Envestnet Asset Management Inc. Boosts Stake in National Vision Holdings, Inc. (NASDAQ:EYE)

Key Points

• Envestnet Asset Management Inc. increased its stake in National Vision Holdings by 100.7%, owning 131,590 shares worth approximately $1.68 million after acquiring an additional 66,015 shares in the first quarter.
• Several firms have recently upgraded their ratings on National Vision, with Barclays raising their target price from $17.00 to $30.00 and maintaining an "overweight" rating.
• National Vision reported $0.34 earnings per share for the last quarter, surpassing expectations of $0.32 and marking a 5.7% increase in revenue year-over-year.

Envestnet Asset Management Inc. increased its holdings in National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 100.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,590 shares of the company's stock after buying an additional 66,015 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of National Vision worth $1,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of EYE. Principal Financial Group Inc. increased its position in shares of National Vision by 2.7% during the first quarter. Principal Financial Group Inc. now owns 392,205 shares of the company's stock worth $5,012,000 after purchasing an additional 10,189 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of National Vision during the first quarter worth $147,000. Skylands Capital LLC acquired a new position in shares of National Vision during the first quarter worth $1,010,000. Lisanti Capital Growth LLC acquired a new position in shares of National Vision during the first quarter worth $4,041,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of National Vision by 141.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 993,558 shares of the company's stock worth $12,718,000 after purchasing an additional 582,353 shares in the last quarter.

Insider Buying and Selling

In other National Vision news, SVP Ravi Acharya sold 12,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $18.75, for a total value of $225,000.00. Following the sale, the senior vice president directly owned 11,700 shares of the company's stock, valued at approximately $219,375. This represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company's stock.

National Vision Stock Performance

EYE traded down $0.05 on Friday, reaching $24.21. 1,809,928 shares of the stock were exchanged, compared to its average volume of 2,068,660. The company's 50-day moving average price is $22.94 and its 200 day moving average price is $16.27. National Vision Holdings, Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $25.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.54 and a quick ratio of 0.35. The firm has a market capitalization of $1.91 billion, a PE ratio of -73.36, a PEG ratio of 3.58 and a beta of 1.27.

National Vision (NASDAQ:EYE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. National Vision had a negative net margin of 1.40% and a positive return on equity of 3.44%. The company had revenue of $510.32 million for the quarter, compared to analyst estimates of $510.30 million. During the same period in the prior year, the company earned $0.32 earnings per share. The firm's revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that National Vision Holdings, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Roth Capital assumed coverage on National Vision in a research report on Wednesday. They set a "buy" rating and a $36.00 price target on the stock. Loop Capital upped their price target on National Vision from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Barclays raised National Vision from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $17.00 to $30.00 in a research report on Tuesday, July 8th. UBS Group reaffirmed a "buy" rating and set a $30.00 price target on shares of National Vision in a research report on Tuesday, July 8th. Finally, Wall Street Zen downgraded National Vision from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.18.

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.