Algert Global LLC Decreases Stock Holdings in Vestis Co. (NYSE:VSTS)

Algert Global LLC trimmed its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 64.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,962 shares of the company's stock after selling 176,773 shares during the quarter. Algert Global LLC owned approximately 0.08% of Vestis worth $1,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in Vestis by 445.4% in the third quarter. Barclays PLC now owns 51,981 shares of the company's stock valued at $774,000 after acquiring an additional 42,450 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Vestis by 34.1% in the 3rd quarter. Franklin Resources Inc. now owns 561,384 shares of the company's stock valued at $8,404,000 after purchasing an additional 142,854 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock valued at $71,000 after acquiring an additional 710 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Vestis by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock worth $681,000 after acquiring an additional 1,735 shares during the period. Finally, Pallas Capital Advisors LLC boosted its stake in shares of Vestis by 13.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 26,868 shares of the company's stock valued at $409,000 after buying an additional 3,287 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Price Performance

Shares of VSTS traded down $0.14 during trading hours on Tuesday, reaching $6.41. 4,168,036 shares of the company's stock traded hands, compared to its average volume of 2,146,874. The firm's 50 day simple moving average is $8.99 and its 200-day simple moving average is $12.81. Vestis Co. has a 12 month low of $5.20 and a 12 month high of $17.83. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The stock has a market cap of $844.73 million, a PE ratio of 80.14 and a beta of 1.61.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a net margin of 0.34% and a return on equity of 7.91%. The firm had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The business's revenue was down 5.7% compared to the same quarter last year. Equities analysts expect that Vestis Co. will post 0.7 EPS for the current year.

Insider Transactions at Vestis

In related news, COO William J. Seward purchased 10,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the transaction, the chief operating officer now directly owns 130,862 shares of the company's stock, valued at approximately $815,270.26. This trade represents a 8.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas A. Pertz acquired 70,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the acquisition, the director now directly owns 297,010 shares of the company's stock, valued at $1,832,551.70. The trade was a 30.84% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VSTS shares. Robert W. Baird reduced their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group lowered their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Barclays dropped their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Vestis currently has a consensus rating of "Hold" and a consensus price target of $11.75.

Vestis 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.