Vestis Corporation $VSTS Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in shares of Vestis Corporation (NYSE:VSTS) by 71.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 134,900 shares of the company’s stock after selling 342,105 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Vestis were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VSTS. Alberta Investment Management Corp grew its position in shares of Vestis by 57.7% in the second quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock valued at $55,535,000 after purchasing an additional 3,547,000 shares during the period. Ceera Investments LLC acquired a new stake in Vestis in the 2nd quarter worth about $3,680,000. Geode Capital Management LLC grew its holdings in Vestis by 45.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,731,391 shares of the company’s stock valued at $15,652,000 after buying an additional 851,208 shares during the period. Private Management Group Inc. increased its stake in shares of Vestis by 37.5% during the 2nd quarter. Private Management Group Inc. now owns 2,439,718 shares of the company’s stock valued at $13,980,000 after acquiring an additional 665,376 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. purchased a new position in shares of Vestis during the 2nd quarter worth about $892,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Vestis news, Director Keith A. Meister bought 209,842 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average cost of $6.79 per share, with a total value of $1,424,827.18. Following the completion of the transaction, the director owned 19,813,963 shares in the company, valued at $134,536,808.77. The trade was a 1.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas A. Pertz purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was acquired at an average price of $6.90 per share, for a total transaction of $103,500.00. Following the purchase, the director owned 322,010 shares of the company’s stock, valued at approximately $2,221,869. This represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 1,205,810 shares of company stock worth $8,138,302. Corporate insiders own 15.70% of the company’s stock.

Vestis Price Performance

VSTS stock opened at $6.76 on Wednesday. The firm has a market cap of $891.32 million, a P/E ratio of -21.79 and a beta of 0.73. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.64 and a current ratio of 2.08. Vestis Corporation has a 1 year low of $3.98 and a 1 year high of $13.90. The stock has a 50-day simple moving average of $6.75 and a 200-day simple moving average of $5.63.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Monday, December 1st. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $712.01 million during the quarter, compared to analysts’ expectations of $690.65 million. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.Vestis’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. On average, equities analysts predict that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VSTS shares. Robert W. Baird boosted their target price on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research note on Wednesday, January 21st. The Goldman Sachs Group lowered Vestis from a “neutral” rating to a “sell” rating and cut their target price for the stock from $6.30 to $5.30 in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. lifted their target price on Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Vestis currently has an average rating of “Strong Sell” and a consensus target price of $5.70.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.