Piper Sandler Forecasts Strong Price Appreciation for Savers Value Village (NYSE:SVV) Stock

Savers Value Village (NYSE:SVV) had its price target increased by Piper Sandler from $10.00 to $11.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Savers Value Village Stock Performance

Savers Value Village stock opened at $11.25 on Friday. The stock has a fifty day moving average price of $9.86 and a 200 day moving average price of $10.07. Savers Value Village has a 52 week low of $7.78 and a 52 week high of $21.33. The firm has a market capitalization of $1.80 billion, a P/E ratio of 24.45 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.70.

Insider Buying and Selling

In other Savers Value Village news, COO Jubran N. Tanious sold 7,889 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $10.31, for a total transaction of $81,335.59. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SVV. FMR LLC grew its position in Savers Value Village by 30.8% during the third quarter. FMR LLC now owns 3,437,895 shares of the company’s stock valued at $36,167,000 after acquiring an additional 808,867 shares during the period. Makaira Partners LLC purchased a new stake in shares of Savers Value Village during the 2nd quarter worth about $27,418,000. Thrivent Financial for Lutherans increased its position in Savers Value Village by 329.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,068,621 shares of the company’s stock worth $25,320,000 after purchasing an additional 1,586,964 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Savers Value Village by 34.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,883,269 shares of the company’s stock valued at $23,051,000 after buying an additional 481,423 shares during the period. Finally, Baillie Gifford & Co. lifted its position in Savers Value Village by 34.8% during the third quarter. Baillie Gifford & Co. now owns 550,634 shares of the company’s stock valued at $5,793,000 after buying an additional 142,101 shares in the last quarter. 98.78% of the stock is owned by hedge funds and other institutional investors.

Savers Value Village Company Profile

Savers Value Village, Inc sells second-hand merchandise in retail stores in the United States, Canada, and Australia. It operates stores under the Savers, Value Village, Value Village Boutique, Village des Valeurs, Unique, and 2nd Avenue brands. The company purchases secondhand textiles, including clothing, bedding, and bath items; shoes; accessories; housewares; books; and other goods from non-profit partners and then processes, selects, prices, merchandises, and sells them in its stores.