Vestis Corporation $VSTS Shares Bought by Jane Street Group LLC

Key Points

• Jane Street Group LLC has significantly increased its stake in Vestis Corporation, acquiring 1,734,442 shares, which represents a growth of 700.5% in the first quarter, bringing its total ownership to about 1.5% valued at $19.6 million.
• Major hedge funds, such as Alberta Investment Management Corp and Millennium Management LLC, have also substantially increased their positions in Vestis, with institutional investors owning 97.40% of the stock.
• Vestis Corporation reported earnings of $0.05 per share for the last quarter, meeting expectations, but revenue declined by 3.5% year-over-year, indicating potential challenges in performance.

Jane Street Group LLC grew its holdings in shares of Vestis Corporation (NYSE:VSTS - Free Report) by 700.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,982,027 shares of the company's stock after acquiring an additional 1,734,442 shares during the period. Jane Street Group LLC owned about 1.50% of Vestis worth $19,622,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of VSTS. Alberta Investment Management Corp grew its stake in Vestis by 65.2% in the first quarter. Alberta Investment Management Corp now owns 6,145,000 shares of the company's stock worth $60,836,000 after purchasing an additional 2,426,167 shares in the last quarter. Millennium Management LLC boosted its stake in 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 acquiring an additional 1,928,687 shares during the period. Royce & Associates LP boosted its stake in Vestis by 196.2% in the first quarter. Royce & Associates LP now owns 2,842,936 shares of the company's stock valued at $28,145,000 after acquiring an additional 1,883,106 shares during the period. AQR Capital Management LLC boosted its stake in Vestis by 49.4% in the first quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company's stock valued at $45,950,000 after acquiring an additional 1,544,001 shares during the period. Finally, Vision One Management Partners LP raised its holdings in shares of Vestis by 57.0% during the first quarter. Vision One Management Partners LP now owns 3,309,017 shares of the company's stock valued at $32,759,000 after buying an additional 1,201,458 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on VSTS. Wall Street Zen raised Vestis from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. dropped their target price on Vestis from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $9.13.

Vestis Price Performance

Shares of NYSE:VSTS opened at $4.21 on Friday. The company's fifty day moving average is $5.28 and its two-hundred day moving average is $7.00. The company has a quick ratio of 1.42, a current ratio of 1.84 and a debt-to-equity ratio of 1.45. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $17.83. The company has a market cap of $555.05 million, a P/E ratio of -18.30 and a beta of 0.97.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The company had revenue of $673.80 million for the quarter, compared to the consensus estimate of $673.65 million. During the same period in the previous year, the business earned $0.16 EPS. The company's revenue was down 3.5% on a year-over-year basis. Equities analysts expect that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

About Vestis

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.

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