Ballast Asset Management LP Acquires New Position in Ingles Markets, Incorporated (NASDAQ:IMKTA)

Ballast Asset Management LP acquired a new stake in shares of Ingles Markets, Incorporated (NASDAQ:IMKTA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,904 shares of the company’s stock, valued at approximately $1,991,000. Ballast Asset Management LP owned approximately 0.16% of Ingles Markets as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Ingles Markets during the fourth quarter valued at $30,000. FNY Investment Advisers LLC bought a new position in Ingles Markets during the 4th quarter valued at about $96,000. EntryPoint Capital LLC purchased a new stake in shares of Ingles Markets during the 4th quarter valued at about $204,000. Captrust Financial Advisors bought a new stake in shares of Ingles Markets in the third quarter worth approximately $206,000. Finally, Intech Investment Management LLC purchased a new position in shares of Ingles Markets during the third quarter valued at approximately $266,000. 62.54% of the stock is owned by hedge funds and other institutional investors.

Ingles Markets Stock Up 2.1 %

Ingles Markets stock opened at $65.13 on Tuesday. The stock has a market cap of $1.24 billion, a PE ratio of 15.73 and a beta of 0.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.45 and a current ratio of 3.24. The stock has a fifty day moving average of $63.89 and a 200 day moving average of $66.28. Ingles Markets, Incorporated has a one year low of $58.92 and a one year high of $82.01.

Ingles Markets (NASDAQ:IMKTA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter. Ingles Markets had a net margin of 1.45% and a return on equity of 5.09%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Ingles Markets from a “buy” rating to a “hold” rating in a report on Monday, February 10th.

Ingles Markets Profile

Ingles Markets, Incorporated, together with its subsidiaries, operates a chain of supermarkets in the southeast United States. It offers food products, including grocery, meat and dairy products, produce, frozen foods, and other perishables; and non-food products, which include fuel centers, pharmacies, health and beauty care products, and general merchandise, as well as private label items.