Short Interest in The Simply Good Foods Company (NASDAQ:SMPL) Drops By 20.1%

The Simply Good Foods Company (NASDAQ:SMPL) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,130,000 shares, a drop of 20.1% from the October 15th total of 5,170,000 shares. Based on an average daily trading volume, of 853,000 shares, the short-interest ratio is presently 4.8 days. Approximately 4.6% of the company’s stock are sold short.

Insider Transactions at Simply Good Foods

In other Simply Good Foods news, insider Timothy Richard Kraft sold 21,209 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $36.50, for a total value of $774,128.50. Following the completion of the sale, the insider now owns 40,068 shares in the company, valued at $1,462,482. This represents a 34.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Scalzo sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $35.99, for a total transaction of $899,750.00. Following the transaction, the director now owns 139,204 shares in the company, valued at approximately $5,009,951.96. This represents a 15.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 251,108 shares of company stock valued at $9,253,356 over the last quarter. Company insiders own 10.98% of the company’s stock.

Institutional Trading of Simply Good Foods

Several large investors have recently modified their holdings of the company. Quarry LP acquired a new position in Simply Good Foods during the 2nd quarter worth $30,000. GAMMA Investing LLC increased its stake in shares of Simply Good Foods by 182.4% in the second quarter. GAMMA Investing LLC now owns 850 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 549 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Simply Good Foods by 236.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,241 shares during the last quarter. Innealta Capital LLC bought a new stake in Simply Good Foods during the 2nd quarter valued at approximately $71,000. Finally, KBC Group NV grew its holdings in Simply Good Foods by 31.9% in the 3rd quarter. KBC Group NV now owns 3,084 shares of the financial services provider’s stock valued at $107,000 after buying an additional 746 shares during the last quarter. 88.45% of the stock is owned by institutional investors.

Simply Good Foods Stock Down 1.6 %

Shares of NASDAQ:SMPL traded down $0.61 on Friday, reaching $36.71. The company had a trading volume of 893,176 shares, compared to its average volume of 881,363. The company has a quick ratio of 2.75, a current ratio of 4.05 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.68 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.23 and a beta of 0.64. The stock has a 50-day moving average price of $34.23 and a 200 day moving average price of $34.96. Simply Good Foods has a twelve month low of $30.00 and a twelve month high of $43.00.

Simply Good Foods (NASDAQ:SMPL) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. Simply Good Foods had a return on equity of 10.23% and a net margin of 10.46%. The firm had revenue of $375.70 million during the quarter, compared to analysts’ expectations of $373.07 million. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts expect that Simply Good Foods will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on SMPL shares. Stephens reduced their price objective on Simply Good Foods from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup cut their price target on Simply Good Foods from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Simply Good Foods presently has an average rating of “Moderate Buy” and an average price target of $40.78.

Simply Good Foods Company Profile

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.