Jefferies Financial Group Inc. Makes New $1.76 Million Investment in Vestis Corporation (NYSE:VSTS)

Key Points

• Jefferies Financial Group Inc. made a new investment in Vestis Corporation, acquiring 177,393 shares valued at approximately $1.76 million, representing about 0.13% ownership of the company.
• Vestis Corporation reported a quarterly earnings loss, missing analysts' expectations with earnings per share of ($0.05) and a negative net margin of 0.89%, while revenues decreased by 5.7% year-over-year.
• Institutional investors own approximately 97.40% of Vestis stock, with significant recent purchases from other investors like Spire Wealth Management and Copeland Capital Management.

Jefferies Financial Group Inc. acquired a new position in shares of Vestis Corporation (NYSE:VSTS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 177,393 shares of the company's stock, valued at approximately $1,756,000. Jefferies Financial Group Inc. owned about 0.13% of Vestis at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VSTS. True Wealth Design LLC acquired a new position in shares of Vestis during the fourth quarter worth approximately $29,000. Spire Wealth Management lifted its position in shares of Vestis by 168.2% during the first quarter. Spire Wealth Management now owns 5,110 shares of the company's stock worth $51,000 after purchasing an additional 3,205 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Vestis by 33.0% during the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock worth $54,000 after purchasing an additional 1,346 shares in the last quarter. KBC Group NV lifted its position in shares of Vestis by 54.2% during the first quarter. KBC Group NV now owns 7,309 shares of the company's stock worth $72,000 after purchasing an additional 2,568 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Vestis by 45.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock worth $120,000 after purchasing an additional 2,479 shares in the last quarter. 97.40% of the stock is owned by institutional investors.

Vestis Trading Down 5.4%

Shares of NYSE VSTS opened at $5.73 on Monday. The company's 50 day simple moving average is $6.11 and its 200 day simple moving average is $8.98. Vestis Corporation has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The firm has a market capitalization of $755.10 million, a P/E ratio of -31.83 and a beta of 0.96. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.87 and a quick ratio of 1.41.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a negative net margin of 0.89% and a positive return on equity of 5.36%. The business had revenue of $665.25 million during the quarter, compared to analyst estimates of $690.81 million. The business's quarterly revenue was down 5.7% compared to the same quarter last year. On average, analysts predict that Vestis Corporation will post 0.7 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VSTS shares. Barclays reduced their target price on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $6.00 target price (up from $5.00) on shares of Vestis in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, Vestis currently has an average rating of "Hold" and an average target price of $9.25.

Insider Activity at Vestis

In other Vestis news, COO William J. Seward acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the acquisition, the chief operating officer directly owned 130,862 shares of the company's stock, valued at approximately $815,270.26. This represents a 8.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister bought 377,277 shares of the business's stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $5.89 per share, for a total transaction of $2,222,161.53. Following the completion of the acquisition, the director owned 18,380,501 shares of the company's stock, valued at approximately $108,261,150.89. This trade represents a 2.10% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 880,675 shares of company stock worth $5,271,632 over the last ninety days. Company insiders own 13.60% of the company's stock.

Vestis Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.