917,716 Advantage Solutions Inc. $ADV Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Advantage Solutions stake by 55.9%, selling 917,716 shares in the second quarter and retaining 725,000 shares worth approximately $594,000. CastleKnight Management, however, increased its position by 18.1%.
• Analyst sentiment is largely negative: Advantage Solutions has an average “Reduce” rating and a $42 price target, with recent downgrades from Zacks Research and Wall Street Zen.
• The company reported a significant quarterly loss of $4.85 per share, far below the $0.43 loss expected, despite revenue of $889.45 million slightly exceeding estimates.

Corient Private Wealth LP lessened its stake in shares of Advantage Solutions Inc. (NASDAQ:ADV - Free Report) by 55.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 725,000 shares of the company's stock after selling 917,716 shares during the quarter. Corient Private Wealth LP owned about 5.65% of Advantage Solutions worth $594,000 at the end of the most recent reporting period.

Separately, CastleKnight Management LP grew its position in shares of Advantage Solutions by 18.1% during the 4th quarter. CastleKnight Management LP now owns 11,794,950 shares of the company's stock valued at $10,380,000 after purchasing an additional 1,806,891 shares in the last quarter. Hedge funds and other institutional investors own 49.82% of the company's stock.

Analysts Set New Price Targets

ADV has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Advantage Solutions in a research report on Monday, August 3rd. Zacks Research lowered Advantage Solutions from a "hold" rating to a "strong sell" rating in a research note on Friday, August 14th. Morgan Stanley lowered their price target on Advantage Solutions from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Thursday, August 6th. Finally, Wall Street Zen downgraded Advantage Solutions from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $42.00.

Advantage Solutions Price Performance

Shares of Advantage Solutions stock opened at $29.55 on Wednesday. The firm has a market capitalization of $378.83 million, a PE ratio of -1.38 and a beta of 2.16. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 3.77. Advantage Solutions Inc. has a 12 month low of $12.23 and a 12 month high of $47.45. The business's 50-day moving average price is $33.64 and its 200-day moving average price is $33.71.

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

Advantage Solutions Company 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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