Verition Fund Management LLC Invests $121,000 in Westrock Coffee (NASDAQ:WEST)

Verition Fund Management LLC purchased a new stake in shares of Westrock Coffee (NASDAQ:WEST) during the third quarter, Holdings Channel reports. The institutional investor purchased 18,600 shares of the company’s stock, valued at approximately $121,000.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in Westrock Coffee during the 2nd quarter valued at about $19,199,000. Principal Street Partners LLC boosted its holdings in shares of Westrock Coffee by 100.0% during the third quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock worth $2,546,000 after purchasing an additional 195,800 shares during the period. Intech Investment Management LLC purchased a new position in Westrock Coffee during the third quarter valued at approximately $71,000. The Manufacturers Life Insurance Company grew its position in Westrock Coffee by 15.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,050 shares of the company’s stock valued at $154,000 after purchasing an additional 2,070 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Westrock Coffee by 76.0% in the 2nd quarter. American Century Companies Inc. now owns 46,615 shares of the company’s stock valued at $477,000 after buying an additional 20,129 shares during the period. 45.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kenneth M. Parent acquired 62,735 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average cost of $8.07 per share, with a total value of $506,271.45. Following the purchase, the director now owns 112,451 shares of the company’s stock, valued at approximately $907,479.57. The trade was a 126.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 42.10% of the stock is currently owned by corporate insiders.

Westrock Coffee Stock Performance

WEST stock opened at $7.09 on Tuesday. The firm has a 50 day moving average of $7.01 and a two-hundred day moving average of $8.30. Westrock Coffee has a 12 month low of $5.28 and a 12 month high of $11.21. The company has a market capitalization of $667.79 million, a price-to-earnings ratio of -8.24 and a beta of 0.49. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WEST shares. Craig Hallum began coverage on shares of Westrock Coffee in a report on Monday, September 23rd. They set a “buy” rating and a $13.00 price target on the stock. Telsey Advisory Group reduced their price objective on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, Truist Financial began coverage on Westrock Coffee in a research report on Monday, October 7th. They issued a “buy” rating and a $10.00 target price on the stock.

Westrock Coffee Company Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.