Advantage Solutions (NASDAQ:ADV) Issues Earnings Results, Misses Estimates By $0.18 EPS

Advantage Solutions (NASDAQ:ADV) issued its earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.18), Zacks reports. Advantage Solutions had a negative return on equity of 39.45% and a negative net margin of 8.72%.The company had revenue of $915.01 million during the quarter, compared to analyst estimates of $933.56 million.

Advantage Solutions Stock Performance

Shares of NASDAQ ADV traded down $0.07 during midday trading on Friday, reaching $1.13. 590,373 shares of the company traded hands, compared to its average volume of 640,374. The stock has a 50-day moving average price of $1.58 and a 200 day moving average price of $1.50. The company has a market cap of $368.32 million, a price-to-earnings ratio of -1.20 and a beta of 2.17. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.96 and a quick ratio of 1.96. Advantage Solutions has a 52 week low of $1.04 and a 52 week high of $4.04.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Advantage Solutions in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Advantage Solutions by 40.7% during the third quarter. Vanguard Group Inc. now owns 2,675,768 shares of the company’s stock worth $4,094,000 after purchasing an additional 773,560 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Advantage Solutions by 78.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,345 shares of the company’s stock valued at $262,000 after purchasing an additional 75,409 shares during the period. Bank of America Corp DE raised its stake in shares of Advantage Solutions by 21.8% in the 2nd quarter. Bank of America Corp DE now owns 71,676 shares of the company’s stock worth $95,000 after buying an additional 12,816 shares in the last quarter. Strs Ohio acquired a new stake in shares of Advantage Solutions in the first quarter valued at $117,000. Finally, Empowered Funds LLC lifted its holdings in shares of Advantage Solutions by 4.0% in the first quarter. Empowered Funds LLC now owns 1,769,040 shares of the company’s stock valued at $2,671,000 after buying an additional 68,177 shares during the period. 49.82% of the stock is currently owned by institutional investors.

Advantage Solutions Company Profile

Advantage Solutions Inc provides business solutions to consumer goods manufacturers and retailers in North America and internationally. It operates in two segments, Sales and Marketing. The Sales segment offers brand-centric services, such as headquarter relationship management; analytics, insights, and intelligence; and brand-centric merchandising services.