Vision One Management Partners LP Has $32.12 Million Stake in Vestis Co. (NYSE:VSTS)

Vision One Management Partners LP grew its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,107,559 shares of the company's stock after buying an additional 538,739 shares during the period. Vestis accounts for 17.2% of Vision One Management Partners LP's investment portfolio, making the stock its 2nd biggest position. Vision One Management Partners LP owned approximately 1.60% of Vestis worth $32,119,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Pacer Advisors Inc. purchased a new stake in shares of Vestis in the fourth quarter valued at $210,766,000. AQR Capital Management LLC grew its position in shares of Vestis by 47.4% in the fourth 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 period. Dimensional Fund Advisors LP grew its position in shares of Vestis by 46.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock valued at $47,172,000 after purchasing an additional 980,303 shares during the period. Millennium Management LLC grew its position in shares of Vestis by 179.4% in the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock valued at $45,777,000 after purchasing an additional 1,928,687 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Vestis by 2.3% in the fourth 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. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Trading Up 2.9%

Vestis stock traded up $0.16 during midday trading on Thursday, reaching $5.75. The stock had a trading volume of 2,545,884 shares, compared to its average volume of 2,149,219. Vestis Co. has a twelve month low of $5.20 and a twelve month high of $17.83. The stock has a market capitalization of $757.75 million, a PE ratio of 71.88 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock's 50-day simple moving average is $8.30 and its 200 day simple moving average is $12.44.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.20). The company had revenue of $665.25 million for the quarter, compared to analyst estimates of $690.81 million. Vestis had a return on equity of 7.91% and a net margin of 0.34%. The business's revenue was down 5.7% compared to the same quarter last year. Analysts expect that Vestis Co. will post 0.7 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Vestis news, COO William J. Seward bought 10,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $6.23 per share, with a total value of $62,300.00. Following the completion of the transaction, the chief operating officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas A. Pertz bought 70,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the transaction, the director now owns 297,010 shares of the company's stock, valued at approximately $1,832,551.70. The trade was a 30.84% increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by insiders.

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.