Revlon (REV) Bonds Drop 2% During Trading
An issue of Revlon Inc (NYSE:REV) debt fell 2% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 5.75% coupon and will mature on February 15, 2021. The bonds in the issue are now trading at $80.50 and were trading at $84.88 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.
REV has been the subject of several research analyst reports. ValuEngine upgraded Revlon from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research upgraded Revlon from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 price objective on shares of Revlon in a research report on Friday, August 10th.
Shares of REV traded up $0.80 on Thursday, hitting $22.05. The company’s stock had a trading volume of 99,900 shares, compared to its average volume of 125,048. The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.53 and a current ratio of 1.01. Revlon Inc has a fifty-two week low of $14.00 and a fifty-two week high of $27.90. The firm has a market capitalization of $1.12 billion, a PE ratio of -11.48 and a beta of 0.38.
In other news, Director Ronald O. Perelman bought 138,943 shares of the business’s stock in a transaction on Friday, August 10th. The shares were purchased at an average price of $16.34 per share, for a total transaction of $2,270,328.62. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald O. Perelman bought 35,000 shares of the business’s stock in a transaction on Tuesday, September 25th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $752,500.00. The disclosure for this purchase can be found here. Insiders acquired a total of 428,943 shares of company stock worth $7,888,729 in the last 90 days. Company insiders own 85.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its stake in Revlon by 104.7% in the 1st quarter. Allianz Asset Management GmbH now owns 13,464 shares of the company’s stock valued at $277,000 after acquiring an additional 300,000 shares in the last quarter. Paloma Partners Management Co bought a new stake in Revlon in the 2nd quarter valued at approximately $295,000. Russell Investments Group Ltd. bought a new stake in Revlon in the 2nd quarter valued at approximately $300,000. Bank of America Corp DE lifted its stake in Revlon by 400.7% in the 2nd quarter. Bank of America Corp DE now owns 21,425 shares of the company’s stock valued at $376,000 after acquiring an additional 17,146 shares in the last quarter. Finally, AMS Capital Ltda bought a new stake in Revlon in the 2nd quarter valued at approximately $956,000. Hedge funds and other institutional investors own 14.84% of the company’s stock.
Revlon Company Profile (NYSE:REV)
Revlon, Inc, through its subsidiaries, manufactures, markets, distributes, and sells beauty and personal care products worldwide. The company's Consumer segment offers cosmetics under the Revlon, Almay, SinfulColors, and Pure Ice brands; women's hair color products under the Revlon ColorSilk brand; beauty tools under the Revlon brand; nail care products under the Cutex brand; and anti-perspirant deodorants under the Mitchum name, as well as skin care line under the Natural Honey brand and hair color line under the Llongueras brand.
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