Floor & Decor Holdings, Inc. (NYSE:FND) Major Shareholder Sells $260,752,068.50 in Stock

Floor & Decor Holdings, Inc. (NYSE:FND) major shareholder Corporate Opportunities F. Ares sold 6,772,781 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.50, for a total value of $260,752,068.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Floor & Decor Holdings, Inc. (NYSE FND) traded up 0.29% during mid-day trading on Wednesday, hitting $35.04. The stock had a trading volume of 399,398 shares. The stock has a 50-day moving average price of $37.30 and a 200 day moving average price of $37.56. Floor & Decor Holdings, Inc. has a 52 week low of $5.69 and a 52 week high of $46.95. The stock has a market cap of $3.30 billion and a P/E ratio of 51.61.

Floor & Decor Holdings (NYSE:FND) last posted its earnings results on Thursday, July 27th. The company reported $0.20 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.20. The business had revenue of $344 million during the quarter, compared to the consensus estimate of $343.73 million. Floor & Decor Holdings’s quarterly revenue was up 29.4% compared to the same quarter last year. On average, equities analysts forecast that Floor & Decor Holdings, Inc. will post $0.60 EPS for the current fiscal year.

FND has been the topic of a number of recent analyst reports. BTIG Research reissued a “buy” rating and set a $42.00 price target on shares of Floor & Decor Holdings in a research note on Wednesday, May 10th. Credit Suisse Group set a $43.00 target price on Floor & Decor Holdings and gave the stock a “buy” rating in a research report on Sunday, May 28th. Zacks Investment Research raised Floor & Decor Holdings from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Monday, July 24th. Jefferies Group LLC assumed coverage on Floor & Decor Holdings in a research report on Monday, May 22nd. They issued a “hold” rating and a $38.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on Floor & Decor Holdings in a research report on Friday, May 26th. They issued a “market perform” rating and a $40.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $41.33.

Institutional investors have recently added to or reduced their stakes in the stock. Spark Investment Management LLC purchased a new position in Floor & Decor Holdings during the second quarter worth approximately $2,100,000. Fisher Asset Management LLC purchased a new position in Floor & Decor Holdings during the second quarter worth approximately $788,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Floor & Decor Holdings during the second quarter worth approximately $79,390,000. Russell Investments Group Ltd. purchased a new position in Floor & Decor Holdings during the second quarter worth approximately $662,000. Finally, JPMorgan Chase & Co. purchased a new position in Floor & Decor Holdings during the second quarter worth approximately $4,368,000. Hedge funds and other institutional investors own 2.24% of the company’s stock.

About Floor & Decor Holdings

Floor & Decor Holdings, Inc, formerly FDO Holdings, Inc, is a retailer of hard surface flooring and related accessories. The Company retails its products such as tile, stone, wood, marble, glass and decoratives. The Company has 72 stores across 17 states in the United States. The Company provides its products to customers, including professional installers and commercial businesses (Pro), Do it Yourself customers (DIY) and customers who buy the products for professional installation (Buy it Yourself or BIY).