Jason Industries Inc. (JASN) Trading Up 3.9% Following Insider Buying Activity
Jason Industries Inc. (NASDAQ:JASN)’s share price rose 3.9% on Tuesday following insider buying activity. The stock traded as high as $2.52 and last traded at $2.40, with a volume of 88,465 shares changing hands. The stock had previously closed at $2.31.
Specifically, major shareholder Alex Mitchell sold 200,686 shares of Jason Industries stock in a transaction on Monday, August 8th. The shares were sold at an average price of $2.84, for a total value of $569,948.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Wynnefield Partners Small Cap acquired 15,330 shares of the company’s stock in a transaction on Saturday, December 31st. The stock was acquired at an average price of $3.42 per share, for a total transaction of $52,428.60. The disclosure for this purchase can be found here. 23.10% of the stock is currently owned by company insiders.
JASN has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of Jason Industries from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 5th. Zacks Investment Research lowered shares of Jason Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th.
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The stock has a 50-day moving average price of $2.35 and a 200 day moving average price of $3.39. The stock’s market cap is $53.30 million.
Jason Industries (NASDAQ:JASN) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.14. Jason Industries had a negative return on equity of 2.17% and a negative net margin of 10.86%. Equities research analysts predict that Jason Industries Inc. will post ($0.11) EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Heartland Advisors Inc. increased its position in Jason Industries by 20.2% in the second quarter. Heartland Advisors Inc. now owns 1,201,900 shares of the company’s stock worth $4,339,000 after buying an additional 201,900 shares during the last quarter. Credit Agricole S A increased its position in Jason Industries by 1.6% in the first quarter. Credit Agricole S A now owns 137,844 shares of the company’s stock worth $482,000 after buying an additional 2,126 shares during the last quarter. Lorber David A acquired a new position in Jason Industries during the first quarter worth about $129,000. Gamco Investors INC. ET AL increased its position in Jason Industries by 0.6% in the second quarter. Gamco Investors INC. ET AL now owns 35,500 shares of the company’s stock worth $128,000 after buying an additional 200 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Jason Industries during the first quarter worth about $117,000. Institutional investors own 58.60% of the company’s stock.
About Jason Industries
Jason Industries is the parent company to a global family of manufacturing leaders within the seating, finishing, components and automotive acoustics markets, including Assembled Products (Buffalo Grove, Ill.), Janesville Acoustics (Southfield, Mich.), Metalex (Libertyville, Ill.), Milsco (Milwaukee, Wis.), Osborn (Richmond, Indiana and Burgwald, Germany) and Sealeze (Richmond, Va.).
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