Polar Asset Management Partners Inc. Sells 132,000 Shares of Vestis Co. (NYSE:VSTS)

Polar Asset Management Partners Inc. reduced its stake in shares of Vestis Co. (NYSE:VSTS - Free Report) by 49.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 133,000 shares of the company's stock after selling 132,000 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.10% of Vestis worth $2,027,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in VSTS. Annex Advisory Services LLC boosted its stake in Vestis by 13.5% during the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock worth $4,479,000 after acquiring an additional 34,951 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Vestis in the fourth quarter worth $2,194,000. Proficio Capital Partners LLC purchased a new stake in shares of Vestis in the fourth quarter worth $185,000. Ieq Capital LLC boosted its position in shares of Vestis by 689.7% during the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company's stock worth $2,449,000 after acquiring an additional 140,324 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Vestis by 17.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock worth $38,693,000 after acquiring an additional 382,071 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Trading Down 2.2%

NYSE VSTS traded down $0.13 during mid-day trading on Tuesday, hitting $5.89. The company's stock had a trading volume of 1,948,821 shares, compared to its average volume of 2,139,511. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. Vestis Co. has a 52-week low of $5.20 and a 52-week high of $17.83. The stock's fifty day simple moving average is $8.49 and its two-hundred day simple moving average is $12.54. The firm has a market capitalization of $776.20 million, a P/E ratio of 73.63 and a beta of 1.61.

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

Analyst Ratings Changes

VSTS has been the subject of several analyst reports. Barclays lowered their target price on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group lowered their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, Robert W. Baird lowered their target price 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. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, Vestis currently has a consensus rating of "Hold" and an average price target of $11.75.

Insider Transactions at Vestis

In other Vestis news, COO William J. Seward purchased 10,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was bought 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 in the company, valued at $815,270.26. This represents a 8.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas A. Pertz purchased 70,000 shares of the stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the transaction, 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.

Vestis Profile

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.