Advantage Solutions (NASDAQ:ADV) Stock Price Up 35.3% – Here’s What Happened

Advantage Solutions Inc. (NASDAQ:ADV)’s share price shot up 35.3% on Wednesday. The company traded as high as $38.41 and last traded at $39.4440. Approximately 13,265 shares were traded during trading, a decline of 84% from the average daily volume of 82,913 shares. The stock had previously closed at $29.15.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen cut Advantage Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Morgan Stanley lowered their price target on Advantage Solutions from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, August 6th. Zacks Research upgraded Advantage Solutions from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Advantage Solutions in a report on Friday, October 30th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.00.

Advantage Solutions Stock Performance

The company’s 50-day moving average price is $31.00 and its 200 day moving average price is $30.33. The company has a debt-to-equity ratio of 3.77, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $394.60 million, a PE ratio of -1.24 and a beta of 2.21.

Advantage Solutions (NASDAQ:ADV) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($4.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($4.42). Advantage Solutions had a negative net margin of 8.91% and a negative return on equity of 59.70%. The company had revenue of $757.40 million for the quarter, compared to analysts’ expectations of $887.30 million. On average, equities research analysts expect that Advantage Solutions Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of Advantage Solutions by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,187 shares of the company’s stock valued at $527,000 after purchasing an additional 887 shares during the period. State of Wyoming purchased a new stake in Advantage Solutions in the third quarter worth $93,000. Squarepoint Ops LLC purchased a new stake in Advantage Solutions in the second quarter worth $456,000. Finally, State Street Corp bought a new position in Advantage Solutions in the second quarter worth $3,913,000. Hedge funds and other institutional investors own 49.82% of the company’s stock.

Advantage Solutions Company Profile

Advantage Solutions Inc is a provider of outsourced sales and marketing services for consumer goods manufacturers, retailers and other brands. The company helps clients improve how their products are presented, promoted and sold across retail, e-commerce and other consumer channels.

Its services include retail merchandising, sales representation, brand marketing, experiential marketing, digital and omnichannel marketing, category management, analytics and business intelligence. Advantage Solutions also provides services designed to support product launches, in-store execution, shopper engagement and connections between brands and consumers.

The company serves clients primarily in the United States and Canada, working across categories such as food and beverage, consumer packaged goods, health and wellness, beauty and household products.