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

Polar Asset Management Partners Inc. trimmed its position in shares of Vestis Co. (NYSE:VSTS - Free Report) by 49.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,000 shares of the company's stock after selling 132,000 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.10% of Vestis worth $2,027,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Gamco Investors INC. ET AL lifted its holdings in shares of Vestis by 2.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company's stock valued at $691,000 after purchasing an additional 875 shares during the last quarter. Bank of Montreal Can raised its holdings in Vestis by 11.1% in the 4th quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock worth $233,000 after acquiring an additional 1,534 shares during the last quarter. Swiss National Bank raised its holdings in Vestis by 0.7% in the 4th quarter. Swiss National Bank now owns 232,750 shares of the company's stock worth $3,547,000 after acquiring an additional 1,700 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Vestis by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock worth $681,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in Vestis in the 4th quarter worth approximately $29,000. 97.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO William J. Seward bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the transaction, the chief operating officer now owns 130,862 shares of the company's stock, valued at approximately $815,270.26. This represents a 8.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Douglas A. Pertz acquired 70,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were 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 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 Stock Performance

Shares of VSTS stock traded up $0.22 during mid-day trading on Thursday, reaching $5.81. 538,509 shares of the company's stock traded hands, compared to its average volume of 2,140,151. Vestis Co. has a 12 month low of $5.20 and a 12 month high of $17.83. The firm has a 50 day moving average price of $8.30 and a two-hundred day moving average price of $12.44. 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 firm has a market capitalization of $765.00 million, a PE ratio of 72.57 and a beta of 1.61.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 7.91% and a net margin of 0.34%. The firm's quarterly revenue was down 5.7% on a year-over-year basis. On average, research analysts forecast that Vestis Co. will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VSTS. Robert W. Baird decreased their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Barclays decreased their price objective 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. Finally, The Goldman Sachs Group decreased 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. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat.com, Vestis presently has a consensus rating of "Hold" and a consensus price target of $11.75.

Vestis Company 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.