Russell Investments Group Ltd. Increases Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Posted by Andrew Walz on Dec 3rd, 2019

Russell Investments Group Ltd. raised its position in Ingles Markets, Incorporated (NASDAQ:IMKTA) by 314.2% during the third quarter, Holdings Channel reports. The firm owned 5,691 shares of the company’s stock after buying an additional 4,317 shares during the quarter. Russell Investments Group Ltd.’s holdings in Ingles Markets were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Trust Advisors LP raised its position in Ingles Markets by 2.4% in the first quarter. First Trust Advisors LP now owns 26,086 shares of the company’s stock valued at $720,000 after purchasing an additional 608 shares during the period. FCA Corp TX raised its position in Ingles Markets by 0.9% in the second quarter. FCA Corp TX now owns 87,029 shares of the company’s stock valued at $2,709,000 after purchasing an additional 750 shares during the period. James Investment Research Inc. raised its position in Ingles Markets by 2.3% in the third quarter. James Investment Research Inc. now owns 34,145 shares of the company’s stock valued at $1,327,000 after purchasing an additional 770 shares during the period. Quantamental Technologies LLC purchased a new stake in Ingles Markets in the second quarter valued at approximately $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Ingles Markets in the third quarter worth $40,000. 66.11% of the stock is currently owned by institutional investors.

Several equities analysts have commented on IMKTA shares. Zacks Investment Research downgraded shares of Ingles Markets from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. BidaskClub downgraded shares of Ingles Markets from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 23rd.

NASDAQ:IMKTA opened at $44.50 on Tuesday. The company has a fifty day simple moving average of $41.61 and a two-hundred day simple moving average of $36.12. The company has a market cap of $900.31 million, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 0.72 and a beta of 0.36. The company has a quick ratio of 0.47, a current ratio of 2.06 and a debt-to-equity ratio of 1.30. Ingles Markets, Incorporated has a 52 week low of $25.57 and a 52 week high of $44.87.

In other Ingles Markets news, Director Sharp Laura Ingle sold 5,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $41.04, for a total value of $205,200.00. Following the completion of the transaction, the director now owns 13,712 shares in the company, valued at $562,740.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 29.30% of the company’s stock.

Ingles Markets Profile

Ingles Markets, Incorporated operates a chain of supermarkets in the southeast United States. Its supermarkets offer various food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, such as fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.