Patrick Industries Inc (NASDAQ:PATK) Stock Is Shorted More

August 9, 2018 - By Robert Shackelford

Investors sentiment decreased to 1.38 in 2018 Q1. Its down 5.88, from 7.26 in 2017Q4. It dropped, as 18 investors sold Patrick Industries, Inc. shares while 60 reduced holdings. 39 funds opened positions while 69 raised stakes. 22.78 million shares or 48.56% less from 44.28 million shares in 2017Q4 were reported.
Prtn Ltd Llc holds 0.13% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK) for 61,289 shares. Moreover, Supplemental Annuity Collective Trust Of Nj has 0.49% invested in Patrick Industries, Inc. (NASDAQ:PATK) for 18,000 shares. Victory holds 0.03% or 186,884 shares in its portfolio. Ls Invest Advsr Ltd Liability holds 0.01% or 2,832 shares. Virtu Ltd Liability Com has invested 0.01% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK). Sei, Pennsylvania-based fund reported 3,374 shares. Signaturefd Limited Liability has 0% invested in Patrick Industries, Inc. (NASDAQ:PATK) for 39 shares. Federated Invsts Pa has invested 0% in Patrick Industries, Inc. (NASDAQ:PATK). Hsbc Public Limited Liability Corporation reported 0% in Patrick Industries, Inc. (NASDAQ:PATK). Glenmede Tru Co Na holds 0% of its portfolio in Patrick Industries, Inc. (NASDAQ:PATK) for 44 shares. Prescott Capital Ltd Liability Co owns 18,330 shares or 0.25% of their US portfolio. Grandeur Peak, a Us-based fund reported 11,437 shares. Prudential reported 198,323 shares. Morgan Stanley invested in 95,151 shares or 0% of the stock. Manufacturers Life Insurance Communications The owns 60,995 shares or 0% of their US portfolio.

Since February 21, 2018, it had 3 insider purchases, and 3 sales for $485,268 activity. $181,095 worth of Patrick Industries, Inc. (NASDAQ:PATK) shares were sold by WELLS WALTER E. 814 shares were sold by Boone Joshua A, worth $54,644 on Friday, March 16. On Monday, March 12 Blosser Courtney sold $134,648 worth of Patrick Industries, Inc. (NASDAQ:PATK) or 2,000 shares.

The stock of Patrick Industries Inc (NASDAQ:PATK) registered an increase of 33.41% in short interest. PATK’s total short interest was 1.93 million shares in August as published by FINRA. Its up 33.41% from 1.45M shares, reported previously. With 384,800 shares average volume, it will take short sellers 5 days to cover their PATK’s short positions.

The stock increased 0.25% or $0.15 during the last trading session, reaching $60.5. About 124,497 shares traded. Patrick Industries, Inc. (NASDAQ:PATK) has risen 32.04% since August 9, 2017 and is uptrending. It has outperformed by 19.47% the S&P500.

Patrick Industries, Inc. manufactures and distributes building products and materials for the recreational vehicle, manufactured housing, and industrial markets in the United States and Canada. The company has market cap of $1.50 billion. The Company’s Manufacturing segment makes and fabricates decorative vinyl and paper laminated panels; fabricated aluminum products; wrapped vinyl, paper, and hardwood profile moldings; solid surface, granite, and quartz countertops; cabinet doors and components; hardwood furniture; fiberglass bath and shower surrounds and fixtures; fiberglass marine helms; fiberglass and plastic component products; slide-out trim and fascia; interior passage doors; RV paintings; softwoods lumber; simulated wood and stone products; slotwall panels and components; and others. It has a 13.47 P/E ratio. It also offers custom fabrication, edge-banding, drilling, boring, and cut-to-size services.

Patrick Industries, Inc. (NASDAQ:PATK) Ratings Coverage

Among 3 analysts covering Patrick Industries (NASDAQ:PATK), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Patrick Industries had 3 analyst reports since February 15, 2018 according to SRatingsIntel. Bank of America maintained it with “Buy” rating and $85 target in Thursday, March 15 report. Robert W. Baird maintained it with “Buy” rating and $76.0 target in Thursday, February 15 report. The firm has “Hold” rating given on Tuesday, April 10 by Wells Fargo.

More news for Patrick Industries, Inc. (NASDAQ:PATK) were recently published by: Globenewswire.com, which released: “Market Trends Toward New Normal in Patrick Industries, Flowers Foods, Rockwell Collins, LKQ, Heidrick & Struggles …” on August 01, 2018. Seekingalpha.com‘s article titled: “Patrick Industries Inc. Is A Buy” and published on July 13, 2018 is yet another important article.

Patrick Industries, Inc. (NASDAQ:PATK) Institutional Positions Chart

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