Oaktree Capital Management LP Buys New Position in The Simply Good Foods Company $SMPL

Oaktree Capital Management LP purchased a new stake in The Simply Good Foods Company (NASDAQ:SMPL) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,128,889 shares of the financial services provider’s stock, valued at approximately $16,200,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Simply Good Foods by 9.0% in the 1st quarter. Royal Bank of Canada now owns 71,023 shares of the financial services provider’s stock worth $2,448,000 after purchasing an additional 5,893 shares during the period. AQR Capital Management LLC lifted its position in Simply Good Foods by 3.4% during the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock valued at $656,000 after buying an additional 617 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Simply Good Foods by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,819 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 2,850 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Simply Good Foods in the 1st quarter worth about $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Simply Good Foods by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 224,229 shares of the financial services provider’s stock valued at $7,734,000 after acquiring an additional 21,696 shares during the period. 88.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the acquisition, the director directly owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.76% of the stock is currently owned by company insiders.

Simply Good Foods Stock Performance

Shares of SMPL stock opened at $10.25 on Thursday. The company has a 50 day moving average price of $12.08 and a 200-day moving average price of $14.23. The Simply Good Foods Company has a 52 week low of $10.12 and a 52 week high of $31.82. The firm has a market capitalization of $906.72 million, a PE ratio of -4.72 and a beta of 0.13. The company has a quick ratio of 3.10, a current ratio of 4.80 and a debt-to-equity ratio of 0.28.

Simply Good Foods (NASDAQ:SMPL) last issued its earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.07. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The company had revenue of $356.98 million for the quarter, compared to analysts’ expectations of $332.99 million. During the same quarter last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on SMPL. UBS Group set a $15.00 price objective on Simply Good Foods in a research report on Friday, July 10th. Stephens reiterated an “equal weight” rating and issued a $14.00 price target (down from $24.00) on shares of Simply Good Foods in a research note on Friday, April 10th. Stifel Nicolaus reduced their price objective on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 10th. DA Davidson decreased their target price on shares of Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Finally, Jefferies Financial Group set a $17.00 price target on shares of Simply Good Foods in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.20.

Simply Good Foods Profile

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.