Cubist Systematic Strategies LLC Invests $4.78 Million in Vestis Corporation $VSTS

Key Points

• Cubist Systematic Strategies LLC acquired 482,488 shares of Vestis Corporation ($VSTS), valued at approximately $4.77 million, representing 0.37% ownership of the company.
• Analysts have issued mixed ratings for Vestis, with Barclays and JPMorgan cutting their price targets and assigning "underweight" ratings, while Wall Street Zen upgraded the stock from "sell" to "hold."
• Vestis reported a negative net margin of 1.11% and a decline in year-over-year revenue by 3.5%, with earnings per share meeting expectations at $0.05.

Cubist Systematic Strategies LLC purchased a new stake in shares of Vestis Corporation (NYSE:VSTS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 482,488 shares of the company's stock, valued at approximately $4,777,000. Cubist Systematic Strategies LLC owned approximately 0.37% of Vestis at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in VSTS. Nomura Holdings Inc. grew its holdings in shares of Vestis by 80.0% during the first quarter. Nomura Holdings Inc. now owns 27,267 shares of the company's stock valued at $270,000 after buying an additional 12,117 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of Vestis by 10.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company's stock worth $183,000 after acquiring an additional 1,753 shares in the last quarter. Eisler Capital Management Ltd. boosted its holdings in Vestis by 702.0% during the first quarter. Eisler Capital Management Ltd. now owns 100,245 shares of the company's stock worth $992,000 after purchasing an additional 87,745 shares during the last quarter. Ieq Capital LLC grew its holdings in shares of Vestis by 31.0% in the first quarter. Ieq Capital LLC now owns 210,525 shares of the company's stock valued at $2,084,000 after acquiring an additional 49,854 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Vestis by 22.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 55,625 shares of the company's stock valued at $551,000 after purchasing an additional 10,275 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on VSTS shares. JPMorgan Chase & Co. lowered their price target on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Wall Street Zen raised shares of Vestis from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Vestis presently has a consensus rating of "Reduce" and an average price target of $9.13.

Vestis Trading Down 3.0%

Shares of Vestis stock traded down $0.13 during trading on Wednesday, reaching $4.06. The company's stock had a trading volume of 1,803,250 shares, compared to its average volume of 1,699,584. The company has a quick ratio of 1.42, a current ratio of 1.84 and a debt-to-equity ratio of 1.45. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $17.83. The firm's 50-day moving average is $5.35 and its two-hundred day moving average is $7.15. The company has a market cap of $534.61 million, a price-to-earnings ratio of -17.63 and a beta of 0.97.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The company had revenue of $673.80 million for the quarter, compared to analysts' expectations of $673.65 million. During the same quarter last year, the company earned $0.16 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Vestis Corporation will post 0.7 earnings per share 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.