T. Rowe Price Investment Manageme recently announced the acquisition of new stake in Advantage Solutions Inc. (NASDAQ:ADV). The institutional investor has increased its shareholding in the Communication Services company by 0.66% to 11.34 million shares with purchase of 74606.0 shares. This fresh investment now brings its stake to 3.48% valued currently at $31.2 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.13 million to 8.0 million shares. And BlackRock Fund Advisors has lifted its position by 1.14% or 63965.0 shares – to 5.66 million shares.
With over 0.46 million Advantage Solutions Inc. (ADV) shares trading Friday and a closing price of $3.94 on the day, the dollar volume was approximately $1.82 million. The shares have shown a positive half year performance of 72.81% and its price on 12/22/23 lost nearly -0.51%. Currently, there are 319.69M common shares owned by the public and among those 104.29M shares have been available to trade.
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Insiders at the company have transacted a total of 58 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 50 of these insider trades were purchases, accounting for 3,764,346 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 22,115,485 shares.
The top 3 mutual fund holders in Advantage Solutions Inc. are T Rowe Price Small Cap Value Fund, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. T Rowe Price Small Cap Value Fund owns 6.26 million shares of the company’s stock, all valued at over $17.2 million. The company sold 13300.0 shares recently to bring their total holdings to about 1.92% of the shares outstanding. iShares Russell 2000 ETF bought 1062.0 shares to bring its total holdings to over 2.16 million shares at a value of $5.93 million. iShares Russell 2000 ETF now owns shares totaling to 0.66% of the shares outstanding.
Shares of Advantage Solutions Inc. (NASDAQ: ADV) opened at $3.97, up $0.01 from a prior closing price of $3.96. However, the script later moved the day high at 4.0500, down -0.51%. The company’s stock has a 5-day price change of 2.87% and 38.73% over the past three months. ADV shares are trading 89.42% year to date (YTD), with the 12-month market performance up to 106.28% higher. It has a 12-month low price of $1.13 and touched a high of $4.05 over the same period. ADV has an average intraday trading volume of 590.96K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 23.20%, 44.67%, and 69.81% respectively.
Institutional ownership of Advantage Solutions Inc. (NASDAQ: ADV) shares accounts for 18.64% of the company’s 319.69M shares outstanding. Mutual fund holders own 9.31%, while other institutional holders and individual stakeholders account for 9.34% and 63.73% respectively.
It has a market capitalization of $1.29B and a beta (3y monthly) value of 1.69. The earnings-per-share (ttm) stands at -$4.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.37% over the week and 4.96% over the month.
Analysts forecast that Advantage Solutions Inc. (ADV) will achieve an EPS of $Advent Technologies Holdings, I for the current quarter, $0.21 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Archer-Daniels-Midland Company while analysts give the company a high EPS estimate of $AdvisorShares Trust AdvisorShar. Comparatively, EPS for the current quarter was $Analog Devices, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -31.75%, and 13.95% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Advantage Solutions Inc. (ADV) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ADV, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on December 06, 2023, with the firm’s price target at $4.
