Builders FirstSource (BLDR) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 10,435,844 to 10,130,690 shares, with 8 days to go before the expiry. The short open interest has decreased by -2.9%, amounting to a reduction of -305,154 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 12.1% of the float of the company. The average daily volume of the stock is 1,247,606 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Builders FirstSource (NASDAQ:BLDR): The stock opened at $13.11 on Wednesday but the bulls could not build on the opening and the stock topped out at $13.12 for the day. The stock traded down to $12.82 during the day, due to lack of any buying support eventually closed down at $12.88 with a loss of -1.60% for the day. The stock had closed at $13.09 on the previous day. The total traded volume was 746,233 shares.
In a related news, The officer (Sr Vice President-Operations), of Builders Firstsource, Inc., Tolly Morris E had unloaded 50,000 shares at $12.43 per share in a transaction on August 17, 2016. The total value of transaction was $621,500. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Builders FirstSource, Inc. is a supplier and manufacturer of structural and related building products for residential new construction. The Company groups its building products and services into five product categories: Prefabricated Components, Windows & Doors, Lumber & Lumber Sheet Goods, Millwork, and Other Building Products & Services. The Companys Prefabricated Components are factory-built substitutes for job-site framing. The Windows & Doors category includes the manufacturing, assembly and distribution of windows, and the assembly and distribution of interior and exterior door units. The Lumber & Lumber Sheet Goods category includes dimensional lumber, plywood and oriented strand board (OSB) products. The Millwork category offers interior and exterior trim, columns and posts, as well as custom exterior features under the Synboard brand. The Other Building Products & Services category consists of various products, including hardware, composite materials, roofing and insulation.