Vestis Co. (NYSE:VSTS) Stock Position Boosted by LMR Partners LLP

LMR Partners LLP grew its holdings in shares of Vestis Co. (NYSE:VSTS - Free Report) by 62.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,000 shares of the company's stock after buying an additional 99,472 shares during the quarter. LMR Partners LLP owned 0.20% of Vestis worth $3,962,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Spire Wealth Management purchased a new position in shares of Vestis in the fourth quarter valued at $29,000. Smartleaf Asset Management LLC boosted its stake in shares of Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock valued at $38,000 after purchasing an additional 2,123 shares during the period. Quantbot Technologies LP purchased a new position in shares of Vestis in the fourth quarter valued at $93,000. Sterling Capital Management LLC boosted its stake in shares of Vestis by 45.9% in the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock valued at $120,000 after purchasing an additional 2,479 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in shares of Vestis in the fourth quarter valued at $180,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Vestis news, Director Douglas A. Pertz bought 70,000 shares of the company's stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, with a total value of $431,900.00. Following the completion of the acquisition, the director now owns 297,010 shares of the company's stock, valued at approximately $1,832,551.70. This trade represents a 30.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO William J. Seward bought 10,000 shares of the company's stock in a transaction on Thursday, May 8th. The shares were acquired at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the acquisition, the chief operating officer now directly owns 130,862 shares of the company's stock, valued at $815,270.26. This trade represents a 8.27% increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is owned by corporate insiders.

Vestis Stock Down 0.7%

NYSE VSTS traded down $0.04 during trading hours on Friday, reaching $6.16. 1,939,836 shares of the company traded hands, compared to its average volume of 2,139,607. Vestis Co. has a 12 month low of $5.20 and a 12 month high of $17.83. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $811.52 million, a PE ratio of 76.98 and a beta of 1.61. The company has a 50 day moving average of $8.59 and a two-hundred day moving average of $12.59.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.20). Vestis had a net margin of 0.34% and a return on equity of 7.91%. The company had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The company's revenue for the quarter was down 5.7% on a year-over-year basis. As a group, equities analysts expect that Vestis Co. will post 0.7 earnings per share for the current 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.