Shares of GNC Holdings Inc (NYSE:GNC) fell 19.2% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.20 and last traded at $3.41. 4,323,450 shares traded hands during mid-day trading, an increase of 49% from the average session volume of 2,908,571 shares. The stock had previously closed at $4.22.

The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). GNC had a negative return on equity of 33.58% and a negative net margin of 8.42%. The business had revenue of $580.00 million during the quarter, compared to the consensus estimate of $580.45 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year.

A number of research firms recently issued reports on GNC. Zacks Investment Research upgraded GNC from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Buckingham Research initiated coverage on GNC in a research report on Monday, October 29th. They set a “buy” rating and a $6.00 price target for the company. Finally, Barclays reissued a “sell” rating and set a $3.00 price target on shares of GNC in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $4.50.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNC. Allianz Asset Management GmbH lifted its position in shares of GNC by 33.7% in the first quarter. Allianz Asset Management GmbH now owns 141,492 shares of the specialty retailer’s stock valued at $546,000 after buying an additional 35,675 shares during the last quarter. Hartford Investment Management Co. acquired a new stake in shares of GNC in the second quarter valued at approximately $176,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of GNC by 39.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,619,594 shares of the specialty retailer’s stock valued at $9,221,000 after buying an additional 745,471 shares during the last quarter. Price Capital Management Inc. acquired a new stake in shares of GNC in the second quarter valued at approximately $607,000. Finally, Bank of New York Mellon Corp lifted its position in shares of GNC by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 345,561 shares of the specialty retailer’s stock valued at $1,217,000 after buying an additional 24,656 shares during the last quarter. 47.10% of the stock is owned by institutional investors.

The stock has a market cap of $354.01 million, a PE ratio of 2.41 and a beta of 0.54.

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GNC Company Profile (NYSE:GNC)

GNC Holdings, Inc, together with its subsidiaries, operates as a specialty retailer of health, wellness, and performance products. It operates through three segments: U.S. and Canada, International, and Manufacturing/Wholesale. Its products include protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink, and other general merchandise.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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