Beacon Roofing Supply (BECN) : 4 days before expiry, shorts in Beacon Roofing Supply (BECN) have reduced from 3,178,078 on Jul 29, 2016, to 3,051,590 on August 15, 2016. On an average, 678,418 shares are traded on the exchange. The outstanding bearish positions are equal to 6% of the float. Short sellers have covered -126,488 shares, a reduction of -4%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Beacon Roofing Supply (NASDAQ:BECN): The stock opened at $47.06 on Wednesday but the bulls could not build on the opening and the stock topped out at $47.26 for the day. The stock traded down to $46.54 during the day, due to lack of any buying support eventually closed down at $46.66 with a loss of -1.08% for the day. The stock had closed at $47.17 on the previous day. The total traded volume was 236,498 shares.
In a related news, Mclaughlin Robert M, director of Beacon Roofing Supply Inc, had purchased 6,000 shares on August 9, 2016. The total value of the transaction was $274,740. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Beacon Roofing Supply, Inc. is engaged in distributing residential and non-residential roofing materials in the United States and Canada. The Company also distributes other complementary building materials, including siding, windows, specialty lumber products and waterproofing systems for residential and nonresidential building exteriors. As of September 30, 2013, the Company operated 236 branches in 39 states and six Canadian provinces, carrying up to 11,000 stock keeping units (SKUs). It is a distributor of roofing materials in metropolitan markets in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada. The Companys customer base consists of more than 47,000 contractors, home builders, building owners, and other resellers primarily in the Northeast, Mid-Atlantic, Midwest, Central Plains, West, South and Southwest regions of the United States and across Canada.