Wealth Enhancement Advisory Services LLC Sells 25,553 Shares of Vestis Corporation (NYSE:VSTS)

Wealth Enhancement Advisory Services LLC reduced its holdings in Vestis Corporation (NYSE:VSTS) by 34.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,718 shares of the company’s stock after selling 25,553 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Vestis were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSTS. Bank of New York Mellon Corp increased its stake in shares of Vestis by 20.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company’s stock worth $16,717,000 after purchasing an additional 188,661 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Vestis during the 4th quarter worth about $185,000. Smartleaf Asset Management LLC increased its stake in shares of Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Vestis by 17.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company’s stock worth $38,693,000 after purchasing an additional 382,071 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Vestis by 104.7% during the 4th quarter. Victory Capital Management Inc. now owns 130,085 shares of the company’s stock worth $1,982,000 after purchasing an additional 66,534 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Trading Up 0.2%

VSTS opened at $6.15 on Friday. Vestis Corporation has a twelve month low of $5.20 and a twelve month high of $17.83. The company has a quick ratio of 1.41, a current ratio of 1.87 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average of $6.45 and a 200-day moving average of $10.41. The stock has a market cap of $810.45 million, a PE ratio of -34.17 and a beta of 0.96.

Vestis (NYSE:VSTS) last issued its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a positive return on equity of 5.36% and a negative net margin of 0.89%. The company had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. Vestis’s revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Vestis Corporation will post 0.7 EPS for the current year.

Insider Activity

In other news, Director Douglas A. Pertz bought 70,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the acquisition, the director directly owned 297,010 shares in the company, valued at approximately $1,832,551.70. This trade represents a 30.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO William J. Seward acquired 10,000 shares of the stock in a transaction on Thursday, May 8th. The stock was bought at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the transaction, the chief operating officer owned 130,862 shares of the company’s stock, valued at approximately $815,270.26. This trade represents a 8.27% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 880,675 shares of company stock worth $5,271,632 over the last quarter. Insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

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

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.