Summit Securities Group LLC raised its stake in shares of HD Supply Holdings, Inc. (NASDAQ:HDS) by 312.0% during the second quarter, Holdings Channel reports. The institutional investor owned 48,439 shares of the industrial products company’s stock after buying an additional 36,683 shares during the period. Summit Securities Group LLC’s holdings in HD Supply Holdings were worth $1,484,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. boosted its stake in shares of HD Supply Holdings by 29.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 101,229 shares of the industrial products company’s stock valued at $4,163,000 after buying an additional 23,119 shares in the last quarter. Inverness Counsel LLC NY acquired a new stake in shares of HD Supply Holdings during the first quarter valued at about $18,021,000. Parametrica Management Ltd acquired a new stake in shares of HD Supply Holdings during the first quarter valued at about $414,000. Mountain Pacific Investment Advisers Inc. ID boosted its stake in shares of HD Supply Holdings by 7.1% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 338,948 shares of the industrial products company’s stock valued at $13,939,000 after buying an additional 22,578 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of HD Supply Holdings during the first quarter valued at about $1,002,000. 97.60% of the stock is owned by institutional investors.

HD Supply Holdings, Inc. (NASDAQ HDS) opened at 30.06 on Friday. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 20.67 and a beta of 1.41. The stock has a 50 day moving average of $31.19 and a 200 day moving average of $38.07. HD Supply Holdings, Inc. has a one year low of $28.97 and a one year high of $44.73.

HD Supply Holdings (NASDAQ:HDS) last issued its quarterly earnings results on Tuesday, June 6th. The industrial products company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. HD Supply Holdings had a return on equity of 58.13% and a net margin of 3.92%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. Analysts forecast that HD Supply Holdings, Inc. will post $2.10 earnings per share for the current year.

HD Supply Holdings announced that its board has initiated a stock buyback program on Tuesday, June 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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Several analysts recently issued reports on HDS shares. UBS AG raised shares of HD Supply Holdings to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, April 19th. Raymond James Financial, Inc. raised shares of HD Supply Holdings from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Friday, April 21st. Robert W. Baird cut shares of HD Supply Holdings from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $47.00 to $37.00 in a research note on Wednesday, June 7th. Drexel Hamilton cut shares of HD Supply Holdings from a “buy” rating to a “hold” rating and dropped their price objective for the company from $50.00 to $37.00 in a research note on Wednesday, June 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $39.00 price objective (down previously from $53.00) on shares of HD Supply Holdings in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.64.

HD Supply Holdings Company Profile

HD Supply Holdings, Inc is an industrial distributor in North America. The Company’s segments include Facilities Maintenance, Waterworks, Construction & Industrial-White Cap, and Corporate. As of January 29, 2017, the Company operated through approximately 500 locations across 48 states in the United States and six Canadian provinces.

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Institutional Ownership by Quarter for HD Supply Holdings (NASDAQ:HDS)

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