TIG Advisors LLC Buys Shares of 5,928,565 Avon Products, Inc. (NYSE:AVP)
TIG Advisors LLC bought a new stake in Avon Products, Inc. (NYSE:AVP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,928,565 shares of the company’s stock, valued at approximately $23,003,000. Avon Products makes up 1.0% of TIG Advisors LLC’s portfolio, making the stock its 18th largest holding. TIG Advisors LLC owned about 1.34% of Avon Products as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVP. Dynamo Internacional Gestao DE Recursos LTDA. bought a new stake in Avon Products in the 2nd quarter valued at approximately $139,892,000. Alpine Associates Management Inc. bought a new stake in Avon Products in the 2nd quarter valued at approximately $18,590,000. JGP Global Gestao de Recursos Ltda. bought a new stake in Avon Products in the 2nd quarter valued at approximately $10,476,000. SPX Equities Gestao de Recursos Ltda bought a new stake in Avon Products in the 2nd quarter valued at approximately $8,340,000. Finally, Morgan Stanley increased its position in shares of Avon Products by 68.3% during the 2nd quarter. Morgan Stanley now owns 4,088,828 shares of the company’s stock worth $15,866,000 after purchasing an additional 1,659,482 shares during the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.
Shares of NYSE:AVP traded down $0.06 during trading on Friday, hitting $4.67. 78,754 shares of the company were exchanged, compared to its average volume of 7,064,503. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 155.83, a P/E/G ratio of 3.19 and a beta of 1.74. Avon Products, Inc. has a fifty-two week low of $1.30 and a fifty-two week high of $4.88. The firm has a fifty day moving average price of $4.28 and a two-hundred day moving average price of $3.60.
AVP has been the topic of several recent analyst reports. DA Davidson lowered Avon Products from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $4.75 to $3.60 in a research report on Thursday, May 23rd. ValuEngine raised Avon Products from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Barclays reaffirmed a “hold” rating and set a $4.00 price target on shares of Avon Products in a research report on Sunday, August 4th. Finally, Citigroup lowered Avon Products from a “buy” rating to a “neutral” rating and set a $4.01 price target on the stock. in a research report on Friday, June 21st. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $3.72.
In related news, VP Laura Barbrook sold 15,261 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $4.21, for a total transaction of $64,248.81. Following the transaction, the vice president now directly owns 15,261 shares of the company’s stock, valued at approximately $64,248.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.95% of the stock is currently owned by insiders.
Avon Products Profile
Avon Products, Inc manufactures and markets beauty and related products in Europe, the Middle East, Africa, south Latin America, north Latin America, and the Asia Pacific. The company offers beauty products, including skincare, fragrance, and color cosmetics; and fashion and home products, such as fashion jewelry, watches, apparel, footwear, accessories, gift and decorative products, housewares, entertainment and leisure products, children's products, and nutritional products.
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