Polar Asset Management Partners Inc. Sells 132,000 Shares of Vestis Co. (NYSE:VSTS)

Polar Asset Management Partners Inc. lowered its stake in Vestis Co. (NYSE:VSTS - Free Report) by 49.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 133,000 shares of the company's stock after selling 132,000 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.10% of Vestis worth $2,027,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VSTS. Pullen Investment Management LLC acquired a new stake in shares of Vestis during the 4th quarter worth $918,000. Mackenzie Financial Corp acquired a new stake in shares of Vestis during the 4th quarter worth $300,000. Toronto Dominion Bank acquired a new stake in shares of Vestis during the 4th quarter worth $154,000. Neo Ivy Capital Management acquired a new stake in shares of Vestis during the 4th quarter worth $3,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Vestis by 4.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 320,684 shares of the company's stock worth $4,887,000 after buying an additional 13,150 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Wall Street Analyst Weigh In

VSTS has been the subject of several recent research reports. The Goldman Sachs Group lowered their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays lowered their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Finally, Robert W. Baird lowered their price target on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $11.75.

Vestis Stock Down 0.6%

Shares of Vestis stock traded down $0.04 during trading hours on Friday, hitting $6.16. 1,997,471 shares of the company's stock traded hands, compared to its average volume of 2,176,687. The stock has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $12.05. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The company has a market cap of $811.78 million, a PE ratio of 77.01 and a beta of 1.61. Vestis Co. has a twelve month low of $5.20 and a twelve month high of $17.83.

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

Insiders Place Their Bets

In other Vestis news, Director Keith A. Meister bought 377,277 shares of the business's stock in a transaction on Friday, May 23rd. The shares were purchased at an average price of $5.89 per share, with a total value of $2,222,161.53. Following the completion of the acquisition, the director now directly owns 18,380,501 shares of the company's stock, valued at approximately $108,261,150.89. The trade was a 2.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO William J. Seward purchased 10,000 shares of the business'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 acquisition, 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 acquired 880,675 shares of company stock valued at $5,271,632 over the last quarter. 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.