Advantage Solutions (NASDAQ:ADV) Shares Gap Up After Insider Buying Activity



Advantage Solutions Inc. (NASDAQ:ADV – Get Free Report) gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $2.87, but opened at $3.08. Advantage Solutions shares last traded at $3.02, with a volume of 99,420 shares.

Specifically, CEO David A. Peacock purchased 40,000 shares of Advantage Solutions stock in a transaction that occurred on Friday, June 21st. The stock was bought at an average cost of $2.79 per share, for a total transaction of $111,600.00. Following the completion of the transaction, the chief executive officer now owns 2,320,396 shares in the company, valued at $6,473,904.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded Advantage Solutions from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.43.

View Our Latest Research Report on Advantage Solutions

Advantage Solutions Trading Up 6.3 %

The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average is $3.63 and its 200-day moving average is $3.83. The stock has a market capitalization of $982.65 million, a price-to-earnings ratio of -43.57 and a beta of 1.50.

Advantage Solutions (NASDAQ:ADV – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.24). Advantage Solutions had a negative return on equity of 5.26% and a negative net margin of 0.36%. The firm had revenue of $879.00 million for the quarter, compared to analyst estimates of $893.04 million. During the same quarter in the prior year, the business earned ($0.15) EPS. Research analysts anticipate that Advantage Solutions Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Advantage Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Advantage Solutions by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,371,726 shares of the company’s stock worth $36,250,000 after purchasing an additional 99,133 shares during the last quarter. Atairos Partners GP Inc. boosted its stake in Advantage Solutions by 16.9% during the first quarter. Atairos Partners GP Inc. now owns 4,971,442 shares of the company’s stock worth $21,526,000 after buying an additional 717,714 shares during the period. Kent Lake Capital LLC increased its position in shares of Advantage Solutions by 1.0% during the fourth quarter. Kent Lake Capital LLC now owns 1,615,260 shares of the company’s stock valued at $5,847,000 after acquiring an additional 15,260 shares during the last quarter. Contrarian Capital Management L.L.C. raised its stake in shares of Advantage Solutions by 2.0% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 1,269,631 shares of the company’s stock valued at $4,596,000 after acquiring an additional 25,000 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Advantage Solutions by 18.5% in the 1st quarter. Empowered Funds LLC now owns 1,218,062 shares of the company’s stock worth $5,274,000 after acquiring an additional 190,415 shares during the last quarter. Hedge funds and other institutional investors own 49.82% of the company’s stock.

About Advantage Solutions

(Get Free Report)

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.

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