Assenagon Asset Management S.A. Sells 319,402 Shares of The Simply Good Foods Company $SMPL

Assenagon Asset Management S.A. cut its position in The Simply Good Foods Company (NASDAQ:SMPL) by 78.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 85,909 shares of the financial services provider’s stock after selling 319,402 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Simply Good Foods were worth $1,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrive Wealth Management LLC acquired a new stake in Simply Good Foods in the 2nd quarter valued at $234,000. GAMMA Investing LLC grew its stake in Simply Good Foods by 385.3% in the second quarter. GAMMA Investing LLC now owns 13,594 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 10,793 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Simply Good Foods by 180.9% during the 2nd quarter. Versant Capital Management Inc now owns 6,942 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 4,471 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Simply Good Foods by 45.0% during the 1st quarter. Pacer Advisors Inc. now owns 469,445 shares of the financial services provider’s stock worth $6,737,000 after purchasing an additional 145,771 shares in the last quarter. Finally, Oaktree Capital Management LP bought a new position in shares of Simply Good Foods in the first quarter valued at $16,200,000. 88.45% of the stock is owned by institutional investors and hedge funds.

Simply Good Foods Price Performance

Shares of SMPL stock opened at $11.31 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80. The Simply Good Foods Company has a fifty-two week low of $9.88 and a fifty-two week high of $30.36. The firm has a market cap of $1.00 billion, a P/E ratio of -5.21 and a beta of 0.15. The business’s 50 day moving average price is $11.92 and its 200-day moving average price is $13.44.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $356.98 million for the quarter, compared to analyst estimates of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, equities research analysts anticipate that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. UBS Group set a $15.00 target price on Simply Good Foods in a research note on Friday, July 10th. Jefferies Financial Group set a $17.00 price objective on shares of Simply Good Foods in a research note on Tuesday, June 30th. TD Cowen reiterated a “hold” rating on shares of Simply Good Foods in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 price target on shares of Simply Good Foods in a research note on Friday, July 10th. Finally, Sanford C. Bernstein lowered Simply Good Foods from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $17.00 to $12.00 in a report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.20.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.