Clovis Capital Management Lp Lowers stake in GNC Holdings Inc (GNC)

GNC Holdings Inc (GNC) : Clovis Capital Management Lp reduced its stake in GNC Holdings Inc by 5.12% during the most recent quarter end. The investment management company now holds a total of 772,914 shares of GNC Holdings Inc which is valued at $19.4 Million after selling 41,736 shares in GNC Holdings Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.GNC Holdings Inc makes up approximately 13.30% of Clovis Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Meeder Asset Management Inc sold out all of its stake in GNC during the most recent quarter. The investment firm sold 3,280 shares of GNC which is valued $82,262.Cornerstone Capital Management Holdings. reduced its stake in GNC by selling 23,711 shares or 13.99% in the most recent quarter. The Hedge Fund company now holds 145,805 shares of GNC which is valued at $3.7 Million. GNC Holdings Inc makes up approx 0.03% of Cornerstone Capital Management Holdings.’s portfolio. Menta Capital added GNC to its portfolio by purchasing 7,567 company shares during the most recent quarter which is valued at $189,780. GNC Holdings Inc makes up approx 0.03% of Menta Capital’s portfolio. Janney Montgomery Scott added GNC to its portfolio by purchasing 6,503 company shares during the most recent quarter which is valued at $163,095.New York State Common Retirement Fund reduced its stake in GNC by selling 38,296 shares or 13.51% in the most recent quarter. The Hedge Fund company now holds 245,205 shares of GNC which is valued at $6.4 Million. GNC Holdings Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.

GNC Holdings Inc opened for trading at $24.74 and hit $25.42 on the upside on Friday, eventually ending the session at $25.23, with a gain of 1.57% or 0.39 points. The heightened volatility saw the trading volume jump to 11,47,791 shares. Company has a market cap of $1,725 M.

On the company’s financial health, GNC Holdings Inc reported $0.69 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.74. The company had revenue of $668.90 million for the quarter, compared to analysts expectations of $668.32 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.72 EPS.

Investors should note that on Apr 27, 2016, GNC Holdings Inc announced a cash dividend of $0.2000. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jun 24, 2016.

Many Wall Street Analysts have commented on GNC Holdings Inc. Piper Jaffray Initiated GNC Holdings Inc on May 10, 2016 to “Overweight”, Price Target of the shares are set at $38.GNC Holdings Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on May 5, 2016. GNC Holdings Inc was Downgraded by Goldman to ” Neutral” on Apr 29, 2016.

GNC Holdings Inc. (GNC) is a specialty retailer of health and wellness products including vitamins minerals and herbal supplement products (VMHS) sports nutrition products and diet products. Its product mix is sold under its GNC brands including Mega Men Ultra Mega Total Lean Pro Performance and Pro Performance AMP and Beyond Raw and under third-party brands. It operates in three segments: Retail Franchise and Manufacturing/Wholesale. The Company’s retail generates revenues from sales of products to customers at Company-owned stores in the United States Canada and Puerto Rico and through its Websites GNC.com LuckyVitamin.com and DiscountSupplements.com. Franchise consists of its domestic and international franchise operations and generates revenues from franchise activities through product sales to franchisees royalties on franchise retail sales and franchise fees. Manufacturing/Wholesale comprises manufacturing operations in South Carolina and its wholesale sales business.

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