Insider Buying: Simply Good Foods Co (NASDAQ:SMPL) Director Buys 21,275 Shares of Stock

Simply Good Foods Co (NASDAQ:SMPL) Director Nomi Ghez acquired 21,275 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was acquired at an average cost of $23.27 per share, with a total value of $495,069.25. Following the acquisition, the director now owns 110,350 shares of the company’s stock, valued at $2,567,844.50. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Shares of SMPL traded up $1.51 during midday trading on Tuesday, hitting $24.38. 4,342,694 shares of the stock traded hands, compared to its average volume of 2,237,384. Simply Good Foods Co has a 1-year low of $18.75 and a 1-year high of $31.34. The firm has a market capitalization of $2.29 billion, a PE ratio of 43.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 2.67. The business’s 50 day moving average price is $27.58 and its two-hundred day moving average price is $27.07.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings results on Thursday, January 9th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Simply Good Foods had a net margin of 4.96% and a return on equity of 5.64%. The company had revenue of $152.20 million during the quarter, compared to the consensus estimate of $159.40 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities research analysts forecast that Simply Good Foods Co will post 0.94 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in SMPL. Invesco Ltd. boosted its holdings in shares of Simply Good Foods by 1,058.1% during the second quarter. Invesco Ltd. now owns 1,453,234 shares of the financial services provider’s stock valued at $34,994,000 after acquiring an additional 1,327,747 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Simply Good Foods during the second quarter valued at about $29,691,000. BlackRock Inc. raised its stake in shares of Simply Good Foods by 12.6% during the second quarter. BlackRock Inc. now owns 4,702,639 shares of the financial services provider’s stock valued at $113,240,000 after purchasing an additional 525,409 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Simply Good Foods by 904.6% during the second quarter. Marshall Wace LLP now owns 403,953 shares of the financial services provider’s stock valued at $9,727,000 after purchasing an additional 363,742 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Simply Good Foods during the third quarter valued at about $8,660,000. 73.06% of the stock is owned by institutional investors.

A number of equities analysts have commented on SMPL shares. Deutsche Bank started coverage on shares of Simply Good Foods in a report on Wednesday, December 11th. They issued a “buy” rating and a $32.00 price objective for the company. Goldman Sachs Group reissued a “buy” rating and set a $32.00 price target on shares of Simply Good Foods in a report on Monday, November 11th. ValuEngine downgraded shares of Simply Good Foods from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Finally, Zacks Investment Research raised shares of Simply Good Foods from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Simply Good Foods presently has a consensus rating of “Buy” and a consensus price target of $30.57.

Simply Good Foods Company Profile

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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