Engine Capital Management LP Boosts Stake in National Vision Holdings, Inc. $EYE

Key Points

• Engine Capital Management LP increased its holdings in National Vision Holdings, Inc. by 53.3%, making it the firm's 4th largest position at approximately $49.5 million.
• Institutional investors have shown strong interest, with notable stakes increased by firms like ProShare Advisors and GAMMA Investing during the 1st quarter of the year.
• The stock has a consensus rating of "Moderate Buy" with an average target price of $24.73, following recent positive earnings reports that exceeded analyst expectations.

Engine Capital Management LP boosted its stake in shares of National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 53.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,875,701 shares of the company's stock after purchasing an additional 1,347,648 shares during the period. National Vision accounts for about 9.4% of Engine Capital Management LP's investment portfolio, making the stock its 4th biggest holding. Engine Capital Management LP owned 4.90% of National Vision worth $49,531,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in National Vision during the first quarter valued at approximately $35,000. Smartleaf Asset Management LLC boosted its position in National Vision by 69.3% during the first quarter. Smartleaf Asset Management LLC now owns 3,004 shares of the company's stock valued at $39,000 after purchasing an additional 1,230 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in National Vision by 87.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,050 shares of the company's stock valued at $73,000 after purchasing an additional 3,291 shares during the last quarter. GAMMA Investing LLC boosted its position in National Vision by 49.2% during the first quarter. GAMMA Investing LLC now owns 7,318 shares of the company's stock valued at $94,000 after purchasing an additional 2,412 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in National Vision during the first quarter valued at approximately $147,000.

Insiders Place Their Bets

In other National Vision news, Chairman L Reade Fahs sold 137,400 shares of the firm's stock in a transaction on 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 owned 544,795 shares in the company, valued at $13,254,862.35. This trade represents a 20.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company's stock.

National Vision Stock Performance

NASDAQ:EYE traded down $0.40 during mid-day trading on Monday, hitting $23.08. 995,058 shares of the stock were exchanged, compared to its average volume of 2,108,355. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -128.22, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The firm's 50-day simple moving average is $24.09 and its 200 day simple moving average is $18.53. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.52. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $486.42 million during the quarter, compared to analysts' expectations of $469.21 million. National Vision had a positive return on equity of 3.56% and a negative net margin of 0.75%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS. As a group, equities analysts anticipate that National Vision Holdings, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EYE. Roth Capital began coverage on National Vision in a research report on Wednesday, July 30th. They issued a "buy" rating and a $36.00 price objective for the company. The Goldman Sachs Group raised their price objective on National Vision from $17.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Barclays cut their price objective on National Vision from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. BMO Capital Markets set a $19.00 price objective on National Vision and gave the company a "market perform" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company set a $27.00 price objective on 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 issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.73.

About National Vision

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.