Vestis Co. (NYSE:VSTS) Shares Sold by Man Group plc

Man Group plc decreased its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 88.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,000 shares of the company's stock after selling 264,000 shares during the period. Man Group plc's holdings in Vestis were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of VSTS. Pacer Advisors Inc. acquired a new stake in Vestis in the fourth quarter worth about $210,766,000. Millennium Management LLC lifted its holdings in Vestis by 179.4% in the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock valued at $45,777,000 after acquiring an additional 1,928,687 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Vestis during the fourth quarter worth $25,805,000. First Trust Advisors LP purchased a new stake in shares of Vestis during the 4th quarter worth about $22,936,000. Finally, Birnam Oak Advisors LP purchased a new stake in shares of Vestis in the fourth quarter valued at approximately $21,446,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Price Performance

VSTS traded up $0.04 during midday trading on Friday, reaching $6.24. 179,136 shares of the company's stock were exchanged, compared to its average volume of 2,322,503. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The stock has a market capitalization of $821.67 million, a PE ratio of 77.95 and a beta of 1.61. The business's 50-day moving average price is $7.76 and its 200 day moving average price is $12.12. Vestis Co. has a 1-year low of $5.20 and a 1-year high of $17.83.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The business had revenue of $665.25 million for the quarter, compared to analysts' expectations of $690.81 million. Vestis's revenue was down 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Vestis Co. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Robert W. Baird cut their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Barclays decreased their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group lowered their price objective on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $11.75.

Insider Activity

In related news, Director Douglas A. Pertz bought 70,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was acquired at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the purchase, the director now owns 297,010 shares in the company, valued at $1,832,551.70. This represents a 30.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William J. Seward bought 10,000 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer now owns 130,862 shares of the company's stock, valued at approximately $815,270.26. The trade was a 8.27% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 880,675 shares of company stock valued at $5,271,632 in the last three months. Corporate insiders own 13.60% of the company's stock.

About Vestis

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.