MACANDREWS & FORBES INC.
recently stated that they own a 83.3% stake in Revlon, Inc. (NYSE:REV) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, September 18th. The investor owns 43,809,155 shares of the stock valued at about $700,946,480. The reporting parties listed on the disclosure included Ronald O Perelman, MacAndrews & Forbes Incorporated, REV Holdings LLC, Mafco Four LLC, MFV Holdings One LLC, RCH Holdings One Inc, SGMS Acquisition Two LLC, DBX Holdings One LLC, NDX Holdings One LLC, MacAndrews & Forbes Group, LLC, SGMS Acquisition Three LLC, Perelman Trust Company, LLC, RLX Holdings One LLC, RLX Holdings Two LLC, RLX Holdings Three LLC and RLX Holdings Four LLC. The filing is available through Edgar at this hyperlink.
MACANDREWS & FORBES INC.
provided the following explanation of their ownership:
The information contained in Item 4 of the Schedule 13D is hereby amended and supplemented with the following information:
On September 15,2017, MacAndrews & Forbes sent a letter to the board of directors of the Company, a copy of which is attached as Exhibit 12 hereto and incorporated into this Item 4 by reference.
A number of other institutional investors have also recently bought and sold shares of the stock. Mittleman Brothers LLC increased its position in Revlon by 1.0% during 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. Dimensional Fund Advisors LP increased its position in Revlon by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,049,676 shares of the company’s stock valued at $24,878,000 after acquiring an additional 33,969 shares during the last quarter. Vanguard Group Inc. increased its position in Revlon by 4.1% during the second quarter. Vanguard Group Inc. now owns 1,002,936 shares of the company’s stock valued at $23,770,000 after acquiring an additional 39,526 shares during the last quarter. State Street Corp increased its position in Revlon by 3.6% during the second quarter. State Street Corp now owns 237,381 shares of the company’s stock valued at $5,626,000 after acquiring an additional 8,268 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Revlon by 1,885.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 162,426 shares of the company’s stock valued at $3,849,000 after acquiring an additional 154,244 shares during the last quarter. Institutional investors own 13.99% of the company’s stock.
Revlon, Inc. (NYSE:REV) traded down 0.31% during mid-day trading on Monday, reaching $16.00. The company’s stock had a trading volume of 222,787 shares. Revlon, Inc. has a one year low of $15.60 and a one year high of $37.96. The stock has a 50-day moving average price of $17.55 and a 200-day moving average price of $22.53. The company’s market capitalization is $841.84 million.
Revlon (NYSE:REV) last released its quarterly earnings data on Friday, August 4th. The company reported ($0.46) earnings per share for the quarter. The company had revenue of $645.70 million for the quarter. Revlon had a negative net margin of 4.35% and a negative return on equity of 3.09%. Equities research analysts forecast that Revlon, Inc. will post $1.80 EPS for the current year.
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REV has been the subject of a number of research reports. BidaskClub upgraded Revlon from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Jefferies Group LLC initiated coverage on Revlon in a research report on Wednesday, September 13th. They set a “hold” rating and a $16.00 price objective for the company. Finally, ValuEngine cut Revlon from a “hold” rating to a “sell” rating in a research report on Friday.
In related news, Director Ronald O. Perelman acquired 150,210 shares of Revlon stock in a transaction on Friday, June 23rd. The stock was acquired at an average price of $23.11 per share, for a total transaction of $3,471,353.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronald O. Perelman acquired 419,127 shares of Revlon stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $18.55 per share, with a total value of $7,774,805.85. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,305,586 shares of company stock valued at $26,082,880 in the last quarter. Company insiders own 78.00% of the company’s stock.
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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