GSA Capital Partners LLP Has $583,000 Stock Holdings in Vestis Corporation (NYSE:VSTS)

Key Points

• GSA Capital Partners LLP significantly increased its stake in Vestis Corporation by 369.6%, acquiring a total of 58,850 shares valued at approximately $583,000.
• Vestis reported a loss of ($0.05) earnings per share for its latest quarter, missing the consensus estimate of $0.15, alongside a 5.7% decrease in revenue year-over-year.
• Wall Street analysts have a consensus rating of "Hold" on Vestis shares, with target prices ranging from $5.00 to $9.25, indicating cautious sentiment about the stock's future performance.

GSA Capital Partners LLP lifted its position in Vestis Corporation (NYSE:VSTS - Free Report) by 369.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 58,850 shares of the company's stock after purchasing an additional 46,317 shares during the quarter. GSA Capital Partners LLP's holdings in Vestis were worth $583,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Federated Hermes Inc. grew its holdings in Vestis by 2.0% during the 1st quarter. Federated Hermes Inc. now owns 121,589 shares of the company's stock worth $1,204,000 after acquiring an additional 2,352 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Vestis by 173.8% during the 1st quarter. Mackenzie Financial Corp now owns 53,895 shares of the company's stock worth $534,000 after acquiring an additional 34,210 shares during the last quarter. Private Management Group Inc. grew its holdings in Vestis by 158.7% during the 1st quarter. Private Management Group Inc. now owns 1,774,342 shares of the company's stock worth $17,566,000 after acquiring an additional 1,088,514 shares during the last quarter. Royce & Associates LP grew its holdings in Vestis by 196.2% during the 1st quarter. Royce & Associates LP now owns 2,842,936 shares of the company's stock worth $28,145,000 after acquiring an additional 1,883,106 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its holdings in Vestis by 587.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 133,145 shares of the company's stock worth $1,318,000 after acquiring an additional 113,768 shares during the last quarter. Institutional investors own 97.40% of the company's stock.

Analysts Set New Price Targets

VSTS has been the topic of a number of research analyst reports. Barclays decreased their price objective on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their price objective on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, Vestis has a consensus rating of "Hold" and a consensus target price of $9.13.

Vestis Trading Down 5.3%

Vestis stock traded down $0.28 during trading hours on Friday, reaching $4.92. 2,132,657 shares of the company's stock traded hands, compared to its average volume of 2,356,977. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.41 and a current ratio of 1.84. Vestis Corporation has a fifty-two week low of $4.84 and a fifty-two week high of $17.83. The firm has a market capitalization of $647.70 million, a price-to-earnings ratio of -21.50 and a beta of 0.96. The firm's 50 day moving average is $6.07 and its 200-day moving average is $8.79.

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

Insider Buying and Selling at Vestis

In other news, Director Keith A. Meister purchased 314,390 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average cost of $6.03 per share, for a total transaction of $1,895,771.70. Following the transaction, the director directly owned 18,803,899 shares of the company's stock, valued at approximately $113,387,510.97. The trade was a 1.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have purchased 800,675 shares of company stock valued at $4,777,432. Company insiders own 13.60% of the company's stock.

Vestis Profile

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.