Weiss Asset Management LP Invests $948,000 in The Simply Good Foods Company $SMPL

Weiss Asset Management LP purchased a new position in The Simply Good Foods Company (NASDAQ:SMPL) during the first quarter, HoldingsChannel.com reports. The fund purchased 66,052 shares of the financial services provider’s stock, valued at approximately $948,000.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 538 shares during the period. Leonteq Securities AG increased its holdings in shares of Simply Good Foods by 96.2% in the first quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,132 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Simply Good Foods in the third quarter worth $36,000. Hantz Financial Services Inc. raised its position in shares of Simply Good Foods by 82.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after buying an additional 807 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Simply Good Foods by 167.4% in the fourth quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,331 shares in the last quarter. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SMPL shares. Stephens reissued an “equal weight” rating and set a $14.00 price objective (down from $24.00) on shares of Simply Good Foods in a research note on Friday, April 10th. Mizuho set a $19.00 price target on Simply Good Foods in a report on Monday, May 4th. Stifel Nicolaus dropped their price target on Simply Good Foods from $32.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 10th. TD Cowen reissued a “hold” rating on shares of Simply Good Foods in a report on Friday, July 10th. Finally, DA Davidson cut their price objective on Simply Good Foods from $39.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Simply Good Foods currently has an average rating of “Hold” and an average target price of $15.20.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $10.66 on Tuesday. The Simply Good Foods Company has a 52-week low of $10.12 and a 52-week high of $33.19. The company has a fifty day moving average of $12.12 and a 200-day moving average of $14.36. The company has a market capitalization of $942.98 million, a P/E ratio of -4.91 and a beta of 0.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.10 and a current ratio of 4.80.

Simply Good Foods (NASDAQ:SMPL) last released its earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. Simply Good Foods had a positive return on equity of 9.34% and a negative net margin of 14.28%.The business had revenue of $356.98 million for the quarter, compared to analysts’ expectations of $332.99 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts predict that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Insider Activity at Simply Good Foods

In other news, Director Clayton C. Daley, Jr. acquired 10,000 shares of Simply Good Foods stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the transaction, the director owned 111,743 shares of the company’s stock, valued at $1,316,332.54. This trade represents a 9.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.76% of the company’s stock.

Simply Good Foods Company Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.