Redwood Investment Management LLC Sells 41,787 Shares of Vestis Co. (NYSE:VSTS)

Redwood Investment Management LLC lowered its position in Vestis Co. (NYSE:VSTS - Free Report) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,043 shares of the company's stock after selling 41,787 shares during the period. Redwood Investment Management LLC owned 0.12% of Vestis worth $2,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC lifted its stake in shares of Vestis by 445.4% during the third quarter. Barclays PLC now owns 51,981 shares of the company's stock valued at $774,000 after acquiring an additional 42,450 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Vestis by 3.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock valued at $681,000 after purchasing an additional 1,735 shares during the period. Pallas Capital Advisors LLC lifted its position in Vestis by 13.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 26,868 shares of the company's stock valued at $409,000 after purchasing an additional 3,287 shares during the period. Merit Financial Group LLC bought a new position in shares of Vestis in the 4th quarter valued at about $234,000. Finally, Annex Advisory Services LLC grew its position in shares of Vestis by 13.5% during the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock worth $4,479,000 after buying an additional 34,951 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Trading Down 1.2%

NYSE:VSTS traded down $0.08 during trading hours on Tuesday, hitting $5.95. The stock had a trading volume of 607,380 shares, compared to its average volume of 2,300,721. The business's 50 day moving average is $8.49 and its 200-day moving average is $12.54. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company has a market cap of $783.45 million, a price-to-earnings ratio of 74.32 and a beta of 1.61. Vestis Co. has a one year low of $5.20 and a one year high of $17.83.

Vestis (NYSE:VSTS - Get Free Report) last released 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). The firm had revenue of $665.25 million during the quarter, compared to the consensus estimate of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. The business's quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts anticipate that Vestis Co. will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VSTS. The Goldman Sachs Group cut their price objective on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Robert W. Baird dropped their target price on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Finally, Barclays reduced their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $11.75.

Insider Transactions at Vestis

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

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.