Cumberland Partners Ltd Has $4,311,000 Position in Elizabeth Arden Inc. (RDEN)
Cumberland Partners Ltd lowered its position in shares of Elizabeth Arden Inc. (NASDAQ:RDEN) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,288 shares of the company’s stock after selling 32,000 shares during the period. Cumberland Partners Ltd’s holdings in Elizabeth Arden were worth $4,311,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sphinx Trading LP purchased a new stake in shares of Elizabeth Arden during the second quarter worth about $110,000. BlackRock Group LTD boosted its stake in shares of Elizabeth Arden by 15.5% in the first quarter. BlackRock Group LTD now owns 22,900 shares of the company’s stock worth $188,000 after buying an additional 3,065 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Elizabeth Arden during the first quarter worth about $211,000. Spark Investment Management LLC purchased a new stake in shares of Elizabeth Arden during the first quarter worth about $217,000. Finally, Continental Advisors LLC boosted its stake in shares of Elizabeth Arden by 14.5% in the first quarter. Continental Advisors LLC now owns 67,064 shares of the company’s stock worth $549,000 after buying an additional 8,500 shares during the last quarter. 70.70% of the stock is owned by institutional investors.
Elizabeth Arden Inc. (NASDAQ:RDEN) remained flat at $13.98 during trading on Thursday. Elizabeth Arden Inc. has a 12-month low of $5.02 and a 12-month high of $14.14. The company has a 50-day moving average price of $13.93 and a 200-day moving average price of $10.50.
Elizabeth Arden (NASDAQ:RDEN) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.20. The firm earned $192.70 million during the quarter, compared to the consensus estimate of $193.75 million. Elizabeth Arden had a negative return on equity of 38.72% and a negative net margin of 7.43%. On average, equities analysts forecast that Elizabeth Arden Inc. will post ($0.49) earnings per share for the current year.
RDEN has been the subject of a number of research reports. Zacks Investment Research upgraded Elizabeth Arden from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Wednesday, July 6th. B. Riley reiterated a “neutral” rating and set a $14.00 target price on shares of Elizabeth Arden in a report on Tuesday. Finally, Imperial Capital restated an “outperform” rating and issued a $14.00 price target on shares of Elizabeth Arden in a report on Wednesday, June 8th.
Elizabeth Arden Company Profile
Elizabeth Arden, Inc is a global beauty products company with a portfolio of fragrance, skin care and cosmetics brands. The Company’s product portfolio includes Elizabeth Arden Brand, such as the Elizabeth Arden skin care brands (Visible Difference, Ceramide, Prevage, Eight Hour Cream, Superstart and Elizabeth Arden Pro), Elizabeth Arden branded lipstick, foundation and other color cosmetics products and Elizabeth Arden fragrances (Red Door, 5th Avenue, Elizabeth Arden Green Tea and UNTOLD); designer fragrances, which include Juicy Couture, John Varvatos, and Wildfox Couture; Heritage Fragrances, such as Curve, Elizabeth Taylor, Britney Spears, Halston, Ed Hardy, Geoffrey Beene, Alfred Sung, Giorgio Beverly Hills, Lucky, PS Fine Cologne, White Shoulders, BCBGMAXAZRIA, Rocawear and Jennifer Aniston, and celebrity fragrances, which include the fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift.
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