GSA Capital Partners LLP Has $2.30 Million Holdings in The Simply Good Foods Company (NASDAQ:SMPL)

Key Points

• GSA Capital Partners LLP has increased its stake in The Simply Good Foods Company by 126.2%, now owning approximately 0.07% of the company worth around $2.3 million.
• CEO Geoff E. Tanner purchased 6,050 shares of the company at an average price of $33.11, raising his total ownership to about 98,190 shares valued at over $3.25 million.
• Several analysts have cut their price targets for Simply Good Foods, with Citigroup lowering it from $43.00 to $40.00 while maintaining a "buy" rating.

GSA Capital Partners LLP boosted its holdings in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) by 126.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,620 shares of the financial services provider's stock after acquiring an additional 37,164 shares during the quarter. GSA Capital Partners LLP owned about 0.07% of Simply Good Foods worth $2,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Simply Good Foods by 105.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,615 shares of the financial services provider's stock worth $1,711,000 after acquiring an additional 25,484 shares in the last quarter. TD Asset Management Inc increased its position in shares of Simply Good Foods by 4.0% in the first quarter. TD Asset Management Inc now owns 81,804 shares of the financial services provider's stock worth $2,821,000 after acquiring an additional 3,158 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Simply Good Foods by 144.9% in the first quarter. Pacer Advisors Inc. now owns 8,450 shares of the financial services provider's stock worth $291,000 after acquiring an additional 5,000 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Simply Good Foods by 10.0% in the first quarter. Cetera Investment Advisers now owns 6,124 shares of the financial services provider's stock worth $211,000 after acquiring an additional 555 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Simply Good Foods in the first quarter worth $1,125,000. 88.45% of the stock is currently owned by institutional investors.

Insider Activity at Simply Good Foods

In other news, CEO Geoff E. Tanner purchased 6,050 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were bought at an average price of $33.11 per share, with a total value of $200,315.50. Following the completion of the transaction, the chief executive officer directly owned 98,190 shares in the company, valued at $3,251,070.90. This trade represents a 6.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.35% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SMPL shares. Morgan Stanley raised their target price on Simply Good Foods from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 10th. Stifel Nicolaus decreased their target price on Simply Good Foods from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, June 27th. DA Davidson decreased their target price on Simply Good Foods from $42.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. UBS Group set a $36.00 target price on Simply Good Foods and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Mizuho decreased their target price on Simply Good Foods from $47.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $39.88.

Simply Good Foods Stock Down 1.5%

Shares of SMPL traded down $0.44 during mid-day trading on Friday, hitting $30.02. 611,619 shares of the company's stock were exchanged, compared to its average volume of 1,108,709. The firm has a fifty day moving average of $32.88 and a two-hundred day moving average of $34.91. The Simply Good Foods Company has a twelve month low of $30.05 and a twelve month high of $40.53. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 3.05 and a beta of 0.68. The company has a quick ratio of 2.46, a current ratio of 3.95 and a debt-to-equity ratio of 0.14.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 10th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Simply Good Foods had a net margin of 9.97% and a return on equity of 10.29%. The company had revenue of $380,956 billion for the quarter, compared to analyst estimates of $381.68 million. During the same quarter in the prior year, the business posted $0.50 EPS. Simply Good Foods's quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts forecast that The Simply Good Foods Company will post 1.78 earnings per share for the current year.

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.