Revlon, Inc. (REV) Debt Trading 1% Higher
An issue of Revlon, Inc. (NYSE:REV) bonds rose 1% against their face value during trading on Wednesday. The high-yield issue of debt has a 6.25% coupon and is set to mature on August 1, 2024. The bonds in the issue are now trading at $57.50 and were trading at $60.94 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
Several brokerages have issued reports on REV. ValuEngine downgraded shares of Revlon from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Jefferies Group LLC began coverage on shares of Revlon in a research note on Wednesday, September 13th. They set a “hold” rating and a $16.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Revlon from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. The company has a consensus rating of “Sell” and an average price target of $16.00.
Revlon, Inc. (REV) opened at $20.90 on Friday. The company has a debt-to-equity ratio of -3.78, a quick ratio of 0.67 and a current ratio of 1.25. Revlon, Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $36.80.
Revlon (NYSE:REV) last posted its quarterly earnings results on Friday, November 3rd. The company reported ($0.38) EPS 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 company had revenue of $666.50 million for the quarter, compared to analysts’ expectations of $604.50 million. equities analysts expect that Revlon, Inc. will post -1.96 earnings per share for the current year.
In related news, Director Ronald O. Perelman purchased 47,355 shares of the stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $22.43 per share, for a total transaction of $1,062,172.65. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald O. Perelman purchased 625,151 shares of the stock in a transaction dated Thursday, September 21st. The shares were bought at an average price of $17.36 per share, for a total transaction of $10,852,621.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 845,974 shares of company stock worth $15,445,954. 78.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. bought a new stake in Revlon in the second quarter worth $114,000. The Manufacturers Life Insurance Company boosted its holdings in Revlon by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 11,024 shares of the company’s stock valued at $261,000 after acquiring an additional 137 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Revlon by 625.7% during the second quarter. Tower Research Capital LLC TRC now owns 12,337 shares of the company’s stock valued at $292,000 after acquiring an additional 10,637 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Revlon by 2.4% during the second quarter. Goldman Sachs Group Inc. now owns 12,379 shares of the company’s stock valued at $293,000 after acquiring an additional 296 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Revlon by 2.1% during the second quarter. Rhumbline Advisers now owns 13,793 shares of the company’s stock valued at $327,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 14.95% 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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