Savers Value Village (NYSE:SVV) Shares Down 4.7% – Here’s What Happened

Savers Value Village, Inc. (NYSE:SVV)’s stock price was down 4.7% during mid-day trading on Wednesday . The company traded as low as $10.00 and last traded at $10.00. Approximately 139,153 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 740,506 shares. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SVV. The Goldman Sachs Group lowered shares of Savers Value Village from a “buy” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $10.00 in a research report on Friday, August 9th. Piper Sandler cut their price objective on Savers Value Village from $13.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. lowered shares of Savers Value Village from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $12.00 in a research note on Monday, July 22nd. Robert W. Baird dropped their price target on shares of Savers Value Village from $21.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Loop Capital cut their price target on Savers Value Village from $23.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Savers Value Village currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Savers Value Village Trading Down 4.8 %

The firm’s 50-day simple moving average is $9.71 and its 200 day simple moving average is $12.64. The firm has a market cap of $1.62 billion, a P/E ratio of 24.41 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.03 and a debt-to-equity ratio of 1.75.

Savers Value Village (NYSE:SVV) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). Savers Value Village had a net margin of 2.47% and a return on equity of 2.88%. The business had revenue of $396.70 million for the quarter, compared to analysts’ expectations of $391.13 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts expect that Savers Value Village, Inc. will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Savers Value Village

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Makaira Partners LLC bought a new stake in Savers Value Village in the 2nd quarter valued at $27,418,000. Clearline Capital LP purchased a new stake in Savers Value Village in the 2nd quarter valued at about $467,000. Millennium Management LLC grew its stake in Savers Value Village by 79.3% in the second quarter. Millennium Management LLC now owns 316,097 shares of the company’s stock worth $3,869,000 after purchasing an additional 139,811 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Savers Value Village by 34.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,883,269 shares of the company’s stock worth $23,051,000 after buying an additional 481,423 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its position in shares of Savers Value Village by 71.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 48,090 shares of the company’s stock worth $589,000 after purchasing an additional 20,027 shares during the period. Hedge funds and other institutional investors own 98.78% of the company’s stock.

About Savers Value Village

Savers Value Village, Inc sells second-hand merchandise in retail stores in the United States, Canada, and Australia. It operates stores under the Savers, Value Village, Value Village Boutique, Village des Valeurs, Unique, and 2nd Avenue brands. The company purchases secondhand textiles, including clothing, bedding, and bath items; shoes; accessories; housewares; books; and other goods from non-profit partners and then processes, selects, prices, merchandises, and sells them in its stores.