Fred Alger Management LLC Lowers Holdings in Savers Value Village, Inc. (NYSE:SVV)

Fred Alger Management LLC reduced its position in shares of Savers Value Village, Inc. (NYSE:SVV) by 18.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,975 shares of the company’s stock after selling 57,274 shares during the quarter. Fred Alger Management LLC owned 0.15% of Savers Value Village worth $2,531,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SVV. Baillie Gifford & Co. boosted its stake in shares of Savers Value Village by 570.0% during the 4th quarter. Baillie Gifford & Co. now owns 3,689,478 shares of the company’s stock worth $37,817,000 after acquiring an additional 3,138,844 shares during the last quarter. Primecap Management Co. CA grew its holdings in Savers Value Village by 662.1% during the fourth quarter. Primecap Management Co. CA now owns 471,750 shares of the company’s stock valued at $4,835,000 after purchasing an additional 409,850 shares during the period. Bank of New York Mellon Corp increased its position in Savers Value Village by 94.0% in the fourth quarter. Bank of New York Mellon Corp now owns 124,901 shares of the company’s stock worth $1,280,000 after buying an additional 60,507 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Savers Value Village by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 2,382,647 shares of the company’s stock worth $24,422,000 after buying an additional 68,316 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Savers Value Village by 389.9% during the 4th quarter. Renaissance Technologies LLC now owns 82,800 shares of the company’s stock valued at $849,000 after buying an additional 65,900 shares in the last quarter. 98.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider T. Charles Hunsinger purchased 6,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $7.25 per share, for a total transaction of $43,500.00. Following the acquisition, the insider now owns 14,100 shares of the company’s stock, valued at $102,225. The trade was a 74.07 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.38% of the company’s stock.

Savers Value Village Stock Down 3.6 %

Shares of NYSE:SVV opened at $11.02 on Friday. The business’s 50 day moving average is $8.30 and its 200 day moving average is $9.45. The stock has a market cap of $1.74 billion, a P/E ratio of 61.23 and a beta of 0.95. Savers Value Village, Inc. has a 52-week low of $6.48 and a 52-week high of $15.53. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.70.

Savers Value Village (NYSE:SVV) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The firm had revenue of $401.99 million for the quarter, compared to the consensus estimate of $402.00 million. Savers Value Village had a return on equity of 8.74% and a net margin of 1.89%. Sell-side analysts predict that Savers Value Village, Inc. will post 0.28 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on SVV. The Goldman Sachs Group lifted their price objective on shares of Savers Value Village from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Piper Sandler increased their target price on shares of Savers Value Village from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. UBS Group cut their price target on shares of Savers Value Village from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, February 21st. William Blair started coverage on Savers Value Village in a research note on Friday, April 4th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price target on Savers Value Village from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

Savers Value Village Profile

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.