Advantage Solutions (NASDAQ:ADV) Given New $3.50 Price Target at Canaccord Genuity Group

Advantage Solutions (NASDAQ:ADV) had its price objective reduced by Canaccord Genuity Group from $5.50 to $3.50 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 92.31% from the company’s previous close.

Advantage Solutions Trading Down 15.3 %

Shares of ADV opened at $1.82 on Tuesday. The stock has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $3.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $583.77 million, a price-to-earnings ratio of -4.44 and a beta of 1.66. Advantage Solutions has a 52-week low of $1.82 and a 52-week high of $4.95.

Institutional Investors Weigh In On Advantage Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning bought a new stake in shares of Advantage Solutions during the third quarter valued at approximately $82,000. Principal Financial Group Inc. lifted its holdings in Advantage Solutions by 14.8% during the 3rd quarter. Principal Financial Group Inc. now owns 55,207 shares of the company’s stock worth $189,000 after buying an additional 7,114 shares in the last quarter. Empowered Funds LLC boosted its position in Advantage Solutions by 13.9% in the 3rd quarter. Empowered Funds LLC now owns 1,617,758 shares of the company’s stock valued at $5,549,000 after buying an additional 197,534 shares during the last quarter. Intech Investment Management LLC bought a new position in Advantage Solutions in the 3rd quarter valued at $99,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Advantage Solutions by 23.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,941 shares of the company’s stock valued at $669,000 after buying an additional 36,547 shares during the period. Institutional investors and hedge funds own 49.82% of the company’s stock.

About Advantage Solutions

Advantage Solutions Inc provides business solutions to consumer goods manufacturers and retailers in North America and internationally. It operates in two segments, Sales and Marketing. The Sales segment offers brand-centric services, such as headquarter relationship management; analytics, insights, and intelligence; and brand-centric merchandising services.