Fred Alger Management LLC Cuts Stock Position in Savers Value Village, Inc. (NYSE:SVV)

Fred Alger Management LLC reduced its stake in Savers Value Village, Inc. (NYSE:SVV - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 246,975 shares of the company's stock after selling 57,274 shares during the quarter. Fred Alger Management LLC owned 0.15% of Savers Value Village worth $2,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in Savers Value Village in the fourth quarter valued at approximately $36,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Savers Value Village in the fourth quarter valued at $57,000. Wells Fargo & Company MN raised its holdings in shares of Savers Value Village by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 10,931 shares of the company's stock valued at $112,000 after buying an additional 3,725 shares during the period. AlphaQuest LLC acquired a new position in Savers Value Village in the 4th quarter valued at about $113,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Savers Value Village during the fourth quarter worth about $114,000. Hedge funds and other institutional investors own 98.78% of the company's stock.

Insider Buying and Selling

In other Savers Value Village news, General Counsel Richard A. Medway sold 16,490 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $11.49, for a total value of $189,470.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider T. Charles Hunsinger purchased 6,000 shares of Savers Value Village stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $7.25 per share, with a total value of $43,500.00. Following the transaction, the insider now owns 14,100 shares in the company, valued at $102,225. The trade was a 74.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SVV. William Blair initiated coverage on shares of Savers Value Village in a research report on Friday, April 4th. They set an "outperform" rating on the stock. UBS Group decreased their price target on shares of Savers Value Village from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on Savers Value Village from $10.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group increased their price objective on Savers Value Village from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Piper Sandler upped their price target on Savers Value Village from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Savers Value Village presently has a consensus rating of "Moderate Buy" and an average target price of $11.83.

Savers Value Village Stock Up 0.2%

NYSE SVV traded up $0.02 during trading on Thursday, reaching $9.59. 4,020,055 shares of the company's stock were exchanged, compared to its average volume of 774,365. The company has a 50 day moving average price of $8.49 and a two-hundred day moving average price of $9.47. The stock has a market cap of $1.51 billion, a P/E ratio of 53.00 and a beta of 0.95. Savers Value Village, Inc. has a 1 year low of $6.48 and a 1 year high of $14.41. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.86 and a current ratio of 1.04.

Savers Value Village (NYSE:SVV - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $401.99 million during the quarter, compared to analysts' expectations of $402.00 million. Savers Value Village had a net margin of 1.89% and a return on equity of 8.74%. On average, equities research analysts anticipate that Savers Value Village, Inc. will post 0.28 EPS for the current fiscal year.

Savers Value Village Company Profile

Savers Value Village, Inc sells second-hand merchandise in retail stores in the United States, Canada, and Australia. It operates stores under the Savers, Value Village, Value Village Boutique, Village des Valeurs, Unique, and 2nd Avenue brands. The company purchases secondhand textiles, including clothing, bedding, and bath items; shoes; accessories; housewares; books; and other goods from non-profit partners and then processes, selects, prices, merchandises, and sells them in its stores.