Simply Good Foods (NASDAQ:SMPL) Shares Gap Down to $27.26

Simply Good Foods Co (NASDAQ:SMPL)’s share price gapped down before the market opened on Monday . The stock had previously closed at $29.40, but opened at $27.26. Simply Good Foods shares last traded at $26.45, with a volume of 6,527,474 shares changing hands.

Several equities research analysts recently commented on the company. Zacks Investment Research raised Simply Good Foods from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. SunTrust Banks reaffirmed a “hold” rating and set a $25.00 price objective on shares of Simply Good Foods in a research report on Wednesday, July 3rd. Wells Fargo & Co assumed coverage on Simply Good Foods in a research report on Monday, September 9th. They set an “outperform” rating and a $35.00 price objective on the stock. Deutsche Bank increased their price objective on Simply Good Foods from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 4th. Finally, Sanford C. Bernstein assumed coverage on Simply Good Foods in a research report on Monday, August 12th. They set an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Simply Good Foods presently has an average rating of “Buy” and a consensus price target of $29.00.

The firm has a market capitalization of $2.17 billion, a PE ratio of 45.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.23, a current ratio of 8.63 and a quick ratio of 7.57. The firm has a 50-day simple moving average of $28.95 and a 200-day simple moving average of $25.12.

In other Simply Good Foods news, COO Hanno E. Holm sold 1,750 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $27.87, for a total value of $48,772.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Hanno E. Holm sold 15,983 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $26.88, for a total value of $429,623.04. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Investments LLC bought a new position in shares of Simply Good Foods in the second quarter worth about $1,857,000. Mackenzie Financial Corp bought a new position in shares of Simply Good Foods in the second quarter worth about $348,000. Susquehanna International Group LLP raised its stake in shares of Simply Good Foods by 204.1% in the second quarter. Susquehanna International Group LLP now owns 57,179 shares of the financial services provider’s stock worth $1,377,000 after buying an additional 38,379 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Simply Good Foods by 39.6% in the second quarter. Voloridge Investment Management LLC now owns 27,700 shares of the financial services provider’s stock worth $667,000 after buying an additional 7,860 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in shares of Simply Good Foods in the second quarter worth about $29,691,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

About Simply Good Foods (NASDAQ:SMPL)

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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