Allianz Asset Management AG cut its position in shares of Amplify Snack Brands Inc (NYSE:BETR) by 59.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,446 shares of the company’s stock after selling 162,924 shares during the period. Allianz Asset Management AG owned approximately 0.15% of Amplify Snack Brands worth $971,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Great West Life Assurance Co. Can acquired a new stake in shares of Amplify Snack Brands during the third quarter worth $102,000. PNC Financial Services Group Inc. increased its stake in shares of Amplify Snack Brands by 121.1% in the third quarter. PNC Financial Services Group Inc. now owns 8,017 shares of the company’s stock worth $130,000 after buying an additional 4,391 shares during the last quarter. Croft Leominster Inc. acquired a new stake in shares of Amplify Snack Brands during the third quarter worth $170,000. Pitcairn Co. increased its stake in shares of Amplify Snack Brands by 7.0% in the fourth quarter. Pitcairn Co. now owns 21,146 shares of the company’s stock worth $186,000 after buying an additional 1,378 shares during the last quarter. Finally, Spot Trading L.L.C acquired a new stake in shares of Amplify Snack Brands during the third quarter worth $296,000. Institutional investors and hedge funds own 89.86% of the company’s stock.
Shares of Amplify Snack Brands Inc (NYSE:BETR) opened at 8.24 on Tuesday. Amplify Snack Brands Inc has a 52 week low of $7.86 and a 52 week high of $17.53. The stock has a 50 day moving average price of $9.64 and a 200 day moving average price of $12.00. The firm has a market capitalization of $632.64 million, a P/E ratio of 22.89 and a beta of 1.97.
Amplify Snack Brands (NYSE:BETR) last issued its quarterly earnings data on Wednesday, March 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by $0.01. The firm had revenue of $88.60 million for the quarter, compared to the consensus estimate of $87.50 million. Amplify Snack Brands had a net margin of 10.16% and a return on equity of 113.22%. The business’s revenue was up 90.9% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. Analysts forecast that Amplify Snack Brands Inc will post $0.45 EPS for the current year.
A number of brokerages have weighed in on BETR. Wedbush decreased their price target on Amplify Snack Brands from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Thursday, March 9th. Craig Hallum began coverage on Amplify Snack Brands in a report on Monday, February 13th. They set a “hold” rating and a $11.00 price target for the company. Zacks Investment Research upgraded Amplify Snack Brands from a “sell” rating to a “hold” rating in a report on Monday, February 6th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Amplify Snack Brands in a report on Thursday, January 26th. Finally, Jefferies Group LLC decreased their price target on Amplify Snack Brands from $18.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $15.50.
About Amplify Snack Brands
Amplify Snack Brands, Inc is a snack food company. The Company and its subsidiaries are focused on developing and marketing products that appeal to consumers’ preference for Better-For-You (BFY) snacks. Its BFY-focused snacking platform consists of two brands: SkinnyPop and Paqui. Its anchor brand, SkinnyPop, is a BFY ready-to-eat (RTE) popcorn brand.
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