Weiss Asset Management LP Purchases New Shares in The Simply Good Foods Company $SMPL

Weiss Asset Management LP purchased a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,052 shares of the financial services provider’s stock, valued at approximately $948,000. Weiss Asset Management LP owned about 0.07% of Simply Good Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Simply Good Foods by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 88,477 shares of the financial services provider’s stock valued at $2,795,000 after buying an additional 383 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Simply Good Foods by 125.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock worth $31,000 after buying an additional 538 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Simply Good Foods by 3.4% in the first quarter. AQR Capital Management LLC now owns 19,018 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 617 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Simply Good Foods by 4.1% in the fourth quarter. Cerity Partners LLC now owns 18,000 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 701 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Simply Good Foods by 3.4% during the second quarter. Gamco Investors INC. ET AL now owns 23,120 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 750 shares during the last quarter. 88.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley cut their price objective on Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, April 10th. TD Cowen reaffirmed a “hold” rating on shares of Simply Good Foods in a research report on Friday, July 10th. Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. BTIG Research started coverage on shares of Simply Good Foods in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.20.

Simply Good Foods Price Performance

NASDAQ SMPL opened at $10.66 on Tuesday. The company has a market cap of $942.98 million, a PE ratio of -4.91 and a beta of 0.13. The Simply Good Foods Company has a 52 week low of $10.12 and a 52 week high of $33.19. The company has a quick ratio of 3.10, a current ratio of 4.80 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $12.12 and its two-hundred day simple moving average is $14.36.

Simply Good Foods (NASDAQ:SMPL) last posted its earnings results on Thursday, July 9th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The firm had revenue of $356.98 million during the quarter, compared to the consensus estimate of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Research analysts predict that The Simply Good Foods Company will post 1.54 earnings per share for the current year.

Insider Activity at Simply Good Foods

In related news, Director Clayton C. Daley, Jr. purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $11.78 per share, with a total value of $117,800.00. Following the completion of the acquisition, the director directly owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. The trade was a 9.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.76% of the stock is owned by insiders.

About Simply Good Foods

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.