Walleye Capital LLC Lowers Position in The Simply Good Foods Company (NASDAQ:SMPL)

Walleye Capital LLC lessened its stake in The Simply Good Foods Company (NASDAQ:SMPL) by 68.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,304 shares of the financial services provider’s stock after selling 49,002 shares during the period. Walleye Capital LLC’s holdings in Simply Good Foods were worth $776,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in Simply Good Foods in the 3rd quarter worth approximately $27,391,000. Mutual of America Capital Management LLC boosted its position in Simply Good Foods by 21.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 187,549 shares of the financial services provider’s stock worth $6,521,000 after purchasing an additional 32,561 shares in the last quarter. SG Americas Securities LLC boosted its position in Simply Good Foods by 671.9% in the 2nd quarter. SG Americas Securities LLC now owns 30,697 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 26,720 shares in the last quarter. Quest Partners LLC boosted its position in Simply Good Foods by 65.0% in the 3rd quarter. Quest Partners LLC now owns 41,277 shares of the financial services provider’s stock worth $1,435,000 after purchasing an additional 16,268 shares in the last quarter. Finally, FMR LLC boosted its position in Simply Good Foods by 20.0% in the 3rd quarter. FMR LLC now owns 5,128,827 shares of the financial services provider’s stock worth $178,329,000 after purchasing an additional 855,070 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Insider Activity at Simply Good Foods

In other Simply Good Foods news, Director Joseph Scalzo sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total value of $899,750.00. Following the completion of the sale, the director now directly owns 139,204 shares of the company’s stock, valued at $5,009,951.96. This trade represents a 15.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy Richard Kraft sold 21,209 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.50, for a total value of $774,128.50. Following the completion of the sale, the insider now directly owns 40,068 shares of the company’s stock, valued at $1,462,482. This trade represents a 34.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,869 shares of company stock valued at $12,139,570. 10.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SMPL has been the topic of several recent research reports. Stephens lowered their price objective on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Citigroup reduced their target price on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.78.

Simply Good Foods Stock Up 0.4 %

NASDAQ SMPL opened at $39.17 on Friday. The business has a fifty day moving average price of $35.85 and a 200 day moving average price of $35.16. The Simply Good Foods Company has a one year low of $30.00 and a one year high of $43.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05. The company has a market cap of $3.93 billion, a P/E ratio of 28.38, a P/E/G ratio of 3.49 and a beta of 0.67.

Simply Good Foods (NASDAQ:SMPL) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm had revenue of $375.70 million during the quarter, compared to the consensus estimate of $373.07 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. Research analysts anticipate that The Simply Good Foods Company will post 1.76 EPS for the current fiscal year.

Simply Good Foods Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.