Pullen Investment Management LLC Makes New Investment in Vestis Co. (NYSE:VSTS)

Pullen Investment Management LLC purchased a new stake in Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 60,246 shares of the company's stock, valued at approximately $918,000.

A number of other hedge funds also recently made changes to their positions in the business. Spire Wealth Management bought a new stake in Vestis in the fourth quarter valued at about $29,000. True Wealth Design LLC bought a new stake in shares of Vestis in the 4th quarter valued at approximately $29,000. Smartleaf Asset Management LLC raised its holdings in shares of Vestis by 548.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock worth $38,000 after buying an additional 2,123 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Vestis in the 4th quarter worth approximately $93,000. Finally, Sterling Capital Management LLC lifted its position in shares of Vestis by 45.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock worth $120,000 after buying an additional 2,479 shares during the period. Institutional investors and hedge funds own 97.40% of the company's stock.

Insider Buying and Selling

In related news, COO William J. Seward purchased 10,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $6.23 per share, with a total value of $62,300.00. Following the purchase, the chief operating officer now directly owns 130,862 shares in the company, valued at $815,270.26. The trade was a 8.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Keith A. Meister acquired 314,390 shares of Vestis stock in a transaction that occurred on Wednesday, May 28th. The shares were purchased at an average cost of $6.03 per share, for a total transaction of $1,895,771.70. Following the purchase, the director now directly owns 18,803,899 shares in the company, valued at $113,387,510.97. The trade was a 1.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 880,675 shares of company stock valued at $5,271,632 over the last three months. Company insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Vestis Trading Up 0.6%

Vestis stock traded up $0.04 during trading hours on Friday, reaching $6.24. 656,862 shares of the company's stock traded hands, compared to its average volume of 2,165,581. The firm has a market capitalization of $821.67 million, a price-to-earnings ratio of 77.95 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. Vestis Co. has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The firm's 50 day moving average is $7.76 and its 200-day moving average is $12.12.

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

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.