Vestis Corporation $VSTS Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its position in Vestis Corporation (NYSE:VSTS) by 71.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,900 shares of the company’s stock after selling 342,105 shares during the period. Y Intercept Hong Kong Ltd owned about 0.10% of Vestis worth $611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VSTS. Strs Ohio lifted its position in Vestis by 33.1% in the third quarter. Strs Ohio now owns 45,800 shares of the company’s stock valued at $207,000 after purchasing an additional 11,400 shares during the period. Simplicity Wealth LLC purchased a new position in shares of Vestis during the 3rd quarter worth approximately $46,000. Pullen Investment Management LLC lifted its holdings in shares of Vestis by 16.8% in the 3rd quarter. Pullen Investment Management LLC now owns 72,302 shares of the company’s stock valued at $328,000 after buying an additional 10,382 shares during the period. Abacus Planning Group Inc. boosted its stake in shares of Vestis by 8.9% in the third quarter. Abacus Planning Group Inc. now owns 28,058 shares of the company’s stock valued at $127,000 after buying an additional 2,294 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Vestis by 299.1% in the third quarter. Voya Investment Management LLC now owns 122,734 shares of the company’s stock valued at $556,000 after buying an additional 91,979 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Trading Up 1.1%

NYSE:VSTS opened at $6.76 on Wednesday. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $13.90. The company has a quick ratio of 1.64, a current ratio of 2.08 and a debt-to-equity ratio of 1.49. The stock has a fifty day simple moving average of $6.75 and a 200-day simple moving average of $5.63. The company has a market capitalization of $891.32 million, a PE ratio of -21.79 and a beta of 0.73.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Monday, December 1st. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $712.01 million for the quarter, compared to analysts’ expectations of $690.65 million. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.11 EPS. On average, equities research analysts expect that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on VSTS. The Goldman Sachs Group cut Vestis from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $6.30 to $5.30 in a research report on Thursday, January 8th. Robert W. Baird upped their price target on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. raised their price objective on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Vestis presently has a consensus rating of “Strong Sell” and a consensus target price of $5.70.

Insider Buying and Selling at Vestis

In related news, Director Douglas A. Pertz bought 15,000 shares of the stock in a transaction on Friday, December 19th. The shares were purchased at an average price of $6.90 per share, for a total transaction of $103,500.00. Following the acquisition, the director owned 322,010 shares in the company, valued at $2,221,869. This represents a 4.89% 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, CEO James J. Barber purchased 82,367 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were bought at an average cost of $6.36 per share, with a total value of $523,854.12. Following the transaction, the chief executive officer directly owned 642,469 shares of the company’s stock, valued at $4,086,102.84. This represents a 14.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 1,205,810 shares of company stock valued at $8,138,302. Company insiders own 15.70% of the company’s stock.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.