Hussman Strategic Advisors Inc. Buys New Position in The Simply Good Foods Company $SMPL

Hussman Strategic Advisors Inc. purchased a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the third quarter, Holdings Channel reports. The firm purchased 84,000 shares of the financial services provider’s stock, valued at approximately $2,085,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in Simply Good Foods in the 2nd quarter valued at $612,000. Econ Financial Services Corp acquired a new position in Simply Good Foods in the second quarter valued at $830,000. Thornburg Investment Management Inc. purchased a new stake in shares of Simply Good Foods in the second quarter valued at about $8,238,000. Savoir Faire Capital Management L.P. boosted its stake in shares of Simply Good Foods by 96.8% during the third quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock worth $3,623,000 after buying an additional 71,773 shares during the period. Finally, Norges Bank purchased a new position in shares of Simply Good Foods during the second quarter worth about $36,419,000. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michael L. Clawson purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the acquisition, the insider directly owned 37,620 shares in the company, valued at approximately $752,400. The trade was a 15.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Timothy Allen Matthews sold 5,859 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $19.47, for a total value of $114,074.73. Following the completion of the transaction, the chief accounting officer directly owned 18,065 shares of the company’s stock, valued at $351,725.55. The trade was a 24.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SMPL has been the subject of several analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Simply Good Foods in a research note on Friday, January 9th. Sanford C. Bernstein reissued an “outperform” rating on shares of Simply Good Foods in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $22.00 price target on shares of Simply Good Foods in a research note on Monday, December 15th. Mizuho set a $30.00 price objective on shares of Simply Good Foods in a research report on Thursday, January 15th. Finally, Jefferies Financial Group cut their price objective on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.67.

Simply Good Foods Trading Down 3.0%

NASDAQ:SMPL opened at $19.60 on Wednesday. The Simply Good Foods Company has a 1 year low of $18.45 and a 1 year high of $39.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.24 and a current ratio of 5.01. The stock has a fifty day moving average price of $19.82 and a two-hundred day moving average price of $24.09. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.63 and a beta of 0.27.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, January 8th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The company had revenue of $340.20 million for the quarter, compared to analyst estimates of $337.64 million. Simply Good Foods had a net margin of 6.26% and a return on equity of 9.56%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. As a group, sell-side analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

About Simply Good Foods

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.