Truist Financial Corp Lowers Stock Position in Savers Value Village, Inc. (NYSE:SVV)

Truist Financial Corp cut its position in shares of Savers Value Village, Inc. (NYSE:SVV) by 7.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,310 shares of the company’s stock after selling 1,237 shares during the quarter. Truist Financial Corp’s holdings in Savers Value Village were worth $187,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SVV. nVerses Capital LLC purchased a new position in Savers Value Village during the second quarter valued at $62,000. Mount Yale Investment Advisors LLC purchased a new position in Savers Value Village during the first quarter valued at $193,000. Oppenheimer Asset Management Inc. purchased a new position in Savers Value Village during the first quarter valued at $267,000. Victory Capital Management Inc. purchased a new position in Savers Value Village during the second quarter valued at $255,000. Finally, GSA Capital Partners LLP purchased a new position in Savers Value Village during the first quarter valued at $456,000. 98.78% of the stock is owned by hedge funds and other institutional investors.

Savers Value Village Stock Performance

Shares of Savers Value Village stock opened at $10.15 on Friday. The firm’s fifty day simple moving average is $9.77 and its 200-day simple moving average is $12.20. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 24.76 and a beta of 1.67. Savers Value Village, Inc. has a 12 month low of $7.78 and a 12 month high of $21.33. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 0.87.

Savers Value Village (NYSE:SVV) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). The firm had revenue of $396.70 million during the quarter, compared to analyst estimates of $391.13 million. Savers Value Village had a net margin of 2.47% and a return on equity of 2.88%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that Savers Value Village, Inc. will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on SVV shares. Robert W. Baird decreased their price objective on shares of Savers Value Village from $21.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Loop Capital reduced their target price on shares of Savers Value Village from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. cut shares of Savers Value Village from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $12.00 in a research report on Monday, July 22nd. Piper Sandler reduced their target price on shares of Savers Value Village from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, The Goldman Sachs Group cut shares of Savers Value Village from a “buy” rating to a “neutral” rating and reduced their target price for the company from $14.00 to $10.00 in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Savers Value Village presently has an average rating of “Moderate Buy” and a consensus price target of $12.20.

About Savers Value Village

Savers Value Village, Inc sells second-hand merchandise in retail stores in the United States, Canada, and Australia. It operates stores under the Savers, Value Village, Value Village Boutique, Village des Valeurs, Unique, and 2nd Avenue brands. The company purchases secondhand textiles, including clothing, bedding, and bath items; shoes; accessories; housewares; books; and other goods from non-profit partners and then processes, selects, prices, merchandises, and sells them in its stores.