GSA Capital Partners LLP Invests $1.03 Million in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Key Points

• GSA Capital Partners LLP has established a new position in Ingles Markets, acquiring approximately $1.03 million worth of shares in the first quarter.
• Ingles Markets recently declared a quarterly dividend of $0.165 per share, representing an annualized dividend of $0.66 and a yield of 1.0%.
• After recent changes in analyst ratings, shares of Ingles Markets have been upgraded from a "hold" to a "buy" rating as of May 6th.

GSA Capital Partners LLP purchased a new position in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,784 shares of the company's stock, valued at approximately $1,028,000. GSA Capital Partners LLP owned about 0.08% of Ingles Markets at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in Ingles Markets in the fourth quarter worth $30,000. Sterling Capital Management LLC raised its stake in shares of Ingles Markets by 811.8% during the fourth quarter. Sterling Capital Management LLC now owns 465 shares of the company's stock valued at $30,000 after purchasing an additional 414 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of Ingles Markets during the fourth quarter valued at about $64,000. Tower Research Capital LLC TRC raised its position in Ingles Markets by 296.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,252 shares of the company's stock worth $81,000 after acquiring an additional 936 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in Ingles Markets in the fourth quarter worth about $210,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.

Ingles Markets Price Performance

NASDAQ IMKTA traded down $0.14 during midday trading on Monday, hitting $63.07. The company had a trading volume of 37,656 shares, compared to its average volume of 121,224. The company has a current ratio of 3.19, a quick ratio of 1.46 and a debt-to-equity ratio of 0.32. Ingles Markets, Incorporated has a twelve month low of $58.92 and a twelve month high of $77.50. The company has a market capitalization of $1.20 billion, a PE ratio of 19.35 and a beta of 0.74. The firm has a 50-day moving average price of $63.70 and a 200-day moving average price of $63.40.

Ingles Markets (NASDAQ:IMKTA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.80 EPS for the quarter. Ingles Markets had a return on equity of 3.98% and a net margin of 1.14%.

Ingles Markets Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 10th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, July 10th. Ingles Markets's dividend payout ratio is presently 20.25%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Ingles Markets from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Ingles Markets Company Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.