Smart (SFS) Trading Down 7.4% Following Insider Selling

Smart (NYSE:SFS) dropped 7.4% on Tuesday after an insider sold shares in the company. The company traded as low as $8.45 and last traded at $8.80. Approximately 650,384 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 530,972 shares. The stock had previously closed at $9.50.

Specifically, SVP Michael A. Mortensen sold 19,304 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $6.11, for a total value of $117,947.44. Following the completion of the sale, the senior vice president now owns 40,515 shares of the company’s stock, valued at approximately $247,546.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Eleanor Hong sold 6,400 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $8.00, for a total transaction of $51,200.00. Following the completion of the sale, the vice president now directly owns 59,922 shares of the company’s stock, valued at approximately $479,376. The disclosure for this sale can be found here. In the last three months, insiders sold 109,500 shares of company stock valued at $836,611. 8.47% of the stock is owned by insiders.

Several brokerages have issued reports on SFS. Loop Capital lowered their target price on shares of Smart from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. Morgan Stanley lowered their target price on shares of Smart from $7.50 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, November 16th. Wells Fargo & Company began coverage on shares of Smart in a research note on Friday, November 3rd. They set an “outperform” rating and a $9.00 target price on the stock. Zacks Investment Research cut shares of Smart from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Deutsche Bank lowered their target price on shares of Smart from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Smart has a consensus rating of “Hold” and an average price target of $11.23.

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.29 and a current ratio of 0.92. The stock has a market cap of $666.38, a PE ratio of 32.50, a price-to-earnings-growth ratio of 5.01 and a beta of 0.62.

Several hedge funds have recently made changes to their positions in the company. Credit Suisse AG boosted its position in shares of Smart by 0.4% during the 1st quarter. Credit Suisse AG now owns 46,587 shares of the company’s stock valued at $563,000 after acquiring an additional 193 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Smart by 1.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 100,397 shares of the company’s stock valued at $914,000 after acquiring an additional 1,030 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Smart by 2.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 79,948 shares of the company’s stock valued at $728,000 after acquiring an additional 1,690 shares during the last quarter. Keybank National Association OH boosted its position in shares of Smart by 2.9% during the 2nd quarter. Keybank National Association OH now owns 82,700 shares of the company’s stock valued at $753,000 after acquiring an additional 2,327 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Smart by 61.9% during the 3rd quarter. Wells Fargo & Company MN now owns 30,480 shares of the company’s stock valued at $239,000 after acquiring an additional 11,652 shares during the last quarter.

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About Smart

Smart & Final Stores, Inc is a food retailer. The Company is engaged in the business of selling fresh perishables and everyday grocery items, together with foodservice, packaging and janitorial products. The Company operates through two segments: Smart & Final, and Cash and Carry. The Smart & Final segment focuses on both household and business customers.

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