Renaissance Technologies LLC Reduces Position in The Simply Good Foods Company $SMPL

Renaissance Technologies LLC lessened its holdings in shares of The Simply Good Foods Company (NASDAQ:SMPL) by 73.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,000 shares of the financial services provider’s stock after selling 333,212 shares during the quarter. Renaissance Technologies LLC’s holdings in Simply Good Foods were worth $1,765,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Simply Good Foods by 125.4% in the second quarter. EverSource Wealth Advisors LLC now owns 967 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 538 shares during the period. Leonteq Securities AG boosted its holdings in Simply Good Foods by 96.2% in the 1st quarter. Leonteq Securities AG now owns 2,309 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,132 shares during the period. Hantz Financial Services Inc. boosted its holdings in Simply Good Foods by 82.3% in the 4th quarter. Hantz Financial Services Inc. now owns 1,787 shares of the financial services provider’s stock worth $36,000 after buying an additional 807 shares during the period. Johnson Financial Group Inc. purchased a new position in Simply Good Foods in the 3rd quarter valued at approximately $36,000. Finally, Parallel Advisors LLC grew its stake in Simply Good Foods by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 2,126 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,331 shares in the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Zacks Research upgraded Simply Good Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Simply Good Foods in a research report on Thursday, June 18th. Sanford C. Bernstein lowered Simply Good Foods from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.00 to $12.00 in a research note on Wednesday, June 3rd. Jefferies Financial Group set a $17.00 price objective on Simply Good Foods in a research note on Tuesday, June 30th. Finally, UBS Group set a $15.00 price objective on Simply Good Foods in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Simply Good Foods has an average rating of “Hold” and an average target price of $15.20.

Simply Good Foods Stock Performance

NASDAQ SMPL opened at $10.86 on Wednesday. The Simply Good Foods Company has a 1 year low of $9.88 and a 1 year high of $30.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.80 and a quick ratio of 3.10. The stock has a market capitalization of $960.69 million, a PE ratio of -5.00 and a beta of 0.15. The company’s 50 day simple moving average is $11.95 and its two-hundred day simple moving average is $13.59.

Simply Good Foods (NASDAQ:SMPL) last released its quarterly earnings results on Thursday, July 9th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $356.98 million during the quarter, compared to analyst estimates of $332.99 million. Simply Good Foods had a negative net margin of 14.28% and a positive return on equity of 9.34%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 EPS. Analysts predict that The Simply Good Foods Company will post 1.54 earnings per share for the current fiscal year.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, Director Clayton C. Daley, Jr. acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $11.78 per share, with a total value of $117,800.00. Following the completion of the purchase, the director owned 111,743 shares of the company’s stock, valued at approximately $1,316,332.54. This represents a 9.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.76% of the company’s stock.

Simply Good Foods Profile

Simply Good Foods Co (NASDAQ: SMPL) is a North American consumer packaged foods company specializing in better-for-you nutrition products. The company’s portfolio centers on two well-established brands, Atkins and Quest, which offer a range of low-carbohydrate, high-protein bars, powders, shakes, and snacks. Simply Good Foods aims to support consumers’ health and wellness goals by delivering convenient, nutrient-dense options without added sugars or artificial sweeteners.

Under the Atkins brand, the company produces meal replacements, snack bars, and ready-to-drink shakes designed for low-carb dieters.