Sessa Capital IM L.P. lessened its holdings in shares of GNC Holdings, Inc. (NYSE:GNC) by 68.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the specialty retailer’s stock after selling 1,100,000 shares during the period. GNC accounts for approximately 0.5% of Sessa Capital IM L.P.’s holdings, making the stock its 23rd biggest position. Sessa Capital IM L.P. owned 0.72% of GNC worth $4,420,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Bayesian Capital Management LP bought a new stake in shares of GNC during the 2nd quarter valued at $102,000. Quantitative Systematic Strategies LLC bought a new stake in shares of GNC during the 3rd quarter valued at $109,000. WFG Advisors LP boosted its holdings in shares of GNC by 13.1% during the 2nd quarter. WFG Advisors LP now owns 14,773 shares of the specialty retailer’s stock valued at $125,000 after buying an additional 1,715 shares in the last quarter. Sii Investments Inc. WI raised its position in shares of GNC by 22.5% in the 2nd quarter. Sii Investments Inc. WI now owns 23,268 shares of the specialty retailer’s stock worth $196,000 after purchasing an additional 4,268 shares during the last quarter. Finally, Comerica Bank raised its position in shares of GNC by 6.7% in the 2nd quarter. Comerica Bank now owns 22,443 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 1,419 shares during the last quarter. Hedge funds and other institutional investors own 61.93% of the company’s stock.
In other GNC news, CEO Kenneth Martindale sold 64,555 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $9.28, for a total value of $599,070.40. Following the completion of the transaction, the chief executive officer now owns 455,001 shares of the company’s stock, valued at approximately $4,222,409.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tim Mantel bought 20,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was acquired at an average cost of $5.80 per share, with a total value of $116,000.00. The disclosure for this purchase can be found here. 1.85% of the stock is currently owned by insiders.
Several research firms have recently issued reports on GNC. Barclays lowered their price target on GNC from $9.00 to $6.00 and set an “underweight” rating for the company in a research report on Friday, October 27th. ValuEngine raised GNC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $10.00 price target on shares of GNC in a research report on Sunday, September 17th. Zacks Investment Research lowered GNC from a “hold” rating to a “strong sell” rating in a research report on Friday, October 27th. Finally, Bank of America lowered their price target on GNC from $6.25 to $5.50 and set an “underperform” rating for the company in a research report on Tuesday, August 22nd. Six analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.95.
Shares of GNC Holdings, Inc. (NYSE:GNC) traded up $0.16 during trading hours on Monday, reaching $5.27. The company’s stock had a trading volume of 2,738,300 shares, compared to its average volume of 3,120,652. GNC Holdings, Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $14.58. The company has a current ratio of 2.44, a quick ratio of 0.70 and a debt-to-equity ratio of -55.95. The stock has a market cap of $363.65, a price-to-earnings ratio of 4.50 and a beta of 0.78.
GNC (NYSE:GNC) last issued its earnings results on Thursday, October 26th. The specialty retailer reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). GNC had a negative return on equity of 133.37% and a negative net margin of 15.11%. The business had revenue of $609.47 million during the quarter, compared to analysts’ expectations of $614.08 million. During the same period last year, the firm posted $0.59 EPS. GNC’s quarterly revenue was down 2.9% compared to the same quarter last year. sell-side analysts anticipate that GNC Holdings, Inc. will post 1.28 EPS for the current year.
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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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