Herbalife Nutrition Ltd (HLF) Shares Sold by Serengeti Asset Management LP

Serengeti Asset Management LP trimmed its holdings in shares of Herbalife Nutrition Ltd (NYSE:HLF) by 38.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,000 shares of the company’s stock after selling 50,000 shares during the quarter. Herbalife Nutrition accounts for about 0.7% of Serengeti Asset Management LP’s holdings, making the stock its 15th largest position. Serengeti Asset Management LP’s holdings in Herbalife Nutrition were worth $4,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd increased its position in shares of Herbalife Nutrition by 315.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,129 shares of the company’s stock valued at $116,000 after acquiring an additional 1,617 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of Herbalife Nutrition during the third quarter valued at approximately $139,000. Point72 Hong Kong Ltd increased its position in shares of Herbalife Nutrition by 1,979.1% during the second quarter. Point72 Hong Kong Ltd now owns 2,890 shares of the company’s stock valued at $155,000 after acquiring an additional 2,751 shares during the last quarter. Whittier Trust Co. increased its position in shares of Herbalife Nutrition by 100.0% during the second quarter. Whittier Trust Co. now owns 2,900 shares of the company’s stock valued at $156,000 after acquiring an additional 1,450 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Herbalife Nutrition by 115.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,259 shares of the company’s stock valued at $176,000 after acquiring an additional 1,744 shares during the last quarter. 88.28% of the stock is owned by institutional investors.

NYSE:HLF opened at $55.20 on Thursday. Herbalife Nutrition Ltd has a 1 year low of $32.13 and a 1 year high of $60.41. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.11 and a beta of 0.73.

Herbalife Nutrition (NYSE:HLF) last released its earnings results on Tuesday, October 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.07. Herbalife Nutrition had a negative return on equity of 82.17% and a net margin of 3.84%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts predict that Herbalife Nutrition Ltd will post 2.85 EPS for the current fiscal year.

In other Herbalife Nutrition news, COO David Pezzullo sold 33,070 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $55.64, for a total value of $1,840,014.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.19% of the company’s stock.

A number of analysts recently commented on HLF shares. Jefferies Financial Group started coverage on Herbalife Nutrition in a research report on Thursday, October 11th. They set a “buy” rating and a $65.00 price target for the company. Zacks Investment Research raised Herbalife Nutrition from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, August 3rd. Pivotal Research reaffirmed a “buy” rating and set a $75.00 price target on shares of Herbalife Nutrition in a research report on Thursday, August 2nd. Finally, ValuEngine raised Herbalife Nutrition from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $58.75.

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About Herbalife Nutrition

Herbalife Nutrition Ltd. develops and sells nutrition solutions in North America, Mexico, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It provides science-based products in the areas of weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition.

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Institutional Ownership by Quarter for Herbalife Nutrition (NYSE:HLF)

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