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In recent transactions reported by Traeger, Inc. (NYSE:COOK), CEO Jeremy Andrus made significant stock purchases amid the company’s challenging market position, with the stock down over 53% in the past six months. On June 4th, Andrus acquired 300,762 shares of common stock at a weighted average price of approximately $1.3445 per share. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value, suggesting potential upside from current levels. The following day, he purchased an additional 250,000 shares, with prices ranging from $1.34 to $1.41 per share. On June 6th, he further acquired 176,425 shares at prices between $1.375 and $1.53 per share. Altogether, these purchases amount to a total investment of approximately $1,006,181 in the company, which currently has a market capitalization of $200 million.
Additionally, Andrus made several gift transactions involving shares transferred to his minor children and JK Andrus Investments, LLC. These transactions, however, were conducted at no cost. Following these activities, Andrus’s direct ownership in Traeger stands at 14,228,779 shares. While the company faces near-term challenges, analysts expect it to return to profitability this year, with comprehensive analysis available through InvestingPro’s detailed research reports.
In other recent news, Traeger Inc. reported its first-quarter 2025 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $0.05, compared to the forecast of $0.04. Despite this earnings beat, the company’s revenue for the quarter was $143 million, which represented a slight decline of 1% year-over-year. The company saw a notable increase in grill sales by 13%, while the accessories segment experienced a significant drop of 27%. Traeger has also announced a restructuring plan aimed at enhancing profitability and cash flow, which includes workforce reductions and centralization efforts to streamline operations. In terms of analyst actions, Telsey Advisory Group adjusted its 12-month price target for Traeger from $2.50 to $2.00, maintaining a Market Perform rating due to potential industry headwinds and tariff impacts. Additionally, S&P Global Ratings revised Traeger’s outlook from stable to negative, citing increased exposure to tariff-related challenges. The company is actively working on mitigation strategies, including price increases and cost management, to address these tariff impacts. Lastly, during its annual meeting, Traeger shareholders elected directors and ratified Ernst & Young LLP as the independent auditors for the fiscal year 2025.
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