Balyasny Asset Management LLC increased its stake in GNC Holdings, Inc. (NYSE:GNC) by 237.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,000 shares of the specialty retailer’s stock after purchasing an additional 184,353 shares during the period. Balyasny Asset Management LLC owned 0.38% of GNC Holdings worth $2,209,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new stake in GNC Holdings in the 2nd quarter worth approximately $102,000. Karp Capital Management Corp acquired a new stake in GNC Holdings in the 1st quarter worth approximately $113,000. Stonebridge Capital Management Inc. acquired a new stake in GNC Holdings in the 2nd quarter worth approximately $128,000. Sii Investments Inc. WI acquired a new stake in GNC Holdings in the 1st quarter worth approximately $140,000. Finally, Comerica Bank acquired a new stake in GNC Holdings in the 1st quarter worth approximately $167,000. Institutional investors own 65.54% of the company’s stock.
In other news, CEO Kenneth Martindale sold 64,555 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $9.28, for a total transaction of $599,070.40. Following the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.85% of the company’s stock.
Shares of GNC Holdings, Inc. (GNC) opened at 8.01 on Thursday. The firm’s 50-day moving average is $8.74 and its 200 day moving average is $8.24. GNC Holdings, Inc. has a 52 week low of $6.51 and a 52 week high of $22.32. The firm’s market capitalization is $548.43 million.
GNC Holdings (NYSE:GNC) last announced its quarterly earnings results on Thursday, July 27th. The specialty retailer reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $640.99 million for the quarter, compared to analyst estimates of $646.48 million. GNC Holdings had a negative net margin of 14.56% and a positive return on equity of 285.93%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, equities analysts forecast that GNC Holdings, Inc. will post $1.36 earnings per share for the current year.
A number of research firms recently commented on GNC. ValuEngine upgraded shares of GNC Holdings from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Barclays PLC lifted their target price on shares of GNC Holdings from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, July 28th. Bank of America Corporation lowered their target price on shares of GNC Holdings from $6.25 to $5.50 and set an “underperform” rating for the company in a research note on Tuesday, August 22nd. BidaskClub upgraded shares of GNC Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of GNC Holdings from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Five analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.37.
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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