Revlon (REV) Debt Trading 1.3% Lower
An issue of Revlon, Inc. (NYSE:REV) bonds fell 1.3% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 5.75% coupon and will mature on February 15, 2021. The bonds in the issue are now trading at $77.00. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
REV has been the subject of several recent research reports. Zacks Investment Research lowered shares of Revlon from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 15th. ValuEngine lowered shares of Revlon from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Finally, Jefferies Group initiated coverage on shares of Revlon in a research report on Wednesday, September 13th. They set a “hold” rating and a $16.00 target price for the company. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. Revlon presently has an average rating of “Sell” and an average price target of $16.00.
Shares of Revlon, Inc. (REV) traded up $0.15 during trading hours on Friday, reaching $22.25. 81,000 shares of the company’s stock traded hands, compared to its average volume of 217,336. The company has a current ratio of 1.25, a quick ratio of 0.67 and a debt-to-equity ratio of -3.78. Revlon, Inc. has a twelve month low of $15.60 and a twelve month high of $36.80.
Revlon (NYSE:REV) last issued its quarterly earnings results on Friday, November 3rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.51). Revlon had a negative net margin of 5.27% and a negative return on equity of 3.09%. The firm had revenue of $666.50 million for the quarter, compared to analysts’ expectations of $604.50 million. equities research analysts predict that Revlon, Inc. will post -1.96 EPS for the current fiscal year.
In other news, Director Ronald O. Perelman purchased 66,684 shares of the stock in a transaction on Monday, September 25th. The shares were acquired at an average price of $20.03 per share, with a total value of $1,335,680.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald O. Perelman purchased 625,151 shares of the stock in a transaction on Thursday, September 21st. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $10,852,621.36. The disclosure for this purchase can be found here. Insiders have acquired 845,974 shares of company stock worth $15,445,954 in the last ninety days. Insiders own 78.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its holdings in shares of Revlon by 14.8% in the third quarter. California Public Employees Retirement System now owns 87,333 shares of the company’s stock worth $2,144,000 after buying an additional 11,233 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Revlon in the third quarter worth $579,000. Wells Fargo & Company MN lifted its holdings in shares of Revlon by 59.1% in the third quarter. Wells Fargo & Company MN now owns 16,582 shares of the company’s stock worth $408,000 after buying an additional 6,162 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Revlon by 102.7% in the third quarter. Advisor Group Inc. now owns 9,789 shares of the company’s stock worth $240,000 after buying an additional 4,960 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Revlon in the third quarter worth $499,000. 14.55% of the stock is currently owned by hedge funds and other institutional investors.
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Revlon, Inc manufactures, markets and sells around the world a range of beauty and personal care products, including color cosmetics, hair color, hair care and hair treatments, as well as beauty tools, men’s grooming products, anti-perspirant deodorants, fragrances, skincare and other beauty care products.
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