Eisler Capital Management Ltd. Boosts Position in Vestis Corporation $VSTS

Key Points

• Eisler Capital Management Ltd. increased its stake in Vestis Corporation by 702.0%, acquiring an additional 87,745 shares in the first quarter, bringing its total ownership to 100,245 shares valued at approximately $992,000.
• Several hedge funds, including True Wealth Design LLC and Spire Wealth Management, have recently added to their positions in Vestis Corporation, highlighting a trend of increasing institutional investment.
• Analyst ratings for Vestis show a decrease in the price objective, with Barclays lowering its target from $10.00 to $5.00 and setting an "underweight" rating on the stock.

Eisler Capital Management Ltd. boosted its holdings in Vestis Corporation (NYSE:VSTS - Free Report) by 702.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,245 shares of the company's stock after acquiring an additional 87,745 shares during the quarter. Eisler Capital Management Ltd. owned 0.08% of Vestis worth $992,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in Vestis by 7.3% in the 1st quarter. New York State Common Retirement Fund now owns 368,747 shares of the company's stock worth $3,651,000 after acquiring an additional 25,044 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Vestis in the 1st quarter worth about $637,000. Lord Abbett & CO. LLC boosted its holdings in shares of Vestis by 27.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 638,134 shares of the company's stock worth $6,318,000 after purchasing an additional 137,243 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Vestis by 2,918.4% in the 1st quarter. Quantbot Technologies LP now owns 184,844 shares of the company's stock worth $1,830,000 after purchasing an additional 178,720 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Vestis in the 1st quarter worth about $1,756,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Trading Up 1.2%

VSTS stock traded up $0.05 during trading on Monday, hitting $4.67. 1,136,430 shares of the company traded hands, compared to its average volume of 2,243,455. The firm has a market capitalization of $616.22 million, a PE ratio of -20.32 and a beta of 0.98. Vestis Corporation has a 1 year low of $4.32 and a 1 year high of $17.83. The company has a 50-day moving average of $5.61 and a 200-day moving average of $7.57. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.42 and a current ratio of 1.84.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $673.80 million during the quarter, compared to analysts' expectations of $673.65 million. Vestis had a positive return on equity of 3.76% and a negative net margin of 1.11%.Vestis's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. Analysts predict that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Vestis from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. cut their price objective on Vestis from $6.00 to $5.50 and set an "underweight" rating for the company in a report on Thursday, August 7th. Finally, Barclays cut their price objective on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $9.13.

About Vestis

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.