Assenagon Asset Management S.A. bought a new stake in Herbalife Nutrition Ltd (NYSE:HLF) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 29,329 shares of the company’s stock, valued at approximately $1,600,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zacks Investment Management purchased a new position in Herbalife Nutrition during the 2nd quarter valued at about $1,753,000. Teacher Retirement System of Texas increased its holdings in Herbalife Nutrition by 71.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,198 shares of the company’s stock valued at $1,246,000 after purchasing an additional 9,702 shares during the period. NorthCoast Asset Management LLC purchased a new position in Herbalife Nutrition during the 2nd quarter valued at about $21,267,000. Kiwi Wealth Investments Limited Partnership increased its holdings in Herbalife Nutrition by 76.2% during the 2nd quarter. Kiwi Wealth Investments Limited Partnership now owns 30,516 shares of the company’s stock valued at $1,639,000 after purchasing an additional 13,196 shares during the period. Finally, Jennison Associates LLC purchased a new position in Herbalife Nutrition during the 2nd quarter valued at about $1,870,000. 88.28% of the stock is owned by institutional investors.
In other Herbalife Nutrition news, COO David Pezzullo sold 33,070 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $55.64, for a total transaction of $1,840,014.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.19% of the stock is currently owned by corporate insiders.
Herbalife Nutrition (NYSE:HLF) last posted its earnings results on Tuesday, October 30th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts forecast that Herbalife Nutrition Ltd will post 2.85 earnings per share for the current year.
A number of research analysts recently issued reports on HLF shares. Pivotal Research restated a “buy” rating and set a $62.00 price target (down previously from $75.00) on shares of Herbalife Nutrition in a report on Wednesday, October 31st. Jefferies Financial Group restated a “buy” rating and set a $65.00 price target on shares of Herbalife Nutrition in a report on Thursday, November 1st. Royal Bank of Canada restated a “hold” rating and set a $7.00 price target on shares of Herbalife Nutrition in a report on Friday. Zacks Investment Research upgraded Herbalife Nutrition from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, August 3rd. Finally, ValuEngine upgraded Herbalife Nutrition from a “hold” rating to a “buy” rating in a report on Tuesday, October 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.66.
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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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