1,693,243 Shares in Vestis Co. (NYSE:VSTS) Purchased by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. acquired a new stake in shares of Vestis Co. (NYSE:VSTS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,693,243 shares of the company's stock, valued at approximately $25,805,000. Alyeska Investment Group L.P. owned approximately 1.29% of Vestis as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of VSTS. GAMMA Investing LLC increased its position in shares of Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock valued at $71,000 after acquiring an additional 710 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Vestis by 2.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company's stock worth $691,000 after purchasing an additional 875 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Vestis by 11.1% during the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock valued at $233,000 after purchasing an additional 1,534 shares in the last quarter. Swiss National Bank boosted its position in shares of Vestis by 0.7% during the fourth quarter. Swiss National Bank now owns 232,750 shares of the company's stock valued at $3,547,000 after buying an additional 1,700 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased 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 buying an additional 1,735 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Performance

NYSE VSTS traded up $0.02 during trading hours on Friday, hitting $6.29. 7,460,458 shares of the company's stock traded hands, compared to its average volume of 2,141,630. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. Vestis Co. has a 52 week low of $5.20 and a 52 week high of $17.83. The firm has a market capitalization of $828.68 million, a P/E ratio of 78.63 and a beta of 1.61. The business's fifty day moving average price is $9.08 and its two-hundred day moving average price is $12.87.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Douglas A. Pertz bought 70,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the purchase, the director now owns 297,010 shares in the company, valued at approximately $1,832,551.70. The trade was a 30.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.60% of the company's stock.

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.