Hussman Strategic Advisors Inc. Takes $2.09 Million Position in The Simply Good Foods Company $SMPL

Hussman Strategic Advisors Inc. purchased a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 84,000 shares of the financial services provider’s stock, valued at approximately $2,085,000. Hussman Strategic Advisors Inc. owned 0.08% of Simply Good Foods at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Savoir Faire Capital Management L.P. lifted its holdings in shares of Simply Good Foods by 96.8% in the 3rd quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock worth $3,623,000 after acquiring an additional 71,773 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Simply Good Foods by 740.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 162,845 shares of the financial services provider’s stock valued at $4,042,000 after purchasing an additional 143,458 shares during the last quarter. Teacher Retirement System of Texas raised its position in Simply Good Foods by 12.7% in the third quarter. Teacher Retirement System of Texas now owns 182,766 shares of the financial services provider’s stock valued at $4,536,000 after purchasing an additional 20,551 shares during the period. Covestor Ltd lifted its stake in Simply Good Foods by 49.2% during the third quarter. Covestor Ltd now owns 5,021 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Inscription Capital LLC purchased a new position in shares of Simply Good Foods during the third quarter worth $212,000. 88.45% of the stock is owned by institutional investors and hedge funds.

Simply Good Foods Stock Performance

NASDAQ:SMPL opened at $19.60 on Wednesday. The Simply Good Foods Company has a 12 month low of $18.45 and a 12 month high of $39.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.01 and a quick ratio of 3.24. The firm has a market capitalization of $1.81 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.63 and a beta of 0.27. The business’s fifty day moving average price is $19.82 and its 200 day moving average price is $24.09.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, January 8th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Simply Good Foods had a return on equity of 9.56% and a net margin of 6.26%.The company had revenue of $340.20 million during the quarter, compared to the consensus estimate of $337.64 million. During the same period in the previous year, the business earned $0.49 EPS. Simply Good Foods’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that The Simply Good Foods Company will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Simply Good Foods

In related news, insider Michael L. Clawson purchased 5,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the insider directly owned 37,620 shares of the company’s stock, valued at approximately $752,400. This trade represents a 15.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Timothy Allen Matthews sold 5,859 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $19.47, for a total transaction of $114,074.73. Following the sale, the chief accounting officer owned 18,065 shares of the company’s stock, valued at $351,725.55. This represents a 24.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on SMPL. UBS Group reiterated a “neutral” rating on shares of Simply Good Foods in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $22.00 target price on shares of Simply Good Foods in a research report on Monday, December 15th. Mizuho set a $30.00 price target on shares of Simply Good Foods in a research report on Thursday, January 15th. Stifel Nicolaus set a $32.00 price objective on shares of Simply Good Foods in a research note on Friday, October 24th. Finally, Jefferies Financial Group cut their target price on shares of Simply Good Foods from $32.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Simply Good Foods presently has an average rating of “Hold” and a consensus price target of $29.67.

About Simply Good Foods

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.