MYDA Advisors LLC Takes $676,000 Position in Sweetgreen, Inc. $SG

MYDA Advisors LLC bought a new stake in Sweetgreen, Inc. (NYSE:SG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $676,000. MYDA Advisors LLC owned approximately 0.08% of Sweetgreen as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SG. Marshall Wace LLP grew its holdings in shares of Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after acquiring an additional 3,667,306 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Sweetgreen by 366.8% in the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock valued at $17,900,000 after acquiring an additional 2,080,628 shares in the last quarter. Greenhouse Funds LLLP grew its holdings in shares of Sweetgreen by 82.8% in the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after acquiring an additional 1,788,175 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Sweetgreen by 240.9% during the third quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock valued at $13,509,000 after purchasing an additional 1,196,222 shares during the period. Finally, Ibex Investors LLC grew its holdings in Sweetgreen by 5,058.8% during the fourth quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock valued at $5,580,000 after purchasing an additional 809,400 shares during the period. 95.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SG shares. Wolfe Research started coverage on Sweetgreen in a report on Monday, March 9th. They set a “peer perform” rating for the company. Oppenheimer increased their price objective on Sweetgreen from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Citizens Jmp started coverage on Sweetgreen in a report on Monday, March 30th. They set a “mkt underperform” rating and a $4.50 price objective for the company. Piper Sandler lowered their price objective on Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Finally, UBS Group increased their price objective on Sweetgreen from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.04.

Sweetgreen Stock Performance

Shares of SG stock opened at $9.04 on Monday. Sweetgreen, Inc. has a 52-week low of $4.49 and a 52-week high of $16.70. The company has a market capitalization of $1.07 billion, a PE ratio of 75.35 and a beta of 2.15. The business’s fifty day moving average is $7.46 and its 200 day moving average is $6.71.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) EPS. On average, sell-side analysts forecast that Sweetgreen, Inc. will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of Sweetgreen stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the purchase, the insider directly owned 11,900,255 shares in the company, valued at $67,712,450.95. The trade was a 5.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 18.19% of the stock is currently owned by corporate insiders.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.