82.7% Stake of Revlon, Inc. (NYSE:REV) Maintained by MACANDREWS & FORBES INC.
MACANDREWS & FORBES INC.
recently stated that they own a 82.7% stake in Revlon, Inc. (NYSE:REV) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, August 9th. The investor owns 43,528,587 shares of the stock valued at approximately $831,396,012. The reporting parties listed on the disclosure included Ronald O Perelman, MacAndrews & Forbes Incorporated, REV Holdings LLC, Mafco Four LLC, MFV Holdings One LLC, RCH Holdings One Inc, SGMS Acquisition Two LLC, DBX Holdings One LLC, NDX Holdings One LLC, MacAndrews & Forbes Group, LLC, SGMS Acquisition Three LLC, Perelman Trust Company, LLC, RLX Holdings One LLC, RLX Holdings Two LLC, RLX Holdings Three LLC and RLX Holdings Four LLC. The disclosure is available through EDGAR at this link.
MACANDREWS & FORBES INC.
provided the following explanation of their ownership:
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Several other hedge funds also recently added to or reduced their stakes in the stock. K.J. Harrison & Partners Inc raised its stake in shares of Revlon by 5.4% in the second quarter. K.J. Harrison & Partners Inc now owns 100,300 shares of the company’s stock worth $2,377,000 after buying an additional 5,124 shares during the period. Pioneer Investment Management Inc. purchased a new stake in Revlon during the second quarter valued at about $1,186,000. Schwab Charles Investment Management Inc. raised its stake in Revlon by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 61,610 shares of the company’s stock valued at $1,461,000 after buying an additional 745 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Revlon by 2.1% in the second quarter. Rhumbline Advisers now owns 13,793 shares of the company’s stock valued at $327,000 after buying an additional 280 shares during the last quarter. Institutional investors own 19.18% of the company’s stock.
Revlon, Inc. (NYSE:REV) traded down 0.78% during midday trading on Wednesday, reaching $19.10. 648,753 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $21.87 and its 200-day moving average price is $25.98. Revlon, Inc. has a one year low of $15.60 and a one year high of $37.96. The stock’s market cap is $1.00 billion.
Revlon (NYSE:REV) last released its quarterly earnings data on Friday, August 4th. The company reported ($0.46) earnings per share (EPS) for the quarter. Revlon had a negative return on equity of 3.09% and a negative net margin of 4.35%. The firm had revenue of $645.70 million during the quarter. Equities analysts predict that Revlon, Inc. will post $1.80 earnings per share for the current year.
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Separately, BidaskClub upgraded shares of Revlon from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th.
In other news, Director Ronald O. Perelman acquired 347,028 shares of Revlon stock in a transaction on Monday, June 12th. The shares were acquired at an average price of $19.59 per share, with a total value of $6,798,278.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald O. Perelman acquired 150,210 shares of Revlon stock in a transaction on Friday, June 23rd. The stock was purchased at an average cost of $23.11 per share, for a total transaction of $3,471,353.10. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,730,438 shares of company stock worth $35,995,570. Corporate insiders own 78.00% of the company’s stock.
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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