Quantbot Technologies LP Takes $534,000 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 acquired a new stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,488 shares of the financial services provider's stock, valued at approximately $534,000.

A number of other institutional investors have also recently made changes to their positions in SMPL. Caitong International Asset Management Co. Ltd purchased a new stake in Simply Good Foods in the first quarter worth $55,000. Russell Investments Group Ltd. lifted its stake in Simply Good Foods by 2,055.7% in the first quarter. Russell Investments Group Ltd. now owns 3,018 shares of the financial services provider's stock worth $104,000 after acquiring an additional 2,878 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Simply Good Foods in the first quarter worth $105,000. Nisa Investment Advisors LLC lifted its stake in Simply Good Foods by 24.7% in the first quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the financial services provider's stock worth $131,000 after acquiring an additional 754 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in Simply Good Foods by 13.8% in the first quarter. Bayforest Capital Ltd now owns 4,599 shares of the financial services provider's stock worth $159,000 after acquiring an additional 557 shares during the period. Hedge funds and other institutional investors own 88.45% of the company's stock.

Insider Buying and Selling at Simply Good Foods

In related news, CEO Geoff E. Tanner purchased 6,050 shares of Simply Good Foods stock in a transaction dated Wednesday, July 23rd. The stock was purchased at an average cost of $33.11 per share, for a total transaction of $200,315.50. Following the completion of the acquisition, the chief executive officer directly owned 98,190 shares of the company's stock, valued at $3,251,070.90. The trade was a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.35% of the stock is owned by insiders.

Simply Good Foods Stock Down 0.0%

SMPL traded down $0.01 during trading on Friday, reaching $28.63. The stock had a trading volume of 1,012,839 shares, compared to its average volume of 1,189,097. The stock's 50 day moving average is $31.05 and its two-hundred day moving average is $33.78. The company has a current ratio of 3.95, a quick ratio of 2.46 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.81 and a beta of 0.59. The Simply Good Foods Company has a one year low of $28.14 and a one year high of $40.53.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 earnings per share 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 firm had revenue of $380.96 million during the quarter, compared to the consensus estimate of $381.68 million. During the same period last year, the company earned $0.50 earnings per share. The company's revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

Analyst Ratings Changes

SMPL has been the subject of a number of research analyst reports. DA Davidson dropped their price target on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. Sanford C. Bernstein set a $45.00 price target on Simply Good Foods and gave the stock an "outperform" rating in a research note on Friday, July 11th. Wall Street Zen downgraded Simply Good Foods from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. UBS Group set a $36.00 price objective on Simply Good Foods and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Finally, Citigroup decreased their price objective on Simply Good Foods from $43.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Simply Good Foods currently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Simply Good Foods Profile

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.