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

Wealth Enhancement Advisory Services LLC cut its stake in shares of Vestis Corporation (NYSE:VSTS) by 34.9% in the 1st quarter, HoldingsChannel reports. The firm 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 have also bought and sold shares of the stock. Gamco Investors INC. ET AL boosted its holdings in shares of Vestis by 2.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company’s stock valued at $691,000 after buying an additional 875 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Vestis by 11.1% during the 4th quarter. Bank of Montreal Can now owns 15,315 shares of the company’s stock valued at $233,000 after buying an additional 1,534 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Vestis by 0.7% during the 4th quarter. Swiss National Bank now owns 232,750 shares of the company’s stock valued at $3,547,000 after buying an additional 1,700 shares in the last quarter. True Wealth Design LLC bought a new stake in shares of Vestis during the 4th quarter valued at $29,000. Finally, Smartleaf Asset Management LLC boosted 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 worth $38,000 after purchasing an additional 2,123 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Keith A. Meister bought 314,390 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was bought at an average cost of $6.03 per share, for a total transaction of $1,895,771.70. Following the acquisition, the director directly owned 18,803,899 shares in the company, valued at $113,387,510.97. This represents a 1.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO William J. Seward purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the purchase, the chief operating officer owned 130,862 shares in the company, valued at approximately $815,270.26. The trade was a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 880,675 shares of company stock worth $5,271,632. 13.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VSTS has been the topic of several research analyst reports. Barclays lowered their target price on shares of Vestis from $10.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. Robert W. Baird lowered their target price on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, Vestis has a consensus rating of “Hold” and an average price target of $11.75.

Vestis Trading Up 0.2%

Vestis stock opened at $6.15 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.87 and a debt-to-equity ratio of 1.46. Vestis Corporation has a 52 week low of $5.20 and a 52 week high of $17.83. The company has a market capitalization of $810.45 million, a price-to-earnings ratio of -34.17 and a beta of 0.96. The stock has a 50-day moving average price of $6.45 and a 200 day moving average price of $10.41.

Vestis (NYSE:VSTS) last announced its quarterly earnings results 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 company had revenue of $665.25 million during the quarter, compared to analyst estimates of $690.81 million. Vestis had a negative net margin of 0.89% and a positive return on equity of 5.36%. Vestis’s revenue was down 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Vestis Corporation 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.