Advantage Solutions (NASDAQ:ADV) Shares Gap Down to $2.50

Shares of Advantage Solutions Inc. (NASDAQ:ADV) gapped down prior to trading on Tuesday . The stock had previously closed at $2.50, but opened at $2.43. Advantage Solutions shares last traded at $2.48, with a volume of 13,240 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADV. The Goldman Sachs Group raised their target price on Advantage Solutions from $2.90 to $3.30 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $3.00 target price on shares of Advantage Solutions in a report on Monday, August 7th.

Advantage Solutions Stock Performance

The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market cap of $806.19 million, a price-to-earnings ratio of -0.53 and a beta of 1.48. The company has a fifty day moving average of $2.61 and a two-hundred day moving average of $2.42.

Insider Activity at Advantage Solutions

In other news, Director James M. Kilts acquired 35,976 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average price of $2.00 per share, with a total value of $71,952.00. Following the acquisition, the director now directly owns 641,417 shares in the company, valued at approximately $1,282,834. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director James M. Kilts bought 35,976 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $2.00 per share, with a total value of $71,952.00. Following the acquisition, the director now owns 641,417 shares of the company’s stock, valued at $1,282,834. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director James M. Kilts bought 11,618 shares of the business’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $2.66 per share, for a total transaction of $30,903.88. Following the completion of the acquisition, the director now directly owns 562,577 shares in the company, valued at approximately $1,496,454.82. The disclosure for this purchase can be found here. Insiders have bought a total of 114,451 shares of company stock valued at $266,291 in the last 90 days. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new position in shares of Advantage Solutions in the 4th quarter worth about $25,000. ProShare Advisors LLC bought a new stake in Advantage Solutions in the 2nd quarter valued at about $26,000. Royal Bank of Canada increased its position in Advantage Solutions by 45.1% in the 2nd quarter. Royal Bank of Canada now owns 12,000 shares of the company’s stock valued at $28,000 after buying an additional 3,731 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Advantage Solutions in the 1st quarter valued at about $29,000. Finally, Two Sigma Investments LP acquired a new position in Advantage Solutions during the 1st quarter valued at about $32,000. 24.83% of the stock is owned by institutional investors and hedge funds.

About Advantage Solutions

Advantage Solutions Inc provides outsourced solutions to consumer goods companies 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; administration; and brand-centric merchandising services.