Balyasny Asset Management L.P. Purchases 406,958 Shares of The Middleby Co. (NASDAQ:MIDD)

Balyasny Asset Management L.P. raised its position in The Middleby Co. (NASDAQ:MIDDFree Report) by 533.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 483,214 shares of the industrial products company’s stock after acquiring an additional 406,958 shares during the period. Balyasny Asset Management L.P. owned approximately 0.90% of Middleby worth $71,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC raised its stake in Middleby by 230.1% in the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 168 shares during the last quarter. Clear Street Markets LLC acquired a new stake in shares of Middleby during the third quarter worth about $50,000. Assetmark Inc. boosted its position in Middleby by 1,158.3% in the fourth quarter. Assetmark Inc. now owns 453 shares of the industrial products company’s stock valued at $67,000 after buying an additional 417 shares during the last quarter. CWM LLC raised its position in Middleby by 80.2% during the 4th quarter. CWM LLC now owns 510 shares of the industrial products company’s stock worth $75,000 after buying an additional 227 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Middleby during the 4th quarter valued at approximately $75,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Middleby Stock Up 0.5 %

MIDD stock opened at $126.46 on Tuesday. The Middleby Co. has a 52 week low of $109.59 and a 52 week high of $161.01. The company has a quick ratio of 1.28, a current ratio of 2.40 and a debt-to-equity ratio of 0.72. The firm has a 50-day simple moving average of $138.30 and a 200-day simple moving average of $142.32. The stock has a market capitalization of $6.80 billion, a P/E ratio of 17.61 and a beta of 1.60.

Middleby (NASDAQ:MIDDGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.16). Middleby had a return on equity of 15.88% and a net margin of 9.82%. The firm had revenue of $926.90 million during the quarter, compared to analyst estimates of $979.05 million. During the same quarter in the previous year, the firm posted $2.19 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts forecast that The Middleby Co. will post 9.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MIDD shares. JPMorgan Chase & Co. cut Middleby from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $145.00 to $118.00 in a research report on Wednesday, May 22nd. Canaccord Genuity Group cut their target price on shares of Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, William Blair raised shares of Middleby to a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.43.

Read Our Latest Report on MIDD

Insider Buying and Selling

In other Middleby news, Director Chapin Sarah Palisi sold 235 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total value of $32,237.30. Following the transaction, the director now owns 7,211 shares in the company, valued at approximately $989,204.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Middleby news, Director John R. Miller III sold 2,000 shares of Middleby stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the transaction, the director now directly owns 10,931 shares of the company’s stock, valued at $1,380,803.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Chapin Sarah Palisi sold 235 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total transaction of $32,237.30. Following the sale, the director now owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.

Middleby Profile

(Free Report)

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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