Squarepoint Ops LLC Sells 558,997 Shares of Vestis Co. (NYSE:VSTS)

Squarepoint Ops LLC lessened its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 89.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,760 shares of the company's stock after selling 558,997 shares during the period. Squarepoint Ops LLC's holdings in Vestis were worth $1,002,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Vestis by 47.4% in the 4th quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company's stock valued at $47,635,000 after purchasing an additional 1,004,497 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Vestis by 46.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock worth $47,172,000 after purchasing an additional 980,303 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Vestis by 179.4% during the 4th quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock worth $45,777,000 after acquiring an additional 1,928,687 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Vestis by 2.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company's stock valued at $41,018,000 after purchasing an additional 59,824 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Vestis by 17.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock valued at $38,693,000 after buying an additional 382,071 shares during the period. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Trading Down 1.4%

Shares of NYSE:VSTS traded down $0.09 during mid-day trading on Wednesday, reaching $6.30. The stock had a trading volume of 2,456,719 shares, compared to its average volume of 2,187,890. Vestis Co. has a twelve month low of $5.20 and a twelve month high of $17.83. The firm has a market cap of $830.23 million, a PE ratio of 78.76 and a beta of 1.61. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The firm has a 50 day simple moving average of $7.45 and a two-hundred day simple moving average of $11.90.

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

Insider Buying and Selling

In related news, Director Douglas A. Pertz purchased 70,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was purchased at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the purchase, the director now directly owns 297,010 shares in the company, valued at $1,832,551.70. This trade represents a 30.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William J. Seward acquired 10,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were purchased at an average price of $6.23 per share, for a total transaction of $62,300.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 880,675 shares of company stock worth $5,271,632. 13.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VSTS shares. Robert W. Baird dropped their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Barclays dropped their target price on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $11.75.

Vestis 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.