Envestnet Asset Management Inc. Buys 66,015 Shares of 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 position in shares of National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 100.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,590 shares of the company's stock after acquiring an additional 66,015 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of National Vision worth $1,682,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EYE. Burgundy Asset Management Ltd. boosted its position in National Vision by 138.6% during the fourth quarter. Burgundy Asset Management Ltd. now owns 4,675,539 shares of the company's stock worth $48,719,000 after purchasing an additional 2,715,582 shares during the period. Engine Capital Management LP boosted its position in National Vision by 127.5% during the fourth quarter. Engine Capital Management LP now owns 2,528,053 shares of the company's stock worth $26,342,000 after purchasing an additional 1,417,002 shares during the period. SG Capital Management LLC bought a new stake in National Vision during the fourth quarter worth approximately $11,827,000. Arrowstreet Capital Limited Partnership boosted its position in National Vision by 81.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,308,375 shares of the company's stock worth $24,053,000 after purchasing an additional 1,036,459 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings 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 buying an additional 582,353 shares during the last quarter.

Insider Transactions at National Vision

In other news, SVP Ravi Acharya sold 12,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $18.75, for a total value of $225,000.00. Following the completion of the sale, the senior vice president 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EYE. Barclays upgraded National Vision from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $17.00 to $30.00 in a research note on Tuesday, July 8th. Loop Capital upped their target price on National Vision from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their target price on National Vision from $15.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group upped their target price on National Vision from $13.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, National Bankshares set a $30.00 target price on National Vision in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.18.

National Vision Price Performance

Shares of National Vision stock traded down $0.05 during trading on Friday, reaching $24.21. 1,809,928 shares of the company's stock were exchanged, compared to its average volume of 1,914,885. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.35 and a current ratio of 0.54. National Vision Holdings, Inc. has a 1-year low of $9.56 and a 1-year high of $25.67. The company has a market cap of $1.91 billion, a P/E ratio of -73.36, a PEG ratio of 3.44 and a beta of 1.27. The firm's 50-day moving average price is $23.05 and its 200 day moving average price is $16.40.

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

National Vision Profile

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.