Inventure Foods Inc. (SNAK) Sees Strong Trading Volume
Inventure Foods Inc. (NASDAQ:SNAK) saw unusually-high trading volume on Thursday . Approximately 95,787 shares were traded during mid-day 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.
SNAK has been the subject of a number of research analyst reports. Wunderlich reiterated a “buy” rating and issued a $10.00 price target on shares of Inventure Foods in a research note on Monday, May 23rd. Roth Capital reduced their price objective on Inventure Foods from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 21st. Finally, Zacks Investment Research upgraded Inventure Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, May 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Inventure Foods presently has a consensus rating of “Buy” and an average target price of $9.40.
The company has a 50 day moving average of $7.61 and a 200-day moving average of $6.51. The company’s market cap is $154.35 million.
Inventure Foods (NASDAQ:SNAK) last released its earnings results on Thursday, April 28th. The company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. During the same period in the previous year, the firm earned $0.06 earnings per share. The company had revenue of $69.90 million for the quarter, compared to analyst estimates of $74.74 million. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, equities research analysts predict that Inventure Foods Inc. will post $0.10 EPS for the current year.
In related news, major shareholder Private Discipline Master Lkcm bought 4,245 shares of the stock in a transaction that occurred on Tuesday, April 12th. The stock was purchased at an average cost of $6.16 per share, with a total value of $26,149.20. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul J. Lapadat bought 7,000 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were bought at an average cost of $7.25 per share, with a total value of $50,750.00. Following the completion of the purchase, the director now directly owns 20,119 shares in the company, valued at $145,862.75. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in Inventure Foods stock. State of New Jersey Common Pension Fund D bought a new stake in Inventure Foods Inc. (NASDAQ:SNAK) during the fourth quarter, Holdings Channel reports. The fund bought 1,020,000 shares of the company’s stock, valued at approximately $7,242,000. State of New Jersey Common Pension Fund D owned about 5.20% of Inventure Foods at the end of the most recent reporting 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.
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