PNC Financial Services Group Inc. Reduces Holdings in National Vision Holdings, Inc. $EYE

PNC Financial Services Group Inc. trimmed its stake in National Vision Holdings, Inc. (NASDAQ:EYE) by 24.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,344 shares of the company’s stock after selling 1,081 shares during the period. PNC Financial Services Group Inc.’s holdings in National Vision were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Burgundy Asset Management Ltd. grew its position in shares of National Vision by 138.6% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,675,539 shares of the company’s stock valued at $48,719,000 after buying an additional 2,715,582 shares during the last quarter. Dimensional Fund Advisors LP grew its position in National Vision by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,702,371 shares of the company’s stock worth $38,577,000 after purchasing an additional 30,235 shares during the last quarter. Engine Capital Management LP grew its position in National Vision by 127.5% during the 4th quarter. Engine Capital Management LP now owns 2,528,053 shares of the company’s stock worth $26,342,000 after purchasing an additional 1,417,002 shares during the last quarter. Emerald Advisers LLC grew its position in National Vision by 35.5% during the 1st quarter. Emerald Advisers LLC now owns 1,343,328 shares of the company’s stock worth $17,168,000 after purchasing an additional 352,228 shares during the last quarter. Finally, SG Capital Management LLC purchased a new position in National Vision during the 4th quarter worth $11,827,000.

National Vision Stock Up 3.3%

EYE stock opened at $24.83 on Friday. National Vision Holdings, Inc. has a one year low of $9.56 and a one year high of $25.67. The stock has a market capitalization of $1.97 billion, a PE ratio of -137.94, a price-to-earnings-growth ratio of 2.84 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.31 and a current ratio of 0.52. The company has a fifty day moving average of $24.00 and a 200-day moving average of $17.66.

National Vision (NASDAQ:EYE) last released its earnings results on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. National Vision had a negative net margin of 0.75% and a positive return on equity of 3.56%. The company had revenue of $486.42 million during the quarter, compared to analysts’ expectations of $469.21 million. During the same quarter last year, the business earned $0.15 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that National Vision Holdings, Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EYE shares. Citigroup raised shares of National Vision from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $21.00 in a research report on Friday, May 9th. BMO Capital Markets set a $19.00 price objective on shares of National Vision and gave the stock a “market perform” rating in a research report on Monday, May 19th. UBS Group reissued a “buy” rating and set a $30.00 price objective on shares of National Vision in a research report on Tuesday, July 8th. Loop Capital raised their price objective on shares of National Vision from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, Barclays lowered their price objective on shares of National Vision from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.73.

About National Vision

National Vision Holdings, Inc, through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America’s Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services.