Advantage Solutions (NASDAQ:ADV) Trading 15.3% Higher - Time to Buy?

Key Points

• Advantage Solutions Inc. shares increased by 15.3% during trading, reaching a high of $1.54 before closing at $1.55, significantly outpacing its average daily volume.
• Analysts have mixed views on the stock, with Morgan Stanley setting a price target of $2.00 while Canaccord Genuity lowered its target to $2.50 but maintained a "buy" rating.
• Institutional investors are actively trading in Advantage Solutions, with 49.82% of shares now held by these investors, indicating growing confidence in the company's prospects.

Advantage Solutions Inc. (NASDAQ:ADV - Get Free Report)'s share price shot up 15.3% on Thursday . The stock traded as high as $1.54 and last traded at $1.55. 768,062 shares were traded during trading, an increase of 25% from the average session volume of 614,664 shares. The stock had previously closed at $1.34.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ADV. Morgan Stanley set a $2.00 price objective on shares of Advantage Solutions in a research note on Wednesday, May 14th. Canaccord Genuity Group cut their price target on shares of Advantage Solutions from $3.50 to $2.50 and set a "buy" rating on the stock in a research note on Tuesday, May 13th.

Advantage Solutions Stock Performance

The stock has a market capitalization of $611.32 million, a price-to-earnings ratio of -2.01 and a beta of 2.07. The company's fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.66. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 2.39.

Insider Activity at Advantage Solutions

In other Advantage Solutions news, Director James M. Kilts purchased 26,523 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were acquired at an average cost of $1.21 per share, for a total transaction of $32,092.83. Following the completion of the purchase, the director owned 1,120,567 shares of the company's stock, valued at approximately $1,355,886.07. The trade was a 2.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 176,631 shares of company stock valued at $217,016 in the last 90 days. Corporate insiders own 7.90% of the company's stock.

Hedge Funds Weigh In On Advantage Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Wealth Management LLC bought a new position in shares of Advantage Solutions in the first quarter worth about $25,000. Creative Planning bought a new position in Advantage Solutions in the 2nd quarter valued at approximately $26,000. Humankind Investments LLC bought a new position in Advantage Solutions in the 4th quarter valued at approximately $31,000. Dynamic Technology Lab Private Ltd bought a new position in Advantage Solutions in the 4th quarter valued at approximately $33,000. Finally, Forum Financial Management LP bought a new position in Advantage Solutions in the 4th quarter valued at approximately $34,000. 49.82% of the stock is currently owned by institutional investors and hedge funds.

Advantage Solutions Company Profile

Advantage Solutions Inc provides business solutions to consumer goods manufacturers and retailers in North America and internationally. It operates in two segments, Sales and Marketing. The Sales segment offers brand-centric services, such as headquarter relationship management; analytics, insights, and intelligence; and brand-centric merchandising services.