Kestrel Investment Management Corp Makes New Investment in The Simply Good Foods Company $SMPL

Kestrel Investment Management Corp acquired a new position in shares of The Simply Good Foods Company (NASDAQ:SMPL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 135,575 shares of the financial services provider’s stock, valued at approximately $2,722,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd grew its position in Simply Good Foods by 740.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 162,845 shares of the financial services provider’s stock worth $4,042,000 after purchasing an additional 143,458 shares in the last quarter. Savoir Faire Capital Management L.P. grew its position in Simply Good Foods by 96.8% during the 3rd quarter. Savoir Faire Capital Management L.P. now owns 145,956 shares of the financial services provider’s stock worth $3,623,000 after purchasing an additional 71,773 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Simply Good Foods by 468.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 208,385 shares of the financial services provider’s stock worth $5,172,000 after purchasing an additional 171,745 shares in the last quarter. Clark Estates Inc. NY purchased a new position in Simply Good Foods during the 3rd quarter worth approximately $1,986,000. Finally, Magnetar Financial LLC grew its position in Simply Good Foods by 134.0% during the 3rd quarter. Magnetar Financial LLC now owns 141,076 shares of the financial services provider’s stock worth $3,502,000 after purchasing an additional 80,795 shares in the last quarter. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SMPL. DA Davidson reiterated a “neutral” rating and set a $39.00 price objective on shares of Simply Good Foods in a research report on Friday, April 10th. Morgan Stanley decreased their target price on shares of Simply Good Foods from $24.00 to $14.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Jefferies Financial Group raised shares of Simply Good Foods from a “hold” rating to a “buy” rating and decreased their target price for the company from $23.00 to $22.00 in a research note on Monday, March 16th. Stephens reissued an “equal weight” rating and set a $14.00 target price (down from $24.00) on shares of Simply Good Foods in a research note on Friday, April 10th. Finally, Stifel Nicolaus decreased their target price on shares of Simply Good Foods from $32.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.64.

Simply Good Foods Stock Down 1.4%

SMPL stock opened at $12.26 on Friday. The company has a current ratio of 5.06, a quick ratio of 2.87 and a debt-to-equity ratio of 0.27. The Simply Good Foods Company has a 1 year low of $10.21 and a 1 year high of $36.92. The company has a fifty day simple moving average of $14.01 and a 200 day simple moving average of $17.50. The firm has a market cap of $1.11 billion, a PE ratio of -10.30 and a beta of 0.21.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings data on Thursday, April 9th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.05. Simply Good Foods had a negative net margin of 7.46% and a positive return on equity of 9.72%. The business had revenue of $326.01 million during the quarter, compared to analyst estimates of $345.08 million. During the same quarter in the previous year, the business earned $0.46 EPS. Simply Good Foods’s quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts anticipate that The Simply Good Foods Company will post 1.54 EPS for the current fiscal year.

Insider Activity

In other news, Director James M. Kilts bought 80,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was purchased at an average price of $12.39 per share, with a total value of $991,200.00. Following the transaction, the director directly owned 172,854 shares in the company, valued at approximately $2,141,661.06. The trade was a 86.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.76% of the company’s stock.

Simply Good Foods Company Profile

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.