Maverick Capital Ltd. Sells 194,907 Shares of National Vision Holdings, Inc. $EYE

Key Points

• Maverick Capital Ltd. sold 194,907 shares of National Vision Holdings, Inc., reducing its stake by 87.1% in the first quarter, leaving it with 28,789 shares valued at $368,000.
• Insider sales were noted, with Chairman L Reade Fahs selling 137,400 shares, resulting in a 20.14% decrease in his holdings to approximately $13.25 million.
• Analysts have varied opinions on National Vision, with UBS rating it a "buy" with a target of $30.00, while Barclays revised their target down to $28.00, indicating differing views on the stock's value and potential.

Maverick Capital Ltd. cut its stake in shares of National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 87.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 28,789 shares of the company's stock after selling 194,907 shares during the period. Maverick Capital Ltd.'s holdings in National Vision were worth $368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EYE. Burgundy Asset Management Ltd. lifted its position in National Vision by 138.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 4,675,539 shares of the company's stock worth $48,719,000 after acquiring an additional 2,715,582 shares in the last quarter. Engine Capital Management LP increased its holdings in National Vision by 127.5% during the 4th quarter. Engine Capital Management LP now owns 2,528,053 shares of the company's stock worth $26,342,000 after purchasing an additional 1,417,002 shares during the last quarter. SG Capital Management LLC purchased a new stake in National Vision during the 4th quarter worth approximately $11,827,000. Federated Hermes Inc. increased its holdings in National Vision by 215.0% during the 1st quarter. Federated Hermes Inc. now owns 861,527 shares of the company's stock worth $11,010,000 after purchasing an additional 588,022 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in National Vision by 141.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 993,558 shares of the company's stock worth $12,718,000 after purchasing an additional 582,353 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America lifted their price objective on National Vision from $22.00 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded National Vision from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. National Bankshares set a $30.00 price objective on National Vision in a report on Tuesday, July 8th. Barclays dropped their price objective on National Vision from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Wells Fargo & Company set a $27.00 price target on National Vision and gave the company an "equal weight" rating in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.73.

Insider Transactions at National Vision

In related news, Chairman L Reade Fahs sold 137,400 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $24.33, for a total transaction of $3,342,942.00. Following the transaction, the chairman directly owned 544,795 shares in the company, valued at $13,254,862.35. The trade was a 20.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by company insiders.

National Vision Price Performance

Shares of National Vision stock traded up $0.37 during trading on Friday, hitting $23.48. The stock had a trading volume of 1,398,275 shares, compared to its average volume of 2,140,226. The business has a fifty day moving average of $24.09 and a two-hundred day moving average of $18.48. The firm has a market cap of $1.86 billion, a P/E ratio of -130.44, a PEG ratio of 2.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.52 and a quick ratio of 0.31. National Vision Holdings, Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $25.67.

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

National Vision 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.