Insider Buying: Michael F. Hines Buys 30,000 Shares of GNC Holdings Stock (GNC)
GNC Holdings (NYSE:GNC) Director Michael F. Hines bought 30,000 shares of GNC Holdings stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $35.41 per share, for a total transaction of $1,062,300.00. Following the completion of the transaction, the director now directly owns 37,118 shares of the company’s stock, valued at approximately $1,314,348. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
GNC Holdings (NYSE:GNC) traded up 2.56% on Tuesday, hitting $36.39. 2,286,954 shares of the company’s stock traded hands. GNC Holdings has a 52-week low of $30.84 and a 52-week high of $60.98. The stock’s 50-day moving average is $34. and its 200-day moving average is $40.63. The company has a market cap of $3.275 billion and a price-to-earnings ratio of 12.80. GNC Holdings also was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 4,769,796 shares, an increase of 56.5% from the July 15th total of 3,047,714 shares. Based on an average trading volume of 3,668,353 shares, the short-interest ratio is currently 1.3 days. Approximately 5.3% of the shares of the company are short sold.
GNC Holdings (NYSE:GNC) last announced its earnings results on Tuesday, July 29th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.02. The company had revenue of $675.20 million for the quarter, compared to the consensus estimate of $706.00 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that GNC Holdings will post $2.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, September 10th.
A number of analysts have recently weighed in on GNC shares. Analysts at Credit Suisse upgraded shares of GNC Holdings from a “neutral” rating to an “outperform” rating in a research note on Monday, August 11th. They now have a $43.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of GNC Holdings in a research note on Wednesday, July 30th. They now have a $35.00 price target on the stock, down previously from $40.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of GNC Holdings in a research note on Wednesday, July 30th. They now have a $35.00 price target on the stock, down previously from $39.00. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.58.
GNC Holdings, Inc (NYSE:GNC) is a holding company.
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