Allspring Global Investments Holdings LLC Trims Stock Position in National Vision Holdings, Inc. $EYE

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in National Vision Holdings, Inc. by 10.7%, owning approximately 886,919 shares worth $21.46 million following the sale of 106,639 shares.
• National Vision reported earnings of $0.18 per share, surpassing analysts' expectations, with revenue for the quarter at $486.42 million, a 7.7% increase year-over-year.
• Insider trading activity showed significant transactions, with Chairman L Reade Fahs selling 137,400 shares, representing a 20.14% decrease in his ownership of the stock.

Allspring Global Investments Holdings LLC cut its stake in National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 886,919 shares of the company's stock after selling 106,639 shares during the period. Allspring Global Investments Holdings LLC owned about 1.12% of National Vision worth $21,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in National Vision in the first quarter valued at $467,000. GAMMA Investing LLC raised its holdings in shares of National Vision by 49.2% in the first quarter. GAMMA Investing LLC now owns 7,318 shares of the company's stock valued at $94,000 after buying an additional 2,412 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of National Vision by 282.5% in the first quarter. SG Americas Securities LLC now owns 75,843 shares of the company's stock valued at $969,000 after buying an additional 56,017 shares during the last quarter. Woodline Partners LP raised its holdings in shares of National Vision by 172.7% in the first quarter. Woodline Partners LP now owns 415,730 shares of the company's stock valued at $5,313,000 after buying an additional 263,308 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new stake in shares of National Vision in the first quarter valued at about $142,000.

National Vision Trading Down 0.4%

NASDAQ EYE opened at $27.05 on Friday. The stock has a market capitalization of $2.14 billion, a P/E ratio of -150.28, a P/E/G ratio of 3.01 and a beta of 1.30. National Vision Holdings, Inc. has a 52-week low of $9.56 and a 52-week high of $29.59. The firm has a 50-day moving average price of $25.19 and a 200 day moving average price of $21.26. The company has a quick ratio of 0.31, a current ratio of 0.52 and a debt-to-equity ratio of 0.30.

National Vision (NASDAQ:EYE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. National Vision had a negative net margin of 0.75% and a positive return on equity of 3.56%. The firm had revenue of $486.42 million during the quarter, compared to analysts' expectations of $469.21 million. During the same period in the prior year, the company posted $0.15 earnings per share. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that National Vision Holdings, Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other National Vision news, Chairman L Reade Fahs sold 137,400 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $24.33, for a total transaction of $3,342,942.00. Following the transaction, the chairman directly owned 544,795 shares in the company, valued at approximately $13,254,862.35. This represents a 20.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EYE shares. Roth Capital started coverage on shares of National Vision in a report on Wednesday, July 30th. They issued a "buy" rating and a $36.00 target price for the company. Wall Street Zen cut shares of National Vision from a "buy" rating to a "hold" rating in a report on Friday, September 26th. UBS Group reaffirmed a "buy" rating and issued a $30.00 target price on shares of National Vision in a report on Tuesday, July 8th. Wells Fargo & Company set a $27.00 target price on shares of National Vision and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of National Vision in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $24.73.

National Vision Profile

National Vision Holdings, Inc, through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America's Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services.

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