Quantbot Technologies LP Purchases New Position in The Simply Good Foods Company $SMPL

Key Points

• Quantbot Technologies LP has acquired a new stake in The Simply Good Foods Company, purchasing 15,488 shares valued at approximately $534,000.
• Several large investors have increased their holdings in Simply Good Foods, with institutional investors now owning 88.45% of the company's stock.
• The company reported a quarterly revenue increase of 13.8% year-over-year, with earnings per share of $0.51, exceeding analyst expectations.

Quantbot Technologies LP bought a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,488 shares of the financial services provider's stock, valued at approximately $534,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Simply Good Foods during the fourth quarter valued at about $1,863,000. Mariner LLC bought a new stake in Simply Good Foods during the fourth quarter valued at about $288,000. MetLife Investment Management LLC raised its holdings in Simply Good Foods by 4.6% during the fourth quarter. MetLife Investment Management LLC now owns 55,123 shares of the financial services provider's stock valued at $2,149,000 after acquiring an additional 2,422 shares during the period. Lord Abbett & CO. LLC bought a new stake in Simply Good Foods during the fourth quarter valued at about $5,848,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Simply Good Foods in the fourth quarter worth about $312,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Simply Good Foods news, CEO Geoff E. Tanner bought 6,050 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was acquired at an average price of $33.11 per share, for a total transaction of $200,315.50. Following the completion of the transaction, the chief executive officer directly owned 98,190 shares of the company's stock, valued at approximately $3,251,070.90. This represents a 6.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SMPL has been the topic of several research reports. UBS Group set a $36.00 target price on Simply Good Foods and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Citigroup reduced their target price on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Stifel Nicolaus reduced their target price on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, June 27th. Wall Street Zen cut Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Mizuho reduced their target price on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, July 15th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $39.88.

Simply Good Foods Trading Down 1.6%

Shares of NASDAQ:SMPL traded down $0.48 during trading hours on Thursday, hitting $28.64. 989,118 shares of the company's stock traded hands, compared to its average volume of 1,198,913. The Simply Good Foods Company has a 1 year low of $28.14 and a 1 year high of $40.53. The business has a fifty day moving average price of $31.12 and a 200-day moving average price of $33.90. The firm has a market capitalization of $2.88 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 2.86 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.95 and a quick ratio of 2.46.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Simply Good Foods had a return on equity of 10.29% and a net margin of 9.97%.The business had revenue of $380.96 million during the quarter, compared to analyst estimates of $381.68 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.