Jump Financial LLC Takes $316,000 Position in The Simply Good Foods Company $SMPL

Key Points

• Jump Financial LLC has acquired 9,165 shares of The Simply Good Foods Company, valued at approximately $316,000, indicating growing interest in the company's stock.
• Simply Good Foods reported a quarterly earnings per share (EPS) of $0.51, meeting analyst estimates, with revenue increasing by 13.8% year-over-year to $380.96 million.
• Analysts have mixed opinions on the stock, with a consensus price target of $39.88 and five analysts rating it as a "Buy," reflecting confidence in the company's future performance despite some concerns.

Jump Financial LLC acquired a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,165 shares of the financial services provider's stock, valued at approximately $316,000.

Several other institutional investors also recently modified their holdings of SMPL. Northern Trust Corp grew its stake in Simply Good Foods by 10.7% in the 4th quarter. Northern Trust Corp now owns 999,455 shares of the financial services provider's stock worth $38,959,000 after buying an additional 96,593 shares in the last quarter. Lido Advisors LLC bought a new stake in shares of Simply Good Foods during the 4th quarter worth $251,000. BNP Paribas Financial Markets grew its position in Simply Good Foods by 138.4% in the fourth quarter. BNP Paribas Financial Markets now owns 216,341 shares of the financial services provider's stock worth $8,433,000 after acquiring an additional 125,608 shares in the last quarter. Bank of America Corp DE increased its stake in Simply Good Foods by 14.5% in the fourth quarter. Bank of America Corp DE now owns 444,442 shares of the financial services provider's stock valued at $17,324,000 after acquiring an additional 56,122 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in Simply Good Foods by 3,306.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 460,827 shares of the financial services provider's stock valued at $17,963,000 after purchasing an additional 447,300 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Simply Good Foods Trading Down 0.3%

Shares of NASDAQ SMPL traded down $0.08 during mid-day trading on Friday, hitting $28.45. The stock had a trading volume of 1,302,490 shares, compared to its average volume of 1,194,743. The business has a 50 day moving average price of $30.70 and a two-hundred day moving average price of $33.52. The Simply Good Foods Company has a 1 year low of $28.14 and a 1 year high of $40.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.46 and a current ratio of 3.95. The firm has a market cap of $2.86 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.64 and a beta of 0.59.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.51. The business had revenue of $380.96 million for the quarter, compared to analyst estimates of $381.68 million. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. On average, equities analysts anticipate that The Simply Good Foods Company will post 1.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. DA Davidson cut their target price on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Citigroup reduced their price target on shares of Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Mizuho decreased their price target on shares of Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 15th. Finally, UBS Group set a $36.00 price objective on shares of Simply Good Foods and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Simply Good Foods currently has a consensus rating of "Moderate Buy" and an average price target of $39.88.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, CEO Geoff E. Tanner purchased 6,050 shares of Simply Good Foods stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the acquisition, the chief executive officer directly owned 98,190 shares in the company, valued at approximately $3,251,070.90. This trade represents a 6.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.35% of the stock is currently owned by corporate insiders.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.