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Gendell Unloads more of Patrick Stock

patrick_ind_logoMHProNews has learned Jeffrey Gendell continues to sell his shares in Patrick Industries, Inc. (NASDAQ:PATK) as he did May 25, and June 8, 2015. Most recently he sold another 3,748 shares at $37.20 each for a net of $139,503, according to octafinance. In total he has sold 72,783 shares for a net of $3,418,404 and continues to hold 2.58 million shares, 16.59 percent of the market cap.

The stock has decreased 7.75 percent in the last 200 days leading octafinance to rate it a “sell.” Neumier Poma Investment counsel maintains 3.46 percent of Patrick stock, 332,555 shares, while pacific Ridge Capital Partners LLC has 1.97 percent of the stock, 105,675 shares. In addition Spitfire Capital LLC has 3.77 percent of the portfolio while RK Capital Management LLC possesses 264,874 shares.

Patrick Industries, Inc. is a component supplier to the manufactured housing and recreational vehicle industries, as well as to other industrial markets. ##

(Image credit: Patrick Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

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