Driehaus Capital Management LLC Acquires New Position in Vestis Co. (NYSE:VSTS)

Driehaus Capital Management LLC bought a new position in Vestis Co. (NYSE:VSTS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 320,405 shares of the company’s stock, valued at approximately $4,883,000. Driehaus Capital Management LLC owned approximately 0.24% of Vestis as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after acquiring an additional 710 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Vestis by 2.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company’s stock worth $691,000 after purchasing an additional 875 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Vestis by 11.1% during the 4th quarter. Bank of Montreal Can now owns 15,315 shares of the company’s stock valued at $233,000 after buying an additional 1,534 shares during the last quarter. Swiss National Bank grew its stake in shares of Vestis by 0.7% in the 4th quarter. Swiss National Bank now owns 232,750 shares of the company’s stock valued at $3,547,000 after buying an additional 1,700 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Vestis by 3.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock worth $681,000 after buying an additional 1,735 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insider Transactions at Vestis

In related news, Director Douglas A. Pertz bought 70,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $6.17 per share, with a total value of $431,900.00. Following the completion of the transaction, the director now owns 297,010 shares of the company’s stock, valued at $1,832,551.70. The trade was a 30.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.60% of the company’s stock.

Vestis Price Performance

NYSE VSTS opened at $6.29 on Friday. The company has a market cap of $828.68 million, a P/E ratio of 78.63 and a beta of 1.61. Vestis Co. has a 1 year low of $5.20 and a 1 year high of $17.83. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company has a fifty day simple moving average of $9.08 and a 200 day simple moving average of $12.88.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The business had revenue of $665.25 million during the quarter, compared to the consensus estimate of $690.81 million. The company’s revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VSTS shares. Barclays reduced their target price on shares of Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday. Robert W. Baird reduced their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.75.

About Vestis

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.