Revlon, Inc. (NYSE:REV) Bonds Trading 2.5% Higher
An issue of Revlon, Inc. (NYSE:REV) debt rose 2.5% against its face value during trading on Wednesday. The debt issue has a 6.25% coupon and will mature on August 1, 2024. The bonds in the issue are now trading at $81.00 and were trading at $77.00 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
Separately, BidaskClub downgraded shares of Revlon from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th.
Revlon, Inc. (REV) traded down 0.78% during midday trading on Wednesday, reaching $19.10. 648,878 shares of the company’s stock traded hands. The company’s 50-day moving average price is $21.87 and its 200 day moving average price is $25.98. Revlon, Inc. has a 52 week low of $15.60 and a 52 week high of $37.96. The stock’s market capitalization is $1.00 billion.
Revlon (NYSE:REV) last announced its quarterly earnings results on Friday, August 4th. The company reported ($0.46) EPS for the quarter. Revlon had a negative net margin of 4.35% and a negative return on equity of 3.09%. The company had revenue of $645.70 million for the quarter. On average, equities research analysts expect that Revlon, Inc. will post $1.80 earnings per share for the current year.
In related news, Director Ronald O. Perelman purchased 100,000 shares of the stock in a transaction on Friday, May 12th. The shares were bought at an average price of $20.00 per share, for a total transaction of $2,000,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald O. Perelman purchased 419,127 shares of the stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $18.55 per share, for a total transaction of $7,774,805.85. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 2,149,565 shares of company stock worth $43,770,375. Corporate insiders own 78.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in REV. Rhumbline Advisers increased its position in shares of 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 period. Pioneer Investment Management Inc. bought a new position in shares of Revlon during the second quarter valued at approximately $1,186,000. Schwab Charles Investment Management Inc. increased its position in shares of 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 period. Finally, K.J. Harrison & Partners Inc increased its position 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 valued at $2,377,000 after buying an additional 5,124 shares during the period. Institutional investors own 19.18% of the company’s stock.
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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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