220,791 Shares in Vestis Co. (NYSE:VSTS) Bought by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new position in shares of Vestis Co. (NYSE:VSTS - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 220,791 shares of the company's stock, valued at approximately $3,364,000. Neo Ivy Capital Management owned about 0.17% of Vestis at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in VSTS. Merit Financial Group LLC purchased a new stake in shares of Vestis during the 4th quarter worth $234,000. Pacer Advisors Inc. purchased a new stake in shares of Vestis during the 4th quarter worth $210,766,000. Spire Wealth Management purchased a new stake in shares of Vestis during the 4th quarter worth $29,000. Savant Capital LLC increased its position in Vestis by 16.1% during the 4th quarter. Savant Capital LLC now owns 74,292 shares of the company's stock valued at $1,132,000 after buying an additional 10,323 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Vestis by 3.2% during the 4th quarter. Rhumbline Advisers now owns 289,052 shares of the company's stock valued at $4,405,000 after buying an additional 9,076 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Vestis

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Robert W. Baird reduced their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. The Goldman Sachs Group cut their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Barclays cut their price objective on Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $11.75.

Vestis Price Performance

VSTS stock opened at $5.75 on Friday. 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 company has a market capitalization of $757.75 million, a PE ratio of 71.88 and a beta of 1.61. Vestis Co. has a 12-month low of $5.20 and a 12-month high of $17.83. The business's fifty day moving average price is $8.19 and its 200 day moving average price is $12.39.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.