Assenagon Asset Management S.A. Sells 61,731 Shares of National Vision Holdings, Inc. $EYE

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in National Vision Holdings by 74.3%, selling 61,731 shares and now holding 21,379 shares valued at approximately $492,000.
• Chairman L Reade Fahs sold 137,400 shares at an average price of $24.33, resulting in a total transaction amount of over $3.3 million, further decreasing their ownership by 20.14%.
• National Vision's stock is showing positive momentum, with a recent price target increase by analysts, including a new target of $27 from Wells Fargo and an upgrade to "buy" from Bank of America.

Assenagon Asset Management S.A. trimmed its holdings in National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 74.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,379 shares of the company's stock after selling 61,731 shares during the quarter. Assenagon Asset Management S.A.'s holdings in National Vision were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of National Vision by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 10,568,579 shares of the company's stock worth $135,066,000 after acquiring an additional 156,741 shares during the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of National Vision by 6.9% in the first quarter. Burgundy Asset Management Ltd. now owns 4,996,104 shares of the company's stock worth $63,850,000 after buying an additional 320,565 shares during the period. Engine Capital Management LP increased its stake in shares of National Vision by 53.3% in the first quarter. Engine Capital Management LP now owns 3,875,701 shares of the company's stock worth $49,531,000 after buying an additional 1,347,648 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of National Vision by 12.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,776,285 shares of the company's stock worth $22,701,000 after buying an additional 193,154 shares during the period. Finally, Emerald Advisers LLC increased its stake in shares of National Vision by 35.5% in the first quarter. Emerald Advisers LLC now owns 1,343,328 shares of the company's stock worth $17,168,000 after buying an additional 352,228 shares during the period.

Insider Buying and Selling

In related news, Chairman L Reade Fahs sold 137,400 shares of the 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 sale, the chairman directly owned 544,795 shares of the company's stock, valued at approximately $13,254,862.35. This represents a 20.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EYE shares. Wells Fargo & Company set a $27.00 target price on shares of National Vision and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of National Vision from a "buy" rating to a "hold" rating in a research note on Friday. The Goldman Sachs Group lifted their target price on shares of National Vision from $17.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. National Bankshares set a $30.00 target price on shares of National Vision in a research note on Tuesday, July 8th. Finally, Bank of America lifted their target price on shares of National Vision from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.73.

National Vision Stock Up 4.2%

NASDAQ:EYE opened at $28.54 on Monday. The firm's 50-day moving average price is $24.32 and its 200-day moving average price is $19.91. The company has a market capitalization of $2.26 billion, a PE ratio of -158.56, a P/E/G ratio of 3.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.52 and a quick ratio of 0.31. National Vision Holdings, Inc. has a 1-year low of $9.56 and a 1-year high of $28.80.

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

About National Vision

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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