Panagora Asset Management Inc. bought a new position in shares of Advantage Solutions Inc. (NASDAQ:ADV – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 129,094 shares of the company’s stock, valued at approximately $1,035,000.
Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Advantage Solutions in the fourth quarter worth about $2,432,000. Balyasny Asset Management LLC boosted its position in Advantage Solutions by 100.0% during the third quarter. Balyasny Asset Management LLC now owns 70,000 shares of the company’s stock valued at $606,000 after purchasing an additional 35,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Advantage Solutions by 123.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,839 shares of the company’s stock valued at $95,000 after buying an additional 6,534 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Advantage Solutions in the third quarter worth about $414,000. Finally, Rubric Capital Management LP boosted its stake in shares of Advantage Solutions by 8.9% in the third quarter. Rubric Capital Management LP now owns 1,839,574 shares of the company’s stock worth $15,912,000 after buying an additional 151,012 shares during the last quarter. 26.45% of the stock is owned by institutional investors.
In related news, insider Jill L. Griffin sold 7,593 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $5.71, for a total transaction of $43,356.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dean Kaye sold 7,067 shares of Advantage Solutions stock in a transaction on Monday, March 7th. The stock was sold at an average price of $5.49, for a total value of $38,797.83. The disclosure for this sale can be found here. Insiders sold 112,954 shares of company stock valued at $623,394 in the last ninety days. 4.90% of the stock is currently owned by insiders.
Advantage Solutions (NASDAQ:ADV – Get Rating) last announced its quarterly earnings results on Tuesday, March 1st. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Advantage Solutions had a net margin of 1.97% and a return on equity of 6.26%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. On average, equities analysts predict that Advantage Solutions Inc. will post 0.71 earnings per share for the current year.
A number of brokerages recently commented on ADV. Morgan Stanley lowered their target price on Advantage Solutions from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advantage Solutions in a research note on Tuesday, March 29th. They issued a “hold” rating and a $7.00 price objective on the stock. The Goldman Sachs Group cut Advantage Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $12.00 to $7.00 in a research report on Friday, March 4th. Finally, Zacks Investment Research downgraded Advantage Solutions from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.20.
About Advantage Solutions (Get Rating)
Advantage Solutions Inc provides outsourced solutions to consumer goods companies and retailers in North America and internationally. It operates in two segments, Sales and Marketing. The Sales segment offers brand-centric services, such as headquarter relationship management; analytics, insights, and intelligence; administration; and brand-centric merchandising services.
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