Quantbot Technologies LP Grows Position in Vestis Corporation $VSTS

Key Points

• Quantbot Technologies LP significantly increased its stake in Vestis Corporation, boosting its holdings by 2,918.4% to 184,844 shares, valued at approximately $1.83 million.
• Vestis Corporation's stock has recently seen a 3.2% decline, with current trading at $4.6850, reflecting a stark contrast from its one-year high of $17.83.
• Insider activity is notable, with director Keith A. Meister purchasing 314,390 shares, increasing his ownership stake in Vestis to 18.8 million shares.

Quantbot Technologies LP grew its stake in shares of Vestis Corporation (NYSE:VSTS - Free Report) by 2,918.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,844 shares of the company's stock after acquiring an additional 178,720 shares during the quarter. Quantbot Technologies LP owned about 0.14% of Vestis worth $1,830,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in shares of Vestis during the 4th quarter valued at about $29,000. Spire Wealth Management boosted its holdings in shares of Vestis by 168.2% in the first quarter. Spire Wealth Management now owns 5,110 shares of the company's stock worth $51,000 after buying an additional 3,205 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in shares of Vestis by 33.0% in the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock worth $54,000 after buying an additional 1,346 shares during the last quarter. KBC Group NV boosted its holdings in shares of Vestis by 54.2% in the first quarter. KBC Group NV now owns 7,309 shares of the company's stock worth $72,000 after buying an additional 2,568 shares during the last quarter. Finally, Bfsg LLC boosted its holdings in shares of Vestis by 128.2% in the first quarter. Bfsg LLC now owns 14,210 shares of the company's stock worth $141,000 after buying an additional 7,984 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Insider Activity at Vestis

In related news, Director Keith A. Meister bought 314,390 shares of the stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average price of $6.03 per share, with a total value of $1,895,771.70. Following the completion of the acquisition, the director owned 18,803,899 shares of the company's stock, valued at $113,387,510.97. This represents a 1.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.60% of the company's stock.

Vestis Price Performance

NYSE:VSTS traded up $0.0650 during trading hours on Friday, hitting $4.7550. 2,380,341 shares of the stock traded hands, compared to its average volume of 2,284,429. The company has a quick ratio of 1.42, a current ratio of 1.84 and a debt-to-equity ratio of 1.45. Vestis Corporation has a 1 year low of $4.32 and a 1 year high of $17.83. The company has a market cap of $626.90 million, a price-to-earnings ratio of 19.12 and a beta of 0.96. The stock has a 50 day moving average price of $5.73 and a 200 day moving average price of $7.89.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The business had revenue of $673.80 million for the quarter, compared to the consensus estimate of $673.65 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company's revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts forecast that Vestis Corporation will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Vestis from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $9.13.

Vestis Company Profile

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.