Penn Capital Management Company LLC Sells 438,727 Shares of National Vision Holdings, Inc. $EYE

Key Points

• Penn Capital Management Company LLC has significantly reduced its stake in National Vision Holdings, Inc., selling 438,727 shares and now owning about 41,169 shares, which represents a 91.4% decrease in their position.
• National Vision reported earnings of $0.18 per share for the latest quarter, surpassing analysts' expectations of $0.12, with revenues of $486.42 million, marking a 7.7% increase year-over-year.
• Wall Street analysts have mixed views on National Vision, with a consensus rating of "Moderate Buy" and a price target averaging $24.73, indicating potential growth ahead for the stock.

Penn Capital Management Company LLC decreased its stake in shares of National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 91.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,169 shares of the company's stock after selling 438,727 shares during the period. Penn Capital Management Company LLC owned about 0.05% of National Vision worth $526,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in National Vision by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 23,480 shares of the company's stock worth $245,000 after acquiring an additional 7,221 shares during the period. Janney Montgomery Scott LLC bought a new position in National Vision in the first quarter worth approximately $467,000. GAMMA Investing LLC raised its position in National Vision by 49.2% in the first quarter. GAMMA Investing LLC now owns 7,318 shares of the company's stock worth $94,000 after acquiring an additional 2,412 shares during the period. SG Americas Securities LLC raised its position in National Vision by 282.5% in the first quarter. SG Americas Securities LLC now owns 75,843 shares of the company's stock worth $969,000 after acquiring an additional 56,017 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in National Vision in the fourth quarter worth approximately $860,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on EYE. UBS Group reiterated a "buy" rating and issued a $30.00 price target on shares of National Vision in a research report on Tuesday, July 8th. BMO Capital Markets set a $19.00 price objective on shares of National Vision and gave the company a "market perform" rating in a research report on Monday, May 19th. Bank of America raised their price objective on shares of National Vision from $22.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. National Bankshares set a $30.00 price objective on shares of National Vision in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company set a $27.00 price objective on shares of National Vision and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.73.

National Vision Trading Down 2.9%

Shares of EYE stock traded down $0.68 during trading hours on Friday, reaching $22.72. 374,161 shares of the stock were exchanged, compared to its average volume of 2,099,015. 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 0.31 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $24.11 and its 200-day moving average price is $18.00. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -126.44, a price-to-earnings-growth ratio of 2.88 and a beta of 1.27.

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

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.