29,720 Shares in Vestis Co. (NYSE:VSTS) Bought by Graham Capital Management L.P.

Graham Capital Management L.P. acquired a new stake in Vestis Co. (NYSE:VSTS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,720 shares of the company’s stock, valued at approximately $453,000.

Several other hedge funds have also added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in shares of Vestis during the fourth quarter worth approximately $210,766,000. Alyeska Investment Group L.P. acquired a new position in shares of Vestis in the 4th quarter valued at approximately $25,805,000. First Trust Advisors LP bought a new stake in Vestis during the fourth quarter worth $22,936,000. Birnam Oak Advisors LP acquired a new stake in Vestis in the fourth quarter valued at about $21,446,000. Finally, AQR Capital Management LLC boosted its stake in shares of Vestis by 47.4% in the 4th quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company’s stock valued at $47,635,000 after purchasing an additional 1,004,497 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Ratings Changes

VSTS has been the topic of a number of research reports. The Goldman Sachs Group reduced their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Barclays lowered their price objective on Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday, May 9th. Finally, Robert W. Baird reduced their price target 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. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.75.

Insider Buying and Selling

In related news, Director Douglas A. Pertz bought 70,000 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the purchase, the director now directly owns 297,010 shares in the company, valued at $1,832,551.70. This trade represents a 30.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William J. Seward bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $6.23 per share, for a total transaction 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 trade represents a 8.27% increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is owned by insiders.

Vestis Stock Performance

Shares of VSTS opened at $6.21 on Friday. Vestis Co. has a 52 week low of $5.20 and a 52 week high of $17.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock has a 50 day moving average price of $8.69 and a two-hundred day moving average price of $12.66. The firm has a market capitalization of $818.37 million, a P/E ratio of 77.63 and a beta of 1.61.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). The firm had revenue of $665.25 million during the quarter, compared to the consensus estimate of $690.81 million. Vestis had a return on equity of 7.91% and a net margin of 0.34%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities analysts forecast that Vestis Co. 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.