Advantage Solutions (NASDAQ:ADV) Shares Gap Up - Here's Why

Shares of Advantage Solutions Inc. (NASDAQ:ADV - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $1.69, but opened at $1.80. Advantage Solutions shares last traded at $1.97, with a volume of 136,490 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased their price target on Advantage Solutions from $5.50 to $3.50 and set a "buy" rating on the stock in a report on Tuesday, March 11th.

Advantage Solutions Trading Down 7.1 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $507.83 million, a PE ratio of -3.85 and a beta of 1.66. The stock has a fifty day moving average of $2.47 and a 200 day moving average of $3.04.

Hedge Funds Weigh In On Advantage Solutions

Several institutional investors have recently bought and sold shares of ADV. Forum Financial Management LP bought a new position in shares of Advantage Solutions during the 4th quarter valued at about $34,000. Mosaic Family Wealth Partners LLC lifted its position in shares of Advantage Solutions by 10.8% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 360,000 shares of the company's stock worth $1,051,000 after buying an additional 35,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Advantage Solutions by 18.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 230,293 shares of the company's stock valued at $672,000 after buying an additional 35,352 shares during the last quarter. Sovereign s Capital Management LLC purchased a new position in Advantage Solutions during the 4th quarter valued at approximately $2,599,000. Finally, State of Wyoming purchased a new position in Advantage Solutions during the 4th quarter valued at approximately $99,000. 49.82% of the stock is owned by hedge funds and other institutional investors.

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About Advantage Solutions

Advantage Solutions Inc provides business solutions to consumer goods manufacturers 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; and brand-centric merchandising services.