D. E. Shaw & Co. Inc. Takes $2.31 Million Position in Vestis Co. (NYSE:VSTS)

D. E. Shaw & Co. Inc. acquired a new stake in shares of Vestis Co. (NYSE:VSTS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 151,413 shares of the company’s stock, valued at approximately $2,308,000. D. E. Shaw & Co. Inc. owned approximately 0.11% of Vestis at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Spire Wealth Management bought a new stake in Vestis in the 4th quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its stake in Vestis by 548.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after acquiring an additional 2,123 shares in the last quarter. Quantbot Technologies LP bought a new stake in Vestis in the 4th quarter valued at approximately $93,000. Sterling Capital Management LLC lifted its stake in Vestis by 45.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,882 shares of the company’s stock valued at $120,000 after acquiring an additional 2,479 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Vestis in the 4th quarter valued at approximately $180,000. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on VSTS shares. Robert W. Baird cut their target price on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. The Goldman Sachs Group dropped their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, Barclays dropped their price objective on Vestis from $10.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, Vestis currently has a consensus rating of “Hold” and an average target price of $11.75.

Insider Buying and Selling at Vestis

In other news, COO William J. Seward acquired 10,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.23 per share, with a total value of $62,300.00. Following the acquisition, the chief operating officer now directly owns 130,862 shares in the company, valued at $815,270.26. This represents a 8.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas A. Pertz bought 70,000 shares of Vestis stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the acquisition, the director now owns 297,010 shares in the company, valued at $1,832,551.70. This represents a 30.84% increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Vestis Stock Down 2.2%

VSTS stock opened at $5.89 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $776.20 million, a PE ratio of 73.63 and a beta of 1.61. Vestis Co. has a 1-year low of $5.20 and a 1-year high of $17.83. The business’s 50 day simple moving average is $8.40 and its 200 day simple moving average is $12.49.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The business had revenue of $665.25 million for the quarter, compared to analyst estimates of $690.81 million. Vestis’s revenue was down 5.7% on a year-over-year basis. As a group, research analysts anticipate that Vestis Co. will post 0.7 EPS for the current 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.