Ancora Advisors LLC Trims Stock Holdings in Advantage Solutions Inc. $ADV

Key Points

• Ancora Advisors LLC reduced its stake in Advantage Solutions Inc. by 43.4%, now holding approximately 0.15% of the company worth $709,000 after selling 360,009 shares.
• Institutional investors and hedge funds collectively own 49.82% of Advantage Solutions, with several firms, including Price T Rowe Associates and Deutsche Bank AG, increasing their holdings in the company.
• Analyst ratings for Advantage Solutions have been mixed, with firms like Canaccord Genuity and Morgan Stanley adjusting their price targets, currently averaging a "Buy" rating with a price target of $2.25.

Ancora Advisors LLC lessened its position in shares of Advantage Solutions Inc. (NASDAQ:ADV - Free Report) by 43.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,863 shares of the company's stock after selling 360,009 shares during the period. Ancora Advisors LLC owned 0.15% of Advantage Solutions worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Cornerstone Wealth Management LLC purchased a new position in Advantage Solutions in the 1st quarter valued at approximately $25,000. Humankind Investments LLC purchased a new position in shares of Advantage Solutions during the fourth quarter worth about $31,000. Forum Financial Management LP purchased a new stake in Advantage Solutions in the fourth quarter valued at approximately $34,000. BNP Paribas Financial Markets bought a new position in shares of Advantage Solutions in the 4th quarter worth $39,000. Finally, St. Louis Financial Planners Asset Management LLC purchased a new stake in shares of Advantage Solutions during the 1st quarter valued at $45,000. 49.82% of the stock is currently owned by hedge funds and other institutional investors.

Advantage Solutions Trading Up 3.3%

Shares of ADV traded up $0.06 during mid-day trading on Thursday, hitting $1.90. 480,216 shares of the company's stock traded hands, compared to its average volume of 635,066. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 2.43. The business's 50-day moving average price is $1.65 and its 200-day moving average price is $1.54. The firm has a market capitalization of $619.31 million, a P/E ratio of -2.02 and a beta of 2.19. Advantage Solutions Inc. has a 1 year low of $1.04 and a 1 year high of $4.10.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley set a $2.00 price target on Advantage Solutions in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $2.25.

About Advantage Solutions

Advantage Solutions Inc provides business solutions to consumer goods manufacturers and retailers in North America and internationally. It operates in two segments, Sales and Marketing. The Sales segment offers brand-centric services, such as headquarter relationship management; analytics, insights, and intelligence; and brand-centric merchandising services.