New York State Common Retirement Fund cut its position in shares of GNC Holdings Inc (NYSE:GNC) by 14.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,778 shares of the specialty retailer’s stock after selling 14,615 shares during the quarter. New York State Common Retirement Fund owned 0.13% of GNC worth $767,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of GNC. Bayesian Capital Management LP purchased a new stake in shares of GNC in the second quarter worth approximately $102,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of GNC in the third quarter worth approximately $109,000. WFG Advisors LP lifted its position in shares of GNC by 13.1% in the second quarter. WFG Advisors LP now owns 14,773 shares of the specialty retailer’s stock worth $125,000 after purchasing an additional 1,715 shares in the last quarter. Comerica Bank lifted its position in shares of GNC by 6.7% in the second quarter. Comerica Bank now owns 22,443 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 1,419 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of GNC in the third quarter worth approximately $203,000. 61.81% of the stock is owned by institutional investors.
In other news, EVP Tim Mantel acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average price of $5.80 per share, for a total transaction of $116,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.85% of the company’s stock.
GNC (NYSE:GNC) last released its quarterly earnings data on Thursday, October 26th. The specialty retailer reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). GNC had a negative return on equity of 133.37% and a negative net margin of 15.11%. The firm had revenue of $609.47 million during the quarter, compared to analyst estimates of $614.08 million. During the same quarter in the prior year, the company posted $0.59 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. analysts expect that GNC Holdings Inc will post 1.28 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. Robert W. Baird reissued a “hold” rating and issued a $10.00 price target on shares of GNC in a research report on Sunday, September 17th. ValuEngine upgraded GNC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Barclays dropped their price objective on GNC from $9.00 to $6.00 and set an “underweight” rating on the stock in a report on Friday, October 27th. Finally, Zacks Investment Research downgraded GNC from a “hold” rating to a “strong sell” rating in a report on Friday, October 27th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.10.
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GNC Holdings, Inc is a specialty retailer of health, wellness and performance products, which include protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. The Company’s operations consist of purchasing raw materials, formulating and manufacturing products and selling the finished products.
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