Bayesian Capital Management LP Buys New Holdings in GNC Holdings, Inc. (GNC)
Bayesian Capital Management LP bought a new position in shares of GNC Holdings, Inc. (NYSE:GNC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,100 shares of the specialty retailer’s stock, valued at approximately $102,000.
Several other hedge funds have also bought and sold shares of the stock. Voya Investment Management LLC increased its holdings in shares of GNC Holdings by 16.8% during the 2nd quarter. Voya Investment Management LLC now owns 31,822 shares of the specialty retailer’s stock worth $268,000 after acquiring an additional 4,587 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of GNC Holdings by 53.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 683,197 shares of the specialty retailer’s stock worth $5,759,000 after acquiring an additional 236,793 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of GNC Holdings by 20.7% during the 2nd quarter. California Public Employees Retirement System now owns 491,700 shares of the specialty retailer’s stock worth $4,145,000 after acquiring an additional 84,300 shares during the last quarter. Northern Trust Corp increased its holdings in shares of GNC Holdings by 4.6% during the 2nd quarter. Northern Trust Corp now owns 891,636 shares of the specialty retailer’s stock worth $7,517,000 after acquiring an additional 39,378 shares during the last quarter. Finally, Menta Capital LLC acquired a new position in shares of GNC Holdings during the 2nd quarter worth approximately $1,783,000. 65.53% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on GNC. Bank of America Corporation decreased their price objective on GNC Holdings from $6.25 to $5.50 and set an “underperform” rating on the stock in a report on Tuesday, August 22nd. ValuEngine lowered GNC Holdings from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered GNC Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Robert W. Baird reaffirmed a “hold” rating and issued a $10.00 price objective on shares of GNC Holdings in a report on Sunday, September 17th. Finally, BidaskClub raised GNC Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.37.
In other GNC Holdings news, CEO Kenneth Martindale sold 64,555 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $9.28, for a total value of $599,070.40. Following the sale, the chief executive officer now directly owns 455,001 shares in the company, valued at $4,222,409.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.85% of the company’s stock.
GNC Holdings, Inc. (GNC) opened at 8.78 on Thursday. GNC Holdings, Inc. has a one year low of $6.51 and a one year high of $22.32. The firm has a 50-day moving average price of $8.88 and a 200-day moving average price of $8.20. The firm’s market capitalization is $601.15 million.
GNC Holdings (NYSE:GNC) last issued its earnings results on Thursday, July 27th. The specialty retailer reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $640.99 million for the quarter, compared to analyst estimates of $646.48 million. GNC Holdings had a positive return on equity of 285.93% and a negative net margin of 14.56%. The business’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. Analysts expect that GNC Holdings, Inc. will post $1.36 EPS for the current year.
GNC Holdings Profile
GNC Holdings, Inc is a specialty retailer of health, wellness and performance products, which include protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. The Company’s operations consist of purchasing raw materials, formulating and manufacturing products and selling the finished products.
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