 million, a price-to-earnings ratio of -3.69 and a beta of 1.38. Traeger, Inc. has a 1 year low of $1.28 and a 1 year high of $3.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08.

Hedge Funds Weigh In On Traeger

Institutional investors have recently added to or reduced their stakes in the stock. Graham Capital Management L.P. acquired a new position in Traeger during the 4th quarter worth approximately $37,000. Two Sigma Advisers LP increased its position in Traeger by 202.8% in the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after acquiring an additional 21,500 shares during the period. Two Sigma Securities LLC acquired a new position in Traeger in the 4th quarter valued at approximately $78,000. Bank of America Corp DE increased its position in Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock valued at $80,000 after acquiring an additional 8,933 shares during the period. Finally, Deutsche Bank AG increased its position in Traeger by 231.8% in the 4th quarter. Deutsche Bank AG now owns 41,344 shares of the company’s stock valued at $99,000 after acquiring an additional 28,883 shares during the period. 46.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Traeger from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Friday, March 7th. Piper Sandler dropped their target price on shares of Traeger from $2.50 to $2.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Canaccord Genuity Group dropped their target price on shares of Traeger from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Robert W. Baird dropped their target price on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, B. Riley restated a “buy” rating and issued a $3.00 target price (down from $4.00) on shares of Traeger in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Traeger has a consensus rating of “Hold” and a consensus price target of $2.44.

About Traeger

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.