90,502 Shares of Advantage Solutions Inc. $ADV Bought by State Street Corp

Key Points

• State Street Corp acquired 90,502 shares of Advantage Solutions in the second quarter, worth approximately $3.9 million and representing about 0.71% of the company.
• Advantage Solutions reported a substantial quarterly loss of $4.85 per share, far below the expected $0.43 loss, although revenue of $889.45 million slightly exceeded estimates.
• Analyst sentiment remains negative: the stock has a consensus “Reduce” rating, with recent downgrades and a consensus price target of $42, versus a reported market price of $33.12.

State Street Corp acquired a new stake in Advantage Solutions Inc. (NASDAQ:ADV - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 90,502 shares of the company's stock, valued at approximately $3,913,000. State Street Corp owned approximately 0.71% of Advantage Solutions at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CastleKnight Management LP increased its holdings in Advantage Solutions by 18.1% during the 4th quarter. CastleKnight Management LP now owns 11,794,950 shares of the company's stock worth $10,380,000 after acquiring an additional 1,806,891 shares during the period. Bank of New York Mellon Corp raised its stake in Advantage Solutions by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 12,187 shares of the company's stock valued at $527,000 after purchasing an additional 887 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Advantage Solutions in the second quarter valued at approximately $456,000. 49.82% of the stock is owned by hedge funds and other institutional investors.

Advantage Solutions Trading Down 2.4%

ADV opened at $33.12 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 3.77. Advantage Solutions Inc. has a 52 week low of $12.23 and a 52 week high of $47.45. The stock has a market cap of $424.60 million, a PE ratio of -1.55 and a beta of 2.16. The business has a 50 day moving average of $33.93 and a 200-day moving average of $33.40.

Advantage Solutions (NASDAQ:ADV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($4.85) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($4.42). The firm had revenue of $889.45 million during the quarter, compared to analysts' expectations of $887.30 million. Advantage Solutions had a negative return on equity of 48.15% and a negative net margin of 7.65%. Equities research analysts predict that Advantage Solutions Inc. will post 0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ADV shares. Morgan Stanley cut their price target on shares of Advantage Solutions from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, August 6th. Zacks Research downgraded Advantage Solutions from a "hold" rating to a "strong sell" rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Advantage Solutions in a research note on Monday, August 3rd. Finally, Wall Street Zen cut Advantage Solutions from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $42.00.

Advantage Solutions Profile

Advantage Solutions Inc is a provider of sales and marketing services for consumer goods companies, retailers and other brands. The company helps clients plan and execute programs designed to improve product visibility, shopper engagement and sales across retail and other commerce channels.

Its services include outsourced sales, retail merchandising, brand and shopper marketing, experiential marketing, digital marketing, e-commerce support, analytics and business intelligence. Advantage Solutions works with clients across categories such as food and beverage, consumer packaged goods, health and wellness, household products and other consumer markets.

The company serves clients through operations in the United States and internationally.

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