GAMMA Investing LLC Boosts Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

GAMMA Investing LLC lifted its stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 3,023.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,908 shares of the financial services provider's stock after acquiring an additional 53,150 shares during the period. GAMMA Investing LLC owned approximately 0.05% of Simply Good Foods worth $1,894,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SMPL. Blue Trust Inc. lifted its holdings in shares of Simply Good Foods by 42.9% in the fourth quarter. Blue Trust Inc. now owns 5,568 shares of the financial services provider's stock worth $217,000 after buying an additional 1,671 shares in the last quarter. Rhumbline Advisers increased its holdings in Simply Good Foods by 1.2% during the 4th quarter. Rhumbline Advisers now owns 253,799 shares of the financial services provider's stock worth $9,893,000 after acquiring an additional 2,990 shares during the period. Congress Asset Management Co. lifted its stake in Simply Good Foods by 17.3% in the 4th quarter. Congress Asset Management Co. now owns 313,672 shares of the financial services provider's stock worth $12,227,000 after purchasing an additional 46,375 shares in the last quarter. Nkcfo LLC bought a new position in Simply Good Foods in the 4th quarter valued at $234,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Simply Good Foods during the 4th quarter valued at $318,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SMPL shares. Wall Street Zen raised Simply Good Foods from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Mizuho lifted their price target on Simply Good Foods from $45.00 to $47.00 and gave the company an "outperform" rating in a research report on Friday, April 11th. Morgan Stanley upped their price objective on shares of Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. UBS Group assumed coverage on shares of Simply Good Foods in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $41.00 target price on the stock. Finally, DA Davidson cut their price target on shares of Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Simply Good Foods has a consensus rating of "Moderate Buy" and an average target price of $41.29.

Simply Good Foods Price Performance

NASDAQ:SMPL traded down $0.19 during mid-day trading on Tuesday, reaching $32.78. The stock had a trading volume of 1,288,431 shares, compared to its average volume of 958,367. The stock has a market capitalization of $3.31 billion, a P/E ratio of 22.76, a P/E/G ratio of 2.77 and a beta of 0.72. The firm has a 50 day moving average price of $35.32 and a two-hundred day moving average price of $36.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.70 and a current ratio of 4.27. The Simply Good Foods Company has a one year low of $31.25 and a one year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. Simply Good Foods had a net margin of 10.31% and a return on equity of 10.39%. The firm had revenue of $359.70 million for the quarter, compared to the consensus estimate of $354.50 million. During the same period last year, the firm posted $0.40 earnings per share. The business's revenue was up 15.2% compared to the same quarter last year. As a group, analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Insider Buying and Selling at Simply Good Foods

In other news, SVP Stuart E. Jr. Heflin sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $37.25, for a total value of $186,250.00. Following the transaction, the senior vice president now owns 12,839 shares in the company, valued at approximately $478,252.75. This trade represents a 28.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.35% of the company's stock.

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.