Investors Purchase High Volume of Simply Good Foods Call Options (NASDAQ:SMPL)

Simply Good Foods Co (NASDAQ:SMPL) saw unusually large options trading on Wednesday. Stock investors acquired 6,299 call options on the stock. This represents an increase of 1,060% compared to the average daily volume of 543 call options.

Several research firms have recently commented on SMPL. Goldman Sachs Group restated a “buy” rating and set a $34.00 price target on shares of Simply Good Foods in a research report on Monday, February 10th. ValuEngine upgraded Simply Good Foods from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. DA Davidson lowered their price target on Simply Good Foods from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Jefferies Financial Group began coverage on Simply Good Foods in a research report on Wednesday, January 22nd. They set a “buy” rating and a $30.00 price target for the company. Finally, Deutsche Bank began coverage on Simply Good Foods in a research report on Wednesday, December 11th. They set a “buy” rating and a $32.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Simply Good Foods has an average rating of “Buy” and a consensus price target of $30.13.

Shares of NASDAQ SMPL opened at $16.87 on Friday. The stock has a market cap of $1.47 billion, a P/E ratio of 51.12 and a beta of 0.81. The company has a current ratio of 2.67, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54. Simply Good Foods has a 12-month low of $14.08 and a 12-month high of $31.34. The business’s fifty day simple moving average is $20.26 and its 200-day simple moving average is $25.01.

Simply Good Foods (NASDAQ:SMPL) last announced its quarterly earnings data on Thursday, January 9th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $159.40 million. Simply Good Foods had a return on equity of 5.64% and a net margin of 4.96%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period last year, the firm earned $0.18 earnings per share. On average, equities analysts forecast that Simply Good Foods will post 0.92 EPS for the current fiscal year.

In other Simply Good Foods news, Director Brian K. Ratzan acquired 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average cost of $23.16 per share, for a total transaction of $231,600.00. Following the completion of the transaction, the director now owns 66,254 shares of the company’s stock, valued at approximately $1,534,442.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd E. Cunfer purchased 5,000 shares of the stock in a transaction dated Tuesday, January 14th. The shares were purchased at an average price of $23.30 per share, with a total value of $116,500.00. Following the completion of the transaction, the chief financial officer now owns 36,765 shares of the company’s stock, valued at $856,624.50. The disclosure for this purchase can be found here. Insiders purchased 125,461 shares of company stock valued at $2,875,588 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in Simply Good Foods by 540.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,729 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,459 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in Simply Good Foods by 2,146.8% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,775 shares of the financial services provider’s stock valued at $51,000 after buying an additional 1,696 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Simply Good Foods by 89.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,272 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,071 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in Simply Good Foods in the fourth quarter valued at $159,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Simply Good Foods by 35.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,780 shares of the financial services provider’s stock valued at $165,000 after buying an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 90.12% of the company’s stock.

Simply Good Foods Company Profile

The Simply Good Foods Company develops, markets, and sells branded nutritional foods and snack products in North America and internationally. It markets nutrition bars, ready-to-drink shakes, snacks, and confectionery products under the Atkins, SimplyProtein, Atkins Harvest Trail, and Atkins Endulge brand names.

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