Y Intercept Hong Kong Ltd Acquires 113,768 Shares of Vestis Corporation (NYSE:VSTS)

Y Intercept Hong Kong Ltd grew its position in shares of Vestis Corporation (NYSE:VSTS - Free Report) by 587.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,145 shares of the company's stock after buying an additional 113,768 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.10% of Vestis worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Vestis in the 4th quarter valued at $29,000. Spire Wealth Management increased its holdings in shares of Vestis by 168.2% during the 1st quarter. Spire Wealth Management now owns 5,110 shares of the company's stock valued at $51,000 after acquiring an additional 3,205 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after acquiring an additional 1,346 shares in the last quarter. KBC Group NV lifted its stake in shares of Vestis by 54.2% in the first quarter. KBC Group NV now owns 7,309 shares of the company's stock worth $72,000 after buying an additional 2,568 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Vestis in the 4th quarter valued at $93,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Stock Performance

Shares of NYSE VSTS traded up $0.01 during mid-day trading on Friday, hitting $6.39. The company had a trading volume of 1,051,063 shares, compared to its average volume of 2,925,986. The business's 50-day simple moving average is $6.08 and its 200-day simple moving average is $9.38. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.87 and a quick ratio of 1.41. The firm has a market cap of $841.43 million, a P/E ratio of -35.47 and a beta of 0.96. Vestis Corporation has a 12 month low of $5.20 and a 12 month high of $17.83.

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). The firm had revenue of $665.25 million during the quarter, compared to the consensus estimate of $690.81 million. Vestis had a positive return on equity of 5.36% and a negative net margin of 0.89%. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, analysts predict that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. restated an "underweight" rating and set a $6.00 target price (up previously from $5.00) on shares of Vestis in a research note on Monday, July 14th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, Vestis has an average rating of "Hold" and a consensus target price of $9.25.

Insider Activity

In other news, Director Douglas A. Pertz purchased 70,000 shares of Vestis stock in a transaction on Thursday, May 8th. The shares were purchased 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 directly owned 297,010 shares in the company, valued at approximately $1,832,551.70. This represents a 30.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister bought 314,390 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average price of $6.03 per share, with a total value of $1,895,771.70. Following the purchase, the director directly owned 18,803,899 shares of the company's stock, valued at $113,387,510.97. The trade was a 1.70% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 880,675 shares of company stock worth $5,271,632. Company insiders own 13.60% of the company's stock.

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.