NJ State Employees Deferred Compensation Plan Invests $216,000 in Inventure Foods, Inc. (SNAK)
NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Inventure Foods, Inc. (NASDAQ:SNAK) during the second quarter, Holdings Channel reports. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $216,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KCG Holdings Inc. increased its position in shares of Inventure Foods by 116.3% in the first quarter. KCG Holdings Inc. now owns 26,093 shares of the company’s stock valued at $115,000 after buying an additional 14,032 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Inventure Foods during the first quarter valued at approximately $133,000. Symons Capital Management Inc. purchased a new position in shares of Inventure Foods during the first quarter valued at approximately $168,000. OppenheimerFunds Inc. purchased a new position in shares of Inventure Foods during the first quarter valued at approximately $228,000. Finally, Cutter & CO Brokerage Inc. increased its position in shares of Inventure Foods by 8.1% in the first quarter. Cutter & CO Brokerage Inc. now owns 79,800 shares of the company’s stock valued at $353,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 81.75% of the company’s stock.
Inventure Foods, Inc. (NASDAQ:SNAK) opened at 3.17 on Friday. The firm’s market capitalization is $62.41 million. The stock’s 50 day moving average is $3.80 and its 200 day moving average is $4.49. Inventure Foods, Inc. has a one year low of $2.96 and a one year high of $10.15.
Inventure Foods (NASDAQ:SNAK) last posted its quarterly earnings data on Thursday, May 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.05. Inventure Foods had a negative return on equity of 32.41% and a negative net margin of 19.06%. The company had revenue of $49.60 million for the quarter, compared to the consensus estimate of $70.10 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The business’s revenue was down 13.3% on a year-over-year basis. On average, equities research analysts predict that Inventure Foods, Inc. will post ($0.14) earnings per share for the current fiscal year.
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Several brokerages have commented on SNAK. ValuEngine downgraded shares of Inventure Foods from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Inventure Foods from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.
Inventure Foods Company Profile
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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