Weiss Asset Management LP Acquires New Position in The Simply Good Foods Company (NASDAQ:SMPL)

Weiss Asset Management LP purchased a new stake in The Simply Good Foods Company (NASDAQ:SMPL - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 346,597 shares of the financial services provider's stock, valued at approximately $12,051,000. Weiss Asset Management LP owned approximately 0.35% of Simply Good Foods as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in Simply Good Foods in the 2nd quarter valued at $30,000. GAMMA Investing LLC grew its position in Simply Good Foods by 182.4% during the 2nd quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider's stock worth $31,000 after acquiring an additional 549 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Simply Good Foods by 236.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider's stock valued at $60,000 after buying an additional 1,241 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Simply Good Foods in the 2nd quarter valued at about $71,000. Finally, KBC Group NV grew its position in shares of Simply Good Foods by 31.9% in the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider's stock valued at $107,000 after buying an additional 746 shares during the last quarter. 88.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup cut their target price on Simply Good Foods from $46.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Stephens dropped their price target on Simply Good Foods from $44.00 to $42.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.78.

Simply Good Foods Stock Up 0.6 %

Shares of SMPL traded up $0.22 during mid-day trading on Friday, reaching $39.24. The company had a trading volume of 297,696 shares, compared to its average volume of 886,689. The Simply Good Foods Company has a 52 week low of $30.00 and a 52 week high of $43.00. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.51 and a beta of 0.67. The firm has a 50-day moving average price of $35.77 and a 200 day moving average price of $35.17. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.75 and a current ratio of 4.05.

Simply Good Foods (NASDAQ:SMPL - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, meeting analysts' consensus estimates of $0.50. Simply Good Foods had a net margin of 10.46% and a return on equity of 10.23%. The business had revenue of $375.70 million during the quarter, compared to analyst estimates of $373.07 million. During the same period in the previous year, the business earned $0.41 EPS. The company's quarterly revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that The Simply Good Foods Company will post 1.76 EPS for the current year.

Insider Activity

In related news, Director Brian K. Ratzan sold 50,000 shares of the firm's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $37.38, for a total transaction of $1,869,000.00. Following the completion of the transaction, the director now owns 2,049,387 shares of the company's stock, valued at $76,606,086.06. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now directly owns 139,204 shares of the company's stock, valued at approximately $5,009,951.96. This trade represents a 15.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,869 shares of company stock worth $12,139,570. 10.98% of the stock is currently owned by corporate insiders.

Simply Good Foods Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.