M&T Bank Corp Takes Position in GNC Holdings Inc. (GNC)
M&T Bank Corp purchased a new stake in shares of GNC Holdings Inc. (NYSE:GNC) during the third quarter, Holdings Channel reports. The firm purchased 218,673 shares of the company’s stock, valued at approximately $4,466,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. HealthInvest Partners AB raised its stake in shares of GNC Holdings by 16.2% in the second quarter. HealthInvest Partners AB now owns 681,955 shares of the company’s stock valued at $16,565,000 after buying an additional 95,000 shares during the period. Lucus Advisors LLC raised its stake in shares of GNC Holdings by 85.7% in the second quarter. Lucus Advisors LLC now owns 14,138 shares of the company’s stock valued at $343,000 after buying an additional 6,525 shares during the period. Globeflex Capital L P raised its stake in shares of GNC Holdings by 76.7% in the second quarter. Globeflex Capital L P now owns 37,735 shares of the company’s stock valued at $917,000 after buying an additional 16,374 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of GNC Holdings during the first quarter valued at about $440,000. Finally, Emerald Advisers Inc. PA raised its stake in shares of GNC Holdings by 58.0% in the second quarter. Emerald Advisers Inc. PA now owns 94,561 shares of the company’s stock valued at $2,297,000 after buying an additional 34,700 shares during the period. Institutional investors own 80.83% of the company’s stock.
GNC Holdings Inc. (NYSE:GNC) traded down 0.48% during midday trading on Tuesday, hitting $14.45. 1,981,723 shares of the stock were exchanged. The stock has a market cap of $988.37 million, a price-to-earnings ratio of 5.50 and a beta of 0.83. GNC Holdings Inc. has a 12-month low of $12.78 and a 12-month high of $35.90. The firm has a 50 day moving average of $16.61 and a 200-day moving average of $21.37.
GNC Holdings (NYSE:GNC) last released its earnings results on Thursday, October 27th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.12. GNC Holdings had a return on equity of 53.97% and a net margin of 7.35%. The company earned $628 million during the quarter, compared to analyst estimates of $651.33 million. During the same period in the prior year, the business posted $0.76 earnings per share. GNC Holdings’s revenue was down 8.1% on a year-over-year basis. On average, equities analysts expect that GNC Holdings Inc. will post $2.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be given a $0.20 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.80 annualized dividend and a dividend yield of 5.54%. GNC Holdings’s dividend payout ratio is presently 30.30%.
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Several brokerages have recently issued reports on GNC. Vetr lowered shares of GNC Holdings from a “strong-buy” rating to a “buy” rating and set a $17.00 target price on the stock. in a research report on Tuesday, November 22nd. Zacks Investment Research lowered shares of GNC Holdings from a “hold” rating to a “sell” rating in a research report on Monday, October 31st. Deutsche Bank AG dropped their target price on shares of GNC Holdings from $22.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, October 28th. Piper Jaffray Cos. lowered shares of GNC Holdings from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $20.00 to $11.00 in a research report on Friday, October 28th. Finally, Bank of America Corp. lowered shares of GNC Holdings from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research report on Friday, October 28th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.58.
About GNC Holdings
GNC Holdings, Inc is a specialty retailer of health, wellness and performance products, including vitamins, minerals and herbal supplement products (VMHS), sports nutrition products and diet products. The Company operates in three segments: Retail, Franchising and Manufacturing/Wholesale. The Retail segment includes sales of products to customers at its company-owned stores in the United States, Canada, Puerto Rico and Ireland and through its Websites, GNC.com and LuckyVitamin.com.
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