Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 7.56MM shares of SmileDirectClub, Inc. Class A (SDC). This represents 6.2% of the company.
In their previous filing dated February 10, 2022 they reported 9.84MM shares and 8.26% of the company, a decrease in shares of 23.24% and a decrease in total ownership of 2.06% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 22.11% Upside
As of February 8, 2023, the average one-year price target for SmileDirectClub, Inc. is $0.81. The forecasts range from a low of $0.50 to a high of $1.05. The average price target represents an increase of 22.11% from its latest reported closing price of $0.66.
The projected annual revenue for SmileDirectClub, Inc. is $493MM, a decrease of 3.38%. The projected annual EPS is -$0.66.
What is the Fund Sentiment?
There are 141 funds or institutions reporting positions in SmileDirectClub, Inc.. This is a decrease of 24 owner(s) or 14.55% in the last quarter. Average portfolio weight of all funds dedicated to SDC is 0.02%, an increase of 2.17%. Total shares owned by institutions decreased in the last three months by 24.87% to 27,392K shares. The put/call ratio of SDC is 0.34, indicating a bullish outlook.
What are large shareholders doing?
Prentice Capital Management holds 4,598K shares representing 3.78% ownership of the company. In it's prior filing, the firm reported owning 7,154K shares, representing a decrease of 55.60%. The firm increased its portfolio allocation in SDC by 1.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,592K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 2,899K shares, representing an increase of 19.30%. The firm increased its portfolio allocation in SDC by 12.45% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,809K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 2,791K shares, representing an increase of 0.66%. The firm decreased its portfolio allocation in SDC by 8.62% over the last quarter.
VISGX - Vanguard Small-Cap Growth Index Fund Investor Shares holds 1,595K shares representing 1.31% ownership of the company. In it's prior filing, the firm reported owning 1,589K shares, representing an increase of 0.41%. The firm decreased its portfolio allocation in SDC by 10.92% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 1,521K shares representing 1.25% ownership of the company. In it's prior filing, the firm reported owning 1,430K shares, representing an increase of 5.98%. The firm decreased its portfolio allocation in SDC by 5.83% over the last quarter.
Smiledirectclub Background Information
(This description is provided by the company.)
SmileDirectClub, Inc. ('SmileDirectClub') is an oral care company and creator of the first medtech platform for teeth straightening, now also offered directly via dentist and orthodontist offices. Through its proprietary technology and vertically integrated model, SmileDirectClub is revolutionizing the oral care industry, offering consumers the ability to get clinically safe and effective treatment but without the 3x markup associated with traditional orthodontics. SmileDirectClub's mission is to democratize access to a smile each and every person loves by making it affordable and convenient for everyone, from clear aligner therapy to premium oral care products. SmileDirectClub is headquartered in Nashville, Tennessee and operates in the U.S., Canada, Australia, New Zealand, United Kingdom, Ireland, Germany, Austria, Spain, Netherlands, Hong Kong and Singapore.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
