Kortright Capital Partners Lp Lowers stake in PGT (PGTI)

PGT (PGTI) : Kortright Capital Partners Lp reduced its stake in PGT by 9.22% during the most recent quarter end. The investment management company now holds a total of 539,876 shares of PGT which is valued at $5.2 Million after selling 54,824 shares in PGT , the firm said in a disclosure report filed with the SEC on May 13, 2016.PGT makes up approximately 8.27% of Kortright Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates boosted its stake in PGTI in the latest quarter, The investment management firm added 44,837 additional shares and now holds a total of 85,100 shares of PGT which is valued at $816,960. Mazama Capital Management Inc sold out all of its stake in PGTI during the most recent quarter. The investment firm sold 83,519 shares of PGTI which is valued $801,782. Norges Bank sold out all of its stake in PGTI during the most recent quarter. The investment firm sold 212,318 shares of PGTI which is valued $2 Million. Alps Advisors Inc added PGTI to its portfolio by purchasing 46,844 company shares during the most recent quarter which is valued at $449,702.

PGT closed down -0.305 points or -2.82% at $10.495 with 3,54,702 shares getting traded on Wednesday. Post opening the session at $10.87, the shares hit an intraday low of $10.45 and an intraday high of $10.89 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, PGT reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.08. The company had revenue of $100.20 million for the quarter, compared to analysts expectations of $99.17 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on PGT. Gabelli & Co Initiated PGT on May 9, 2016 to “Buy”, Price Target of the shares are set at $15.Company shares were Reiterated by Dougherty & Company on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12.50 .PGT was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Mar 2, 2016.

PGT Inc. is a manufacturer and supplier of residential impact-resistant windows and doors. The Company’s impact-resistant products are marketed under WinGuard PremierVue PGT Architectural Systems and PGT Commercial Storefront System brand names combine heavy-duty aluminum or vinyl frames with laminated glass to provide protection from hurricane-force winds and wind-borne debris by maintaining their structural integrity and preventing penetration by impacting objects. The Company also manufactures non-impact resistant products in both aluminum and vinyl frames including its SpectraGuard line of products. The Company conducts business in the Southeastern United States Gulf Coast Coastal mid-Atlantic the Caribbean Central America and Canada.

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