Highland Peak Capital LLC Takes Position in National Vision Holdings, Inc. (NASDAQ:EYE)

Key Points

• Highland Peak Capital LLC has acquired 380,498 shares of National Vision Holdings, worth approximately $4.86 million, making it their 8th largest position.
• In the first quarter, several institutional investors, including Vanguard Group Inc. and Federated Hermes Inc., increased their stakes in National Vision, indicating growing confidence in the company.
• National Vision's stock opened at $24.81, with recent earnings exceeding analysts' expectations and a positive revenue growth of 5.7% compared to the previous year.

Highland Peak Capital LLC bought a new position in shares of National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 380,498 shares of the company's stock, valued at approximately $4,863,000. National Vision accounts for 3.6% of Highland Peak Capital LLC's portfolio, making the stock its 8th largest holding. Highland Peak Capital LLC owned 0.48% of National Vision at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in National Vision by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 10,568,579 shares of the company's stock worth $135,066,000 after acquiring an additional 156,741 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of National Vision during the first quarter valued at approximately $972,000. Federated Hermes Inc. raised its position in shares of National Vision by 215.0% during the first quarter. Federated Hermes Inc. now owns 861,527 shares of the company's stock valued at $11,010,000 after buying an additional 588,022 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of National Vision during the first quarter valued at approximately $35,000. Finally, Mackenzie Financial Corp raised its position in shares of National Vision by 26.7% during the first quarter. Mackenzie Financial Corp now owns 124,485 shares of the company's stock valued at $1,591,000 after buying an additional 26,270 shares during the last quarter.

National Vision Trading Down 6.3%

Shares of EYE traded down $1.53 during trading hours on Friday, reaching $22.64. 2,546,444 shares of the company traded hands, compared to its average volume of 2,105,001. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -125.78, a PEG ratio of 3.05 and a beta of 1.27. National Vision Holdings, Inc. has a 12-month low of $9.56 and a 12-month high of $25.67. The company has a current ratio of 0.52, a quick ratio of 0.35 and a debt-to-equity ratio of 0.30. The stock's fifty day moving average price is $23.47 and its 200 day moving average price is $16.74.

National Vision (NASDAQ:EYE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. National Vision had a negative net margin of 0.75% and a positive return on equity of 3.56%. The firm had revenue of $486.42 million during the quarter, compared to analyst estimates of $469.21 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. Sell-side analysts forecast that National Vision Holdings, Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Ravi Acharya sold 12,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were 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 directly owned 11,700 shares of the company's stock, valued at $219,375. This represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EYE has been the topic of several recent analyst reports. Citigroup upgraded shares of National Vision from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $13.00 to $21.00 in a research report on Friday, May 9th. National Bankshares set a $30.00 price objective on shares of National Vision in a research report on Tuesday, July 8th. Loop Capital lifted their price objective on shares of National Vision from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Bank of America boosted their price target on shares of National Vision from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, Barclays reduced their price target on shares of National Vision from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.73.

National Vision Company 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.