Renaissance Technologies LLC Sells 333,212 Shares of The Simply Good Foods Company $SMPL

Key Points

• Renaissance Technologies cut its Simply Good Foods stake by 73% in the first quarter, selling 333,212 shares and retaining 123,000 shares worth approximately $1.765 million.
• Other institutional investors made significant purchases, including Arrowstreet Capital, which increased its holdings by 179.7%, while institutional investors collectively own 88.45% of SMPL. Director Clayton C. Daley Jr. also bought 10,000 shares at $11.78 each.
• Simply Good Foods exceeded quarterly expectations with $0.42 in EPS versus the $0.35 consensus and revenue of $356.98 million, although revenue fell 6.3% year over year. Analysts maintain a consensus “Hold” rating with a $15.20 target price, compared with a recent share price of $10.86.

Renaissance Technologies LLC reduced its stake in shares of The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 73.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 123,000 shares of the financial services provider's stock after selling 333,212 shares during the period. Renaissance Technologies LLC owned about 0.14% of Simply Good Foods worth $1,765,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SMPL. Gamco Investors INC. ET AL raised its position in Simply Good Foods by 13.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 32,920 shares of the financial services provider's stock valued at $472,000 after buying an additional 4,000 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in Simply Good Foods during the 1st quarter worth $485,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Simply Good Foods by 179.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,472,753 shares of the financial services provider's stock worth $21,134,000 after acquiring an additional 946,216 shares in the last quarter. Caxton Associates LLP grew its stake in shares of Simply Good Foods by 11.7% in the 1st quarter. Caxton Associates LLP now owns 93,925 shares of the financial services provider's stock worth $1,348,000 after acquiring an additional 9,847 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Simply Good Foods by 1,049.1% in the first quarter. Sei Investments Co. now owns 143,874 shares of the financial services provider's stock valued at $2,065,000 after purchasing an additional 131,353 shares during the last quarter. Institutional investors own 88.45% of the company's stock.

Insider Activity

In related news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the purchase, the director directly owned 111,743 shares in the company, valued at approximately $1,316,332.54. This trade represents a 9.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.76% of the stock is currently owned by insiders.

Simply Good Foods Price Performance

Shares of NASDAQ:SMPL opened at $10.86 on Wednesday. The company has a market capitalization of $960.69 million, a P/E ratio of -5.00 and a beta of 0.15. The company's 50-day moving average is $11.95 and its 200 day moving average is $13.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80. The Simply Good Foods Company has a fifty-two week low of $9.88 and a fifty-two week high of $30.36.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.07. The business had revenue of $356.98 million during the quarter, compared to the consensus estimate of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. On average, equities research analysts forecast that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SMPL shares. Weiss Ratings restated a "sell (d)" rating on shares of Simply Good Foods in a report on Thursday, June 18th. TD Cowen reiterated a "hold" rating on shares of Simply Good Foods in a research note on Friday, July 10th. Zacks Research raised shares of Simply Good Foods from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Jefferies Financial Group set a $17.00 target price on Simply Good Foods in a research note on Tuesday, June 30th. Finally, UBS Group set a $15.00 target price on Simply Good Foods in a report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.20.

Simply Good Foods Company Profile

Simply Good Foods Co NASDAQ: SMPL is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.

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