GAM Holding AG Sells 80,000 Shares of Vestis Corporation $VSTS

GAM Holding AG lowered its holdings in Vestis Corporation (NYSE:VSTS) by 36.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,000 shares of the company’s stock after selling 80,000 shares during the quarter. GAM Holding AG’s holdings in Vestis were worth $634,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Captrust Financial Advisors boosted its position in shares of Vestis by 15.6% in the second quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock valued at $118,000 after acquiring an additional 2,787 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after purchasing an additional 4,502 shares during the period. State of Alaska Department of Revenue grew its position in Vestis by 7.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 68,195 shares of the company’s stock worth $389,000 after purchasing an additional 4,686 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Vestis by 703.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares during the period. Finally, Bfsg LLC raised its position in shares of Vestis by 44.3% during the second quarter. Bfsg LLC now owns 20,510 shares of the company’s stock valued at $118,000 after buying an additional 6,300 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 3rd. The Goldman Sachs Group boosted their price objective on Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Robert W. Baird raised their target price on Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average target price of $5.95.

Vestis Trading Down 1.0%

VSTS stock opened at $6.60 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.64 and a debt-to-equity ratio of 1.49. The firm has a market cap of $870.34 million, a P/E ratio of -21.29 and a beta of 0.73. Vestis Corporation has a 1-year low of $3.98 and a 1-year high of $16.68. The business’s 50 day moving average is $6.22 and its 200-day moving average is $5.54.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Monday, December 1st. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The business had revenue of $712.01 million for the quarter, compared to analyst estimates of $690.65 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Vestis’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts anticipate that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William Goetz bought 6,746 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average price of $7.42 per share, for a total transaction of $50,055.32. Following the transaction, the director directly owned 29,877 shares of the company’s stock, valued at $221,687.34. This trade represents a 29.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith A. Meister purchased 209,842 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were purchased at an average cost of $6.79 per share, with a total value of $1,424,827.18. Following the completion of the acquisition, the director directly owned 19,813,963 shares in the company, valued at $134,536,808.77. The trade was a 1.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 1,205,810 shares of company stock worth $8,138,302 in the last quarter. 13.60% of the stock is owned by company insiders.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.