Wedge Capital Management L L P NC Sells 32,340 Shares of National Vision Holdings, Inc. $EYE

Key Points

• Wedge Capital Management L L P NC reduced its stake in National Vision Holdings by 25.8%, owning 92,767 shares valued at approximately $2.14 million after selling 32,340 shares.
• Several other institutional investors increased their positions in National Vision, including Engine Capital Management with a 53.3% growth during the first quarter.
• Analysts are optimistic about the stock, with Wall Street Zen upgrading it to a "buy" rating and numerous price targets set, ranging from $24.00 to $36.00.

Wedge Capital Management L L P NC decreased its holdings in shares of National Vision Holdings, Inc. (NASDAQ:EYE - Free Report) by 25.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,767 shares of the company's stock after selling 32,340 shares during the quarter. Wedge Capital Management L L P NC owned about 0.12% of National Vision worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in shares of National Vision during the 1st quarter valued at about $35,000. Smartleaf Asset Management LLC lifted its holdings in shares of National Vision by 69.3% during the first quarter. Smartleaf Asset Management LLC now owns 3,004 shares of the company's stock worth $39,000 after purchasing an additional 1,230 shares during the period. GAMMA Investing LLC raised its holdings in shares of National Vision by 49.2% in the first quarter. GAMMA Investing LLC now owns 7,318 shares of the company's stock worth $94,000 after acquiring an additional 2,412 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of National Vision during the 1st quarter valued at $142,000. Finally, CWM LLC boosted its holdings in shares of National Vision by 61.2% in the 1st quarter. CWM LLC now owns 11,494 shares of the company's stock valued at $147,000 after buying an additional 4,362 shares during the period.

National Vision Price Performance

Shares of EYE traded down $0.32 during trading hours on Monday, reaching $26.60. The company had a trading volume of 2,523,459 shares, compared to its average volume of 2,112,503. The company has a current ratio of 0.52, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -147.78, a PEG ratio of 3.18 and a beta of 1.23. The firm has a 50 day simple moving average of $24.11 and a 200-day simple moving average of $19.46. National Vision Holdings, Inc. has a 12-month low of $9.56 and a 12-month high of $27.05.

National Vision (NASDAQ:EYE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The business had revenue of $486.42 million during the quarter, compared to the consensus estimate of $469.21 million. National Vision had a negative net margin of 0.75% and a positive return on equity of 3.56%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. Research analysts expect that National Vision Holdings, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at National Vision

In related news, Chairman L Reade Fahs sold 137,400 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $24.33, for a total value of $3,342,942.00. Following the completion of the sale, the chairman directly owned 544,795 shares in the company, valued at approximately $13,254,862.35. This trade represents a 20.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EYE. Wall Street Zen upgraded shares of National Vision from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Roth Capital initiated coverage on National Vision in a research report on Wednesday, July 30th. They issued a "buy" rating and a $36.00 target price for the company. Barclays cut their price target on National Vision from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wells Fargo & Company set a $27.00 price target on shares of National Vision and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group boosted their target price on shares of National Vision from $17.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.73.

About National Vision

National Vision Holdings, Inc, through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America's Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services.