Advantage Solutions (NASDAQ:ADV) Shares Down 8.2% - Here's What Happened

Advantage Solutions Inc. (NASDAQ:ADV - Get Free Report) traded down 8.2% during mid-day trading on Thursday . The company traded as low as $1.62 and last traded at $1.63. 318,944 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 610,865 shares. The stock had previously closed at $1.77.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley set a $2.00 target price on Advantage Solutions in a research report on Wednesday, May 14th. Canaccord Genuity Group lowered their target price on shares of Advantage Solutions from $3.50 to $2.50 and set a "buy" rating for the company in a research note on Tuesday, May 13th.

Advantage Solutions Stock Down 4.4%

The stock has a market capitalization of $496.19 million, a PE ratio of -1.32 and a beta of 2.04. The firm's fifty day moving average is $1.43 and its 200-day moving average is $1.73. 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 Transactions at Advantage Solutions

In other Advantage Solutions news, Director James M. Kilts purchased 26,523 shares of the stock in a transaction dated 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 transaction, the director directly owned 1,120,567 shares of the company's stock, valued at $1,355,886.07. This trade represents a 2.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought 176,631 shares of company stock valued at $217,016 over the last three months. Company insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Advantage Solutions

Hedge funds have recently made changes to their positions in the business. NorthRock Partners LLC increased its position in shares of Advantage Solutions by 114.1% in the 2nd quarter. NorthRock Partners LLC now owns 186,245 shares of the company's stock worth $244,000 after purchasing an additional 99,243 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Advantage Solutions by 28.5% during the second quarter. Inspire Investing LLC now owns 297,843 shares of the company's stock valued at $393,000 after acquiring an additional 66,018 shares during the period. Strs Ohio purchased a new position in Advantage Solutions during the first quarter valued at approximately $117,000. Empowered Funds LLC grew its position in Advantage Solutions by 4.0% in the first quarter. Empowered Funds LLC now owns 1,769,040 shares of the company's stock worth $2,671,000 after acquiring an additional 68,177 shares in the last quarter. Finally, Contrarian Capital Management L.L.C. boosted its holdings in shares of Advantage Solutions by 13.5% during the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,451,140 shares of the company's stock worth $2,191,000 after buying an additional 173,000 shares during the period. Hedge funds and other institutional investors own 49.82% of the company's stock.

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.