Revlon (REV) Debt Trading 1.2% Lower

An issue of Revlon Inc (NYSE:REV) bonds fell 1.2% as a percentage of their face value during trading on Wednesday. The high-yield issue of debt has a 5.75% coupon and is set to mature on February 15, 2021. The debt is now trading at $82.50 and was trading at $83.75 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.

Several equities research analysts recently weighed in on REV shares. ValuEngine raised Revlon from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. Jefferies Financial Group reissued a “hold” rating and set a $18.00 price objective on shares of Revlon in a report on Friday, August 10th. Finally, Zacks Investment Research downgraded Revlon from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th.

Shares of NYSE REV traded up $0.15 during mid-day trading on Wednesday, hitting $21.25. 159,100 shares of the stock traded hands, compared to its average volume of 125,183. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of -2.70. Revlon Inc has a twelve month low of $14.00 and a twelve month high of $27.90. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -11.11 and a beta of 0.38.

Revlon (NYSE:REV) last released its quarterly earnings data on Thursday, August 9th. The company reported ($1.54) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($1.27). The company had revenue of $606.80 million during the quarter, compared to the consensus estimate of $637.30 million. research analysts anticipate that Revlon Inc will post -3.15 earnings per share for the current fiscal year.

In related news, Director Ronald O. Perelman bought 75,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were purchased at an average cost of $17.30 per share, with a total value of $1,297,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronald O. Perelman bought 138,943 shares of the business’s stock in a transaction on Friday, August 10th. The shares were bought at an average cost of $16.34 per share, for a total transaction of $2,270,328.62. The disclosure for this purchase can be found here. Insiders have acquired a total of 428,943 shares of company stock worth $7,888,729 over the last ninety days. Company insiders own 85.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its holdings in Revlon by 9.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 63,315 shares of the company’s stock worth $1,305,000 after buying an additional 5,240 shares during the period. Paloma Partners Management Co acquired a new position in Revlon during the 2nd quarter worth about $295,000. Russell Investments Group Ltd. acquired a new position in Revlon during the 2nd quarter worth about $300,000. Bank of America Corp DE lifted its holdings in Revlon by 400.7% during the 2nd quarter. Bank of America Corp DE now owns 21,425 shares of the company’s stock worth $376,000 after buying an additional 17,146 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in Revlon by 11.1% during the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 516,072 shares of the company’s stock worth $10,631,000 after buying an additional 51,683 shares during the period. 14.84% of the stock is currently owned by hedge funds and other institutional investors.

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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