Inventure Foods Inc. (SNAK) Sees Strong Trading Volume
Shares of Inventure Foods Inc. (NASDAQ:SNAK) saw an uptick in trading volume on Thursday . 95,787 shares were traded during trading, a decline of 18% from the previous session’s volume of 116,770 shares.The stock last traded at $7.90 and had previously closed at $7.84.
Several brokerages recently commented on SNAK. Zacks Investment Research raised shares of Inventure Foods from a “sell” rating to a “hold” rating in a report on Tuesday. Wunderlich reissued a “buy” rating and issued a $10.00 price objective on shares of Inventure Foods in a report on Monday, May 23rd. Finally, Roth Capital cut their price objective on shares of Inventure Foods from $12.00 to $8.00 and set a “buy” rating for the company in a report on Monday, March 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $9.40.
The firm has a 50 day moving average price of $7.57 and a 200 day moving average price of $6.51. The stock’s market capitalization is $154.75 million.
Inventure Foods (NASDAQ:SNAK) last announced its earnings results on Thursday, April 28th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. During the same quarter in the prior year, the company earned $0.06 EPS. The firm earned $69.90 million during the quarter, compared to analysts’ expectations of $74.74 million. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, analysts forecast that Inventure Foods Inc. will post $0.10 earnings per share for the current year.
In related news, SVP Daniel W. Hammer sold 6,055 shares of the firm’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $7.16, for a total transaction of $43,353.80. Following the completion of the sale, the senior vice president now owns 18,945 shares in the company, valued at $135,646.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Private Discipline Master Lkcm acquired 4,245 shares of the firm’s stock in a transaction that occurred on Tuesday, April 12th. The shares were bought at an average price of $6.16 per share, with a total value of $26,149.20. The disclosure for this purchase can be found here.
Other hedge funds recently bought and sold shares of the company. Penn Capital Management Co. Inc. increased its stake in Inventure Foods by 39.6% in the fourth quarter. Penn Capital Management Co. Inc. now owns 446,919 shares of the company’s stock worth $3,173,000 after buying an additional 126,703 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in Inventure Foods during the fourth quarter worth about $7,242,000. Finally, American Century Companies Inc. increased its stake in Inventure Foods by 47.4% in the fourth quarter. American Century Companies Inc. now owns 1,047,044 shares of the company’s stock worth $7,434,000 after buying an additional 336,700 shares during the period.
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.