Armistice Capital LLC Acquires 166,319 Shares of The Simply Good Foods Company $SMPL

Key Points

• Armistice Capital LLC increased its stake in The Simply Good Foods Company by 14.0%, acquiring an additional 166,319 shares, bringing its total holdings to 1,351,593 shares worth approximately $46.6 million.
• Insider transactions revealed that CEO Geoff E. Tanner purchased 6,050 shares at an average cost of $33.11 per share, increasing his ownership by 6.57%.
• Simply Good Foods posted a $0.51 EPS in its latest earnings report, matching analyst expectations, with a revenue of $380.96 million, showing a year-over-year increase of 13.8%.

Armistice Capital LLC grew its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 14.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,351,593 shares of the financial services provider's stock after purchasing an additional 166,319 shares during the period. Simply Good Foods comprises 0.7% of Armistice Capital LLC's holdings, making the stock its 26th largest holding. Armistice Capital LLC owned 1.34% of Simply Good Foods worth $46,616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Simply Good Foods during the 4th quarter worth approximately $206,000. Assenagon Asset Management S.A. acquired a new position in shares of Simply Good Foods during the 1st quarter worth approximately $1,437,000. SG Americas Securities LLC acquired a new position in shares of Simply Good Foods during the 1st quarter worth approximately $712,000. Nisa Investment Advisors LLC grew its position in shares of Simply Good Foods by 24.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock worth $131,000 after purchasing an additional 754 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Simply Good Foods by 0.8% during the 1st quarter. Rhumbline Advisers now owns 255,703 shares of the financial services provider's stock worth $8,819,000 after purchasing an additional 1,904 shares in the last quarter. Institutional investors and hedge funds own 88.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. DA Davidson reduced their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating on the stock in a research report 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. Stifel Nicolaus reduced their price target on shares of Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, June 27th. Wall Street Zen lowered shares of Simply Good Foods from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, UBS Group set a $36.00 price target on shares of Simply Good Foods and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Simply Good Foods has an average rating of "Moderate Buy" and an average target price of $39.88.

Insider Buying and Selling

In related news, CEO Geoff E. Tanner acquired 6,050 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was acquired at an average price of $33.11 per share, with a total value of $200,315.50. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.35% of the stock is currently owned by insiders.

Simply Good Foods Price Performance

NASDAQ:SMPL traded down $0.13 on Thursday, hitting $28.53. The company had a trading volume of 1,512,993 shares, compared to its average volume of 1,120,227. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.65 and a beta of 0.59. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $30.83 and a two-hundred day moving average of $33.64. The Simply Good Foods Company has a 52 week low of $28.14 and a 52 week high of $40.53.

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

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.