Assenagon Asset Management S.A. purchased a new stake in Herbalife Nutrition Ltd (NYSE:HLF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,329 shares of the company’s stock, valued at approximately $1,600,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zacks Investment Management bought a new stake in Herbalife Nutrition during the second quarter valued at $1,753,000. Teacher Retirement System of Texas boosted its stake in Herbalife Nutrition by 71.9% during the second quarter. Teacher Retirement System of Texas now owns 23,198 shares of the company’s stock valued at $1,246,000 after buying an additional 9,702 shares during the period. NorthCoast Asset Management LLC bought a new stake in Herbalife Nutrition during the second quarter valued at $21,267,000. Kiwi Wealth Investments Limited Partnership boosted its stake in Herbalife Nutrition by 76.2% during the second quarter. Kiwi Wealth Investments Limited Partnership now owns 30,516 shares of the company’s stock valued at $1,639,000 after buying an additional 13,196 shares during the period. Finally, Jennison Associates LLC bought a new stake in Herbalife Nutrition during the second quarter valued at $1,870,000. Institutional investors own 88.28% of the company’s stock.
Shares of HLF stock opened at $54.68 on Friday. Herbalife Nutrition Ltd has a 12-month low of $32.13 and a 12-month high of $60.41. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.11 and a beta of 0.73.
Herbalife Nutrition (NYSE:HLF) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.07. Herbalife Nutrition had a negative return on equity of 82.17% and a net margin of 3.84%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts forecast that Herbalife Nutrition Ltd will post 2.85 EPS for the current year.
In other Herbalife Nutrition news, COO David Pezzullo sold 33,070 shares of Herbalife Nutrition stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $55.64, for a total transaction of $1,840,014.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.19% of the company’s stock.
Several equities research analysts recently issued reports on the company. Royal Bank of Canada reissued a “hold” rating and set a $7.00 price objective on shares of Herbalife Nutrition in a research note on Friday. BMO Capital Markets reissued a “hold” rating and set a $5.75 price objective on shares of Herbalife Nutrition in a research note on Friday. Pivotal Research reissued a “buy” rating and set a $75.00 price objective on shares of Herbalife Nutrition in a research note on Thursday, October 25th. ValuEngine raised Herbalife Nutrition from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. Finally, Jefferies Financial Group assumed coverage on Herbalife Nutrition in a research note on Thursday, October 11th. They set a “buy” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $45.66.
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Herbalife Nutrition Profile
Herbalife Nutrition Ltd. develops and sells nutrition solutions in North America, Mexico, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It provides science-based products in the areas of weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition.
Read More: Stock Symbols and CUSIP Explained
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