Advantage Solutions (NASDAQ:ADV) Stock Price Up 10% – Here’s What Happened

Shares of Advantage Solutions Inc. (NASDAQ:ADV) were up 10% during mid-day trading on Wednesday . The company traded as high as $1.74 and last traded at $1.77. Approximately 96,605 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 411,211 shares. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price target on Advantage Solutions from $5.50 to $3.50 and set a “buy” rating for the company in a report on Tuesday.

Advantage Solutions Trading Down 3.0 %

The business has a 50 day moving average of $2.51 and a two-hundred day moving average of $3.08. The firm has a market cap of $526.04 million, a P/E ratio of -4.00 and a beta of 1.66. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 1.81.

Institutional Trading of Advantage Solutions

Several hedge funds and other institutional investors have recently modified their holdings of ADV. Barclays PLC lifted its position in Advantage Solutions by 318.7% during the third quarter. Barclays PLC now owns 166,024 shares of the company’s stock worth $570,000 after acquiring an additional 126,375 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Advantage Solutions by 116.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 323,374 shares of the company’s stock worth $1,109,000 after acquiring an additional 174,220 shares during the period. Empowered Funds LLC boosted its position in shares of Advantage Solutions by 13.9% during the 3rd quarter. Empowered Funds LLC now owns 1,617,758 shares of the company’s stock worth $5,549,000 after acquiring an additional 197,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Advantage Solutions by 23.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,941 shares of the company’s stock valued at $669,000 after purchasing an additional 36,547 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Advantage Solutions by 6.5% in the fourth quarter. Rhumbline Advisers now owns 162,734 shares of the company’s stock valued at $475,000 after acquiring an additional 9,980 shares during the last quarter. Institutional investors own 49.82% of the company’s stock.

Advantage Solutions Company Profile

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.