Two Sigma Investments LP Raises Stock Position in Vestis Co. (NYSE:VSTS)

Two Sigma Investments LP raised its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,823 shares of the company's stock after purchasing an additional 46,077 shares during the quarter. Two Sigma Investments LP owned 0.18% of Vestis worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. True Wealth Design LLC bought a new stake in Vestis during the fourth quarter valued at approximately $29,000. Stanley Capital Management LLC lifted its position in Vestis by 12.1% during the fourth quarter. Stanley Capital Management LLC now owns 831,300 shares of the company's stock valued at $12,669,000 after purchasing an additional 90,000 shares during the last quarter. State of Wyoming lifted its holdings in shares of Vestis by 244.4% in the 4th quarter. State of Wyoming now owns 60,483 shares of the company's stock worth $922,000 after acquiring an additional 42,922 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Vestis in the 4th quarter worth approximately $154,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Vestis by 134.1% in the 4th quarter. Quantinno Capital Management LP now owns 25,823 shares of the company's stock worth $394,000 after acquiring an additional 14,790 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Trading Up 2.7%

Shares of NYSE VSTS traded up $0.17 during mid-day trading on Monday, hitting $6.33. The stock had a trading volume of 3,625,159 shares, compared to its average volume of 2,182,457. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. Vestis Co. has a 1 year low of $5.20 and a 1 year high of $17.83. The business has a 50 day moving average price of $7.68 and a two-hundred day moving average price of $12.03. The firm has a market cap of $833.53 million, a P/E ratio of 79.07 and a beta of 1.61.

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

Analyst Ratings Changes

VSTS has been the subject of a number of recent research reports. Barclays lowered their price objective on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Robert W. Baird lowered their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Finally, The Goldman Sachs Group lowered their price objective on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $11.75.

Insider Buying and Selling

In related news, Director Douglas A. Pertz acquired 70,000 shares of Vestis stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $6.17 per share, with a total value of $431,900.00. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister acquired 377,277 shares of Vestis stock in a transaction on Friday, May 23rd. The shares were bought at an average cost of $5.89 per share, for a total transaction of $2,222,161.53. Following the completion of the transaction, the director now owns 18,380,501 shares in the company, valued at approximately $108,261,150.89. This trade represents a 2.10% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 880,675 shares of company stock valued at $5,271,632 over the last three months. 13.60% of the stock is owned by company insiders.

Vestis Company 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.