GAM Holding AG Invests $1.26 Million in Vestis Corporation $VSTS

GAM Holding AG acquired a new position in shares of Vestis Corporation (NYSE:VSTS) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 220,000 shares of the company’s stock, valued at approximately $1,261,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VSTS. New York State Common Retirement Fund boosted its position in Vestis by 7.3% during the 1st quarter. New York State Common Retirement Fund now owns 368,747 shares of the company’s stock worth $3,651,000 after acquiring an additional 25,044 shares during the period. Jane Street Group LLC boosted its position in Vestis by 700.5% during the 1st quarter. Jane Street Group LLC now owns 1,982,027 shares of the company’s stock worth $19,622,000 after acquiring an additional 1,734,442 shares during the period. Fox Run Management L.L.C. acquired a new stake in Vestis in the first quarter worth about $637,000. Stanley Capital Management LLC grew its position in Vestis by 163.6% in the 1st quarter. Stanley Capital Management LLC now owns 2,191,107 shares of the company’s stock valued at $21,692,000 after buying an additional 1,359,807 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Vestis in the 2nd quarter valued at about $710,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Thursday, August 7th. Wall Street Zen upgraded Vestis from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Vestis presently has a consensus rating of “Strong Sell” and a consensus price target of $9.13.

Vestis Price Performance

Shares of NYSE VSTS opened at $5.27 on Friday. Vestis Corporation has a twelve month low of $3.98 and a twelve month high of $17.83. The company has a market capitalization of $695.19 million, a price-to-earnings ratio of -22.93 and a beta of 0.97. The firm has a 50-day moving average of $4.66 and a two-hundred day moving average of $5.73. The company has a current ratio of 1.84, a quick ratio of 1.42 and a debt-to-equity ratio of 1.45.

Vestis (NYSE:VSTS) last released its earnings results on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The business had revenue of $673.80 million during the quarter, compared to analyst estimates of $673.65 million. During the same period in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, analysts expect that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

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.