Advantage Solutions (NASDAQ:ADV) Stock Price Up 7.6% After Insider Buying Activity

Advantage Solutions Inc. (NASDAQ:ADV)’s stock price was up 7.6% on Wednesday after an insider bought additional shares in the company. The company traded as high as $3.58 and last traded at $3.55. Approximately 75,422 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 785,639 shares. The stock had previously closed at $3.30.

Specifically, CEO David A. Peacock acquired 16,633 shares of the business’s stock in a transaction on Monday, November 11th. The stock was bought at an average price of $3.30 per share, for a total transaction of $54,888.90. Following the acquisition, the chief executive officer now owns 2,352,029 shares in the company, valued at approximately $7,761,695.70. The trade was a 0.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Advantage Solutions Trading Down 1.2 %

The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 1.82. The company has a fifty day simple moving average of $3.38 and a 200-day simple moving average of $3.50. The company has a market capitalization of $1.04 billion, a PE ratio of -8.00 and a beta of 1.48.

Hedge Funds Weigh In On Advantage Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Advantage Solutions during the 1st quarter worth about $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Advantage Solutions during the second quarter worth about $31,000. Algert Global LLC purchased a new stake in shares of Advantage Solutions in the 2nd quarter valued at approximately $36,000. Creative Planning acquired a new position in shares of Advantage Solutions during the 3rd quarter worth about $82,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Advantage Solutions by 46.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,183 shares of the company’s stock worth $84,000 after purchasing an additional 8,256 shares in the last quarter. 49.82% of the stock is currently owned by institutional investors and hedge funds.

About Advantage Solutions

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.