Savers Value Village falls after secondary offering announced

Thrift operator Savers Value Village's SVV.N shares fall 2.6% to $11.01 before the bell

SVV announces launch of secondary public offering of 15 million shares by certain existing stockholders

Selling shareholders include alternative investment manager Ares Management ARES.N and SVV CEO Mark Walsh

Stock closed up 2.4% at $11.30 on Monday

J.P. Morgan, Jefferies, Goldman Sachs and UBS Investment Bank are the joint book-running managers for the offering

Concurrently, SVV has authorized the purchase of $20 million worth of shares from the underwriters as part of the offering

5 of 8 brokerages rate the stock "buy" or higher and 3 "hold"; median PT $12.50 - data compiled by LSEG

As of last close, SVV stock up 10.2% YTD