Regis Corp. (NYSE:RGS) shares fell 2.9% during trading on Friday . The company traded as low as $12.87 and last traded at $12.87, with a volume of 88,743 shares trading hands. The stock had previously closed at $13.26.

Separately, Piper Jaffray Cos. lowered shares of Regis Corp. from a “neutral” rating to an “underweight” rating in a research note on Thursday, May 19th.

The firm’s market capitalization is $588.29 million. The firm has a 50 day moving average price of $13.37 and a 200 day moving average price of $13.82.

Regis Corp. (NYSE:RGS) last issued its earnings results on Tuesday, August 23rd. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13. The business had revenue of $47.70 million for the quarter, compared to analyst estimates of $456.17 million. During the same quarter last year, the firm posted $0.01 earnings per share. Regis Corp.’s revenue was down 3.3% on a year-over-year basis. On average, equities analysts predict that Regis Corp. will post $0.08 EPS for the current fiscal year.

An institutional investor recently raised its position in Regis Corp. stock. California Public Employees Retirement System raised its stake in shares of Regis Corp. (NYSE:RGS) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,483 shares of the company’s stock after buying an additional 37,500 shares during the period. California Public Employees Retirement System owned about 0.45% of Regis Corp. worth $3,035,000 as of its most recent filing with the SEC.

Regis Corporation owns, franchises and operates beauty salons. The Company operates in three segments: North American Value, North American Premium and International. As of June 30, 2015, the Company owned, franchised or held ownership interests in 9,556 locations around the world. The Company’s locations consist of around 9,300 company-owned and franchised salons and around 200 locations in which it maintains a non-controlling ownership interest.

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