Utz Brands, Inc. (NYSE:UTZ) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP lessened its position in shares of Utz Brands, Inc. (NYSE:UTZ - Free Report) by 46.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 289,000 shares of the company's stock after selling 249,766 shares during the period. Readystate Asset Management LP owned approximately 0.21% of Utz Brands worth $5,115,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of UTZ. Fifth Third Bancorp acquired a new position in shares of Utz Brands in the second quarter worth about $44,000. Canada Pension Plan Investment Board acquired a new position in shares of Utz Brands in the second quarter worth about $80,000. SG Americas Securities LLC acquired a new position in shares of Utz Brands in the second quarter worth about $103,000. nVerses Capital LLC acquired a new position in shares of Utz Brands in the third quarter worth about $142,000. Finally, XTX Topco Ltd acquired a new position in shares of Utz Brands in the second quarter worth about $185,000. Hedge funds and other institutional investors own 95.97% of the company's stock.

Utz Brands Stock Performance

Shares of Utz Brands stock traded down $0.40 on Thursday, reaching $16.83. 113,002 shares of the company were exchanged, compared to its average volume of 750,383. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The company's 50-day moving average is $17.10 and its two-hundred day moving average is $17.03. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -90.68, a P/E/G ratio of 1.18 and a beta of 1.01. Utz Brands, Inc. has a 1-year low of $13.29 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. The business had revenue of $365.50 million for the quarter, compared to analysts' expectations of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. As a group, research analysts expect that Utz Brands, Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on UTZ. Piper Sandler upped their price objective on Utz Brands from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Mizuho cut their price objective on Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Utz Brands presently has an average rating of "Moderate Buy" and an average target price of $21.22.

Insider Buying and Selling

In related news, EVP Cary Devore sold 30,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now directly owns 451,117 shares of the company's stock, valued at $7,813,346.44. This represents a 6.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the transaction, the insider now directly owns 496,038 shares of the company's stock, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company's stock.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.