Quantbot Technologies LP Purchases 88,576 Shares of The Simply Good Foods Company (NASDAQ:SMPL)

Quantbot Technologies LP lifted its position in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 2,015.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,971 shares of the financial services provider’s stock after purchasing an additional 88,576 shares during the period. Quantbot Technologies LP owned 0.09% of Simply Good Foods worth $3,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in Simply Good Foods in the 2nd quarter valued at $30,000. GAMMA Investing LLC grew its position in Simply Good Foods by 182.4% during the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock valued at $31,000 after buying an additional 549 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Simply Good Foods by 236.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,241 shares during the last quarter. Innealta Capital LLC bought a new stake in Simply Good Foods in the second quarter worth about $71,000. Finally, KBC Group NV lifted its stake in Simply Good Foods by 31.9% in the third quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 746 shares during the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SMPL shares. Citigroup decreased their target price on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Stephens lowered their target price on shares of Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Simply Good Foods currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.78.

Simply Good Foods Stock Down 0.2 %

SMPL opened at $39.92 on Thursday. The company has a market cap of $4.00 billion, a P/E ratio of 28.93, a P/E/G ratio of 3.52 and a beta of 0.64. The Simply Good Foods Company has a 12 month low of $30.00 and a 12 month high of $43.00. The business’s 50-day moving average price is $34.99 and its 200-day moving average price is $35.03. The company has a current ratio of 4.05, a quick ratio of 2.75 and a debt-to-equity ratio of 0.23.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm had revenue of $375.70 million during the quarter, compared to the consensus estimate of $373.07 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts expect that The Simply Good Foods Company will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other Simply Good Foods news, insider Timothy Richard Kraft sold 76,761 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $37.60, for a total transaction of $2,886,213.60. Following the completion of the transaction, the insider now owns 40,068 shares of the company’s stock, valued at approximately $1,506,556.80. This trade represents a 65.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian K. Ratzan sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $37.38, for a total transaction of $1,869,000.00. Following the completion of the sale, the director now directly owns 2,049,387 shares in the company, valued at $76,606,086.06. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,869 shares of company stock valued at $12,139,570 in the last quarter. Insiders own 10.98% of the company’s stock.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.