Advantage Solutions (NASDAQ:ADV) Announces Earnings Results
Advantage Solutions (NASDAQ:ADV) reported quarterly earnings of $0.06 per share, missing estimates of $0.24. Revenue was $915.01 million, below the expected $933.56 million. The company has a negative return on equity of 39.45% and a net margin of -8.72%. Following the earnings report, the stock fell 5.8% to $1.13. Analysts have a consensus rating of "Hold" with an average price target of $2.25. Institutional investors own 49.82% of the stock, with recent changes in positions noted.
Advantage Solutions (NASDAQ:ADV - Get Free Report) released its quarterly earnings data 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 business had revenue of $915.01 million during the quarter, compared to analysts' expectations of $933.56 million.
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Advantage Solutions Stock Down 5.8%
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NASDAQ:ADV traded down $0.07 during mid-day trading on Friday, hitting $1.13. 590,088 shares of the company's stock were exchanged, compared to its average volume of 640,373. The company has a market cap of $368.32 million, a PE 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 one year low of $1.04 and a one year high of $4.04. The business has a fifty day moving average price of $1.58 and a 200 day moving average price of $1.50.
Institutional Trading of Advantage Solutions
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in Advantage Solutions by 4.0% in the first quarter. Empowered Funds LLC now owns 1,769,040 shares of the company's stock worth $2,671,000 after acquiring an additional 68,177 shares in the last quarter. Strs Ohio bought a new position in Advantage Solutions in the 1st quarter worth about $117,000. Creative Planning purchased a new stake in Advantage Solutions during the 2nd quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Advantage Solutions during the 2nd quarter valued at about $31,000. Finally, Bank of America Corp DE increased its stake in Advantage Solutions by 21.8% during the 2nd quarter. Bank of America Corp DE now owns 71,676 shares of the company's stock valued at $95,000 after purchasing an additional 12,816 shares in the last quarter. Hedge funds and other institutional investors own 49.82% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Advantage Solutions in a report on Wednesday, October 8th. One equities 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, Advantage Solutions currently has a consensus rating of "Hold" and an average price target of $2.25.
Read Our Latest Stock Analysis on ADV
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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