Bank of New York Mellon Corp Trims Stock Holdings in Advantage Solutions Inc. (NASDAQ:ADV)

Bank of New York Mellon Corp lowered its stake in shares of Advantage Solutions Inc. (NASDAQ:ADV) by 40.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 273,540 shares of the company’s stock after selling 186,890 shares during the period. Bank of New York Mellon Corp’s holdings in Advantage Solutions were worth $799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc acquired a new stake in shares of Advantage Solutions during the 4th quarter worth about $30,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Advantage Solutions during the third quarter valued at approximately $54,000. a16z Perennial Management L.P. acquired a new stake in Advantage Solutions during the fourth quarter worth approximately $55,000. Paloma Partners Management Co purchased a new stake in Advantage Solutions in the 3rd quarter worth approximately $77,000. Finally, Intech Investment Management LLC acquired a new position in Advantage Solutions in the 3rd quarter valued at $99,000. Hedge funds and other institutional investors own 49.82% of the company’s stock.

Advantage Solutions Stock Down 5.5 %

Shares of NASDAQ:ADV opened at $1.56 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.81. The firm has a market cap of $501.40 million, a price-to-earnings ratio of -3.80 and a beta of 1.66. The stock’s 50-day moving average price is $2.37 and its two-hundred day moving average price is $2.95. Advantage Solutions Inc. has a 12-month low of $1.51 and a 12-month high of $4.95.

Analyst Ratings Changes

Separately, Canaccord Genuity Group decreased their price objective on Advantage Solutions from $5.50 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 11th.

Advantage Solutions Company Profile

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.