Revlon (REV) Bonds Trading 1.5% Lower
An issue of Revlon, Inc. (NYSE:REV) bonds fell 1.5% against their face value during trading on Thursday. The high-yield debt issue has a 6.25% coupon and is set to mature on August 1, 2024. The bonds in the issue are now trading at $60.75 and were trading at $63.00 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Revlon from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 15th. ValuEngine cut shares of Revlon from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Finally, Jefferies Group assumed coverage on shares of Revlon in a research note on Wednesday, September 13th. They set a “hold” rating and a $16.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Revlon has an average rating of “Sell” and an average price target of $16.00.
Shares of Revlon, Inc. (NYSE:REV) traded up $0.85 during trading on Friday, reaching $23.10. 190,481 shares of the company’s stock traded hands, compared to its average volume of 89,221. The company has a current ratio of 1.25, a quick ratio of 0.67 and a debt-to-equity ratio of -3.78. Revlon, Inc. has a 1 year low of $15.60 and a 1 year high of $36.80.
In related news, Director Ronald O. Perelman purchased 625,151 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were acquired at an average cost of $17.36 per share, with a total value of $10,852,621.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald O. Perelman purchased 106,784 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were bought at an average cost of $20.56 per share, for a total transaction of $2,195,479.04. The disclosure for this purchase can be found here. Insiders have bought 845,974 shares of company stock worth $15,445,954 over the last three months. 78.00% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Mittleman Brothers LLC boosted its stake in Revlon by 1.0% in the second quarter. Mittleman Brothers LLC now owns 2,304,282 shares of the company’s stock valued at $54,611,000 after acquiring an additional 22,111 shares during the last quarter. Royal Bank of Canada boosted its stake in Revlon by 270.8% in the second quarter. Royal Bank of Canada now owns 15,401 shares of the company’s stock valued at $365,000 after acquiring an additional 11,247 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Revlon by 90.5% in the second quarter. Alliancebernstein L.P. now owns 18,100 shares of the company’s stock valued at $429,000 after acquiring an additional 8,600 shares during the last quarter. OxFORD Asset Management LLP bought a new position in Revlon in the second quarter valued at approximately $741,000. Finally, Profit Investment Management LLC boosted its stake in Revlon by 170.8% in the third quarter. Profit Investment Management LLC now owns 105,996 shares of the company’s stock valued at $2,602,000 after acquiring an additional 66,848 shares during the last quarter. 14.55% of the stock is currently owned by hedge funds and other institutional investors.
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Revlon Company Profile
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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