CastleKnight Management LP Grows Stake in Advantage Solutions Inc. $ADV

CastleKnight Management LP lifted its stake in shares of Advantage Solutions Inc. (NASDAQ:ADV) by 18.1% in the fourth quarter, Holdings Channel reports. The firm owned 11,794,950 shares of the company’s stock after buying an additional 1,806,891 shares during the period. CastleKnight Management LP’s holdings in Advantage Solutions were worth $10,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Graham Capital Management L.P. increased its stake in shares of Advantage Solutions by 285.1% during the fourth quarter. Graham Capital Management L.P. now owns 88,862 shares of the company’s stock worth $78,000 after purchasing an additional 65,785 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Advantage Solutions by 760.9% during the fourth quarter. Squarepoint Ops LLC now owns 175,542 shares of the company’s stock worth $154,000 after purchasing an additional 155,151 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Advantage Solutions by 37.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,761,016 shares of the company’s stock worth $3,310,000 after purchasing an additional 1,024,633 shares in the last quarter. State Street Corp boosted its position in Advantage Solutions by 4.2% during the fourth quarter. State Street Corp now owns 2,180,442 shares of the company’s stock worth $1,919,000 after acquiring an additional 88,129 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Advantage Solutions by 25.3% during the 4th quarter. Wells Fargo & Company MN now owns 164,316 shares of the company’s stock valued at $145,000 after acquiring an additional 33,183 shares in the last quarter. Hedge funds and other institutional investors own 49.82% of the company’s stock.

Advantage Solutions Stock Performance

Shares of ADV stock opened at $37.72 on Thursday. The firm’s 50 day moving average price is $35.37 and its 200-day moving average price is $25.51. The company has a debt-to-equity ratio of 3.18, a quick ratio of 1.95 and a current ratio of 1.95. Advantage Solutions Inc. has a one year low of $12.23 and a one year high of $53.63. The firm has a market cap of $501.68 million, a P/E ratio of -2.01 and a beta of 2.21.

Insider Activity at Advantage Solutions

In related news, CEO David A. Peacock acquired 800 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $34.60 per share, for a total transaction of $27,680.00. Following the acquisition, the chief executive officer owned 216,364 shares in the company, valued at $7,486,194.40. The trade was a 0.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of Advantage Solutions from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 7th. Morgan Stanley set a $18.75 price objective on shares of Advantage Solutions in a research note on Tuesday, March 3rd. Canaccord Genuity Group upped their price objective on shares of Advantage Solutions from $37.50 to $50.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Advantage Solutions from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of Advantage Solutions from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.38.

Advantage Solutions Company Profile

Advantage Solutions is a leading sales and marketing agency that provides outsourced solutions to consumer packaged goods companies. The firm’s offerings include field sales execution, retail merchandising, in-store and shopper marketing, e-commerce activation and data-driven analytics. By deploying dedicated sales teams alongside proprietary technology, Advantage Solutions helps brands optimize shelf placement, ensure compliance with promotional programs and strengthen consumer engagement.

The company’s service portfolio spans field sales and marketing, retail execution, brand ambassador programs, digital and experiential promotions, and shopper insights.