Savers Value Village (NYSE:SVV) Stock Price Down 3.1% - Here's What Happened

Savers Value Village, Inc. (NYSE:SVV - Get Free Report)'s share price dropped 3.1% during mid-day trading on Thursday . The company traded as low as $10.47 and last traded at $10.55. Approximately 53,049 shares traded hands during trading, a decline of 93% from the average daily volume of 761,809 shares. The stock had previously closed at $10.88.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SVV shares. Northland Capmk raised shares of Savers Value Village to a "strong-buy" rating in a research note on Tuesday, June 10th. Northland Securities started coverage on shares of Savers Value Village in a report on Tuesday, June 10th. They issued an "outperform" rating and a $15.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Savers Value Village from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Piper Sandler boosted their target price on Savers Value Village from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, William Blair began coverage on Savers Value Village in a research report on Friday, April 4th. They issued an "outperform" rating for the company. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.29.

Savers Value Village Price Performance

The business has a 50-day simple moving average of $10.31 and a two-hundred day simple moving average of $9.61. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 72.54 and a beta of 0.99. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.57 and a current ratio of 0.74.

Insider Buying and Selling

In other news, General Counsel Richard A. Medway sold 16,490 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $11.49, for a total transaction of $189,470.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark T. Walsh sold 40,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $8.86, for a total transaction of $354,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,094 shares of company stock worth $550,834. Company insiders own 3.09% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in shares of Savers Value Village in the fourth quarter worth $36,000. GAMMA Investing LLC increased its position in Savers Value Village by 386.7% during the 1st quarter. GAMMA Investing LLC now owns 5,879 shares of the company's stock worth $41,000 after purchasing an additional 4,671 shares in the last quarter. Versant Capital Management Inc acquired a new position in Savers Value Village in the 1st quarter valued at about $51,000. KLP Kapitalforvaltning AS purchased a new position in Savers Value Village in the 4th quarter valued at about $57,000. Finally, Walleye Capital LLC acquired a new stake in shares of Savers Value Village during the 1st quarter worth about $74,000. 98.78% of the stock is currently owned by institutional investors and hedge funds.

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.