Nine Chapters Capital Management LLC Acquires Shares of 15,800 HD Supply Holdings, Inc. (HDS)
Nine Chapters Capital Management LLC acquired a new position in shares of HD Supply Holdings, Inc. (NASDAQ:HDS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,800 shares of the industrial products company’s stock, valued at approximately $570,000. HD Supply Holdings comprises approximately 1.3% of Nine Chapters Capital Management LLC’s portfolio, making the stock its 19th biggest holding.
Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Planning raised its position in shares of HD Supply Holdings by 15.2% during the second quarter. Creative Planning now owns 3,800 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 500 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of HD Supply Holdings during the second quarter worth about $129,000. Barrett Asset Management LLC bought a new position in shares of HD Supply Holdings during the second quarter worth about $161,000. Pinebridge Investments L.P. raised its position in shares of HD Supply Holdings by 170.0% during the second quarter. Pinebridge Investments L.P. now owns 5,400 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of HD Supply Holdings during the second quarter worth about $181,000.
HDS has been the subject of a number of analyst reports. Credit Suisse Group downgraded HD Supply Holdings from an “outperform” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Friday, September 8th. J P Morgan Chase & Co raised HD Supply Holdings from a “neutral” rating to an “overweight” rating and set a $36.00 target price for the company in a research note on Friday, July 14th. Royal Bank Of Canada raised their target price on HD Supply Holdings from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 30th. Zacks Investment Research cut HD Supply Holdings from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub raised HD Supply Holdings from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $38.71.
HD Supply Holdings (NASDAQ:HDS) last released its quarterly earnings results on Wednesday, September 6th. The industrial products company reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. HD Supply Holdings had a return on equity of 49.76% and a net margin of 9.31%. HD Supply Holdings’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS.
HD Supply Holdings declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 29th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
HD Supply Holdings Profile
HD Supply Holdings, Inc is an industrial distributor in North America. The Company’s segments include Facilities Maintenance, 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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