Zacks Investment Research Lowers Jason Industries, Inc. (NASDAQ:JASN) to Hold

Zacks Investment Research cut shares of Jason Industries, Inc. (NASDAQ:JASN) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Jason Industries, Inc. engages in the manufacturing of Finishing, Seating, Components, and Automotive Acoustics. It produces finishing products, including industrial brushes, buffing wheels, and buffing compounds; supplies seating solutions to equipment manufacturers in the motorcycle, lawn and turf care, industrial, agricultural, construction, and power sports end markets, as well as original equipment manufacturer seating for the heavyweight motorcycles; manufactures engineered non-woven, fiber-based acoustical products; manufactures stamped, formed, expanded, and perforated metal components and subassemblies. Jason Industries, Inc. is headquartered in Milwaukee, Wisconsin. “

Shares of Jason Industries (NASDAQ:JASN) remained flat at $1.27 on Wednesday. 14,002 shares of the stock were exchanged. The firm’s 50 day moving average price is $1.35 and its 200 day moving average price is $1.46. Jason Industries has a 12-month low of $1.14 and a 12-month high of $3.90. The company’s market cap is $32.92 million.

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In other Jason Industries news, major shareholder Wynnefield Partners Small Cap purchased 425,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were bought at an average cost of $1.35 per share, for a total transaction of $573,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders acquired 455,000 shares of company stock worth $616,500. 20.00% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL boosted its stake in Jason Industries by 167.7% in the first quarter. Gamco Investors INC. ET AL now owns 106,000 shares of the technology company’s stock worth $157,000 after buying an additional 66,400 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Jason Industries by 146.0% in the fourth quarter. Renaissance Technologies LLC now owns 135,305 shares of the technology company’s stock worth $244,000 after buying an additional 80,305 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in Jason Industries by 25.9% in the fourth quarter. Gabelli Funds LLC now owns 242,885 shares of the technology company’s stock worth $437,000 after buying an additional 50,000 shares in the last quarter. Institutional investors own 38.68% of the company’s stock.

Jason Industries Company Profile

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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