First Trust Advisors LP Sells 320,235 Shares of GNC Holdings, Inc. (GNC)
First Trust Advisors LP cut its holdings in shares of GNC Holdings, Inc. (NYSE:GNC) by 95.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,285 shares of the specialty retailer’s stock after selling 320,235 shares during the period. First Trust Advisors LP’s holdings in GNC Holdings were worth $129,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Sessa Capital IM L.P. bought a new stake in GNC Holdings during the 1st quarter worth approximately $9,186,000. Tairen Capital Ltd acquired a new position in GNC Holdings in the 1st quarter valued at approximately $6,347,000. State Street Corp increased its position in GNC Holdings by 33.9% in the 1st quarter. State Street Corp now owns 2,251,317 shares of the specialty retailer’s stock valued at $16,571,000 after acquiring an additional 569,799 shares during the period. Shah Capital Management increased its position in GNC Holdings by 64.6% in the 2nd quarter. Shah Capital Management now owns 1,096,155 shares of the specialty retailer’s stock valued at $9,240,000 after acquiring an additional 430,316 shares during the period. Finally, Geode Capital Management LLC increased its position in GNC Holdings by 29.8% in the 1st quarter. Geode Capital Management LLC now owns 1,497,030 shares of the specialty retailer’s stock valued at $11,017,000 after acquiring an additional 343,534 shares during the period. Institutional investors and hedge funds own 65.53% of the company’s stock.
In other GNC Holdings news, CEO Kenneth Martindale sold 64,555 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $9.28, for a total value of $599,070.40. Following the completion of the sale, the chief executive officer now owns 455,001 shares in the company, valued at $4,222,409.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by insiders.
Several research firms have recently issued reports on GNC. Zacks Investment Research raised shares of GNC Holdings from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Tuesday, June 20th. BidaskClub cut shares of GNC Holdings from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. ValuEngine cut shares of GNC Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Barclays PLC increased their price objective on GNC Holdings from $7.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, July 28th. Finally, Bank of America Corporation decreased their price objective on GNC Holdings from $6.25 to $5.50 and set an “underperform” rating for the company in a report on Tuesday, August 22nd. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. GNC Holdings has a consensus rating of “Hold” and a consensus target price of $8.39.
GNC Holdings, Inc. (NYSE GNC) opened at 8.84 on Monday. The company’s market cap is $605.26 million. GNC Holdings, Inc. has a 52 week low of $6.51 and a 52 week high of $22.32. The company’s 50-day moving average is $9.08 and its 200-day moving average is $8.07.
GNC Holdings (NYSE:GNC) last issued its earnings results on Thursday, July 27th. The specialty retailer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. GNC Holdings had a positive return on equity of 285.93% and a negative net margin of 14.56%. The company had revenue of $640.99 million during the quarter, compared to analysts’ expectations of $646.48 million. During the same period in the prior year, the business posted $0.79 EPS. GNC Holdings’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, analysts anticipate that GNC Holdings, Inc. will post $1.36 EPS for the current fiscal year.
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GNC Holdings Profile
GNC Holdings, Inc is a specialty retailer of health, wellness and performance products, which include protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. The Company’s operations consist of purchasing raw materials, formulating and manufacturing products and selling the finished products.
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