Quinpario Acquisition Corp (JASN) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Quinpario Acquisition Corp (NASDAQ:JASN) from a strong-buy rating to a hold rating in a research note published on Friday, May 5th.

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. “

Quinpario Acquisition Corp (NASDAQ:JASN) traded up 4.51% during mid-day trading on Friday, hitting $1.39. The company had a trading volume of 124,149 shares. The stock has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.54. Quinpario Acquisition Corp has a 1-year low of $1.14 and a 1-year high of $4.00. The stock’s market capitalization is $36.03 million.

Quinpario Acquisition Corp (NASDAQ:JASN) last announced its quarterly earnings data on Thursday, March 2nd. The technology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.02. The firm had revenue of $158.75 million for the quarter, compared to analysts’ expectations of $152 million. Quinpario Acquisition Corp had a negative return on equity of 4.78% and a negative net margin of 10.79%. On average, analysts forecast that Quinpario Acquisition Corp will post ($0.26) earnings per share for the current year.

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In other news, CEO Brian Kobylinski acquired 30,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was bought at an average price of $1.42 per share, for a total transaction of $42,600.00. Following the transaction, the chief executive officer now owns 110,000 shares in the company, valued at $156,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have acquired 60,000 shares of company stock valued at $85,350. 23.10% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Spark Investment Management LLC boosted its position in Quinpario Acquisition Corp by 50.3% in the third quarter. Spark Investment Management LLC now owns 74,400 shares of the technology company’s stock worth $165,000 after buying an additional 24,900 shares during the period. Gabelli Funds LLC boosted its position in Quinpario Acquisition Corp 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 during the period. Gamco Investors INC. ET AL boosted its position in Quinpario Acquisition Corp 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 during the period. Renaissance Technologies LLC boosted its position in Quinpario Acquisition Corp 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 during the period. Finally, Wynnefield Capital Inc. bought a new position in Quinpario Acquisition Corp during the fourth quarter worth $7,516,000. 50.23% of the stock is currently owned by institutional investors and hedge funds.

Quinpario Acquisition Corp 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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