Quantitative Investment Management buys $11,081,056 stake in L Brands Inc (LB)

L Brands Inc (LB) : Quantitative Investment Management scooped up 101,000 additional shares in L Brands Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 152,800 shares of L Brands Inc which is valued at $11,081,056.L Brands Inc makes up approximately 0.50% of Quantitative Investment Management’s portfolio.

Other Hedge Funds, Including , Davy Asset Management Ltd boosted its stake in LB in the latest quarter, The investment management firm added 8,751 additional shares and now holds a total of 30,632 shares of L Brands Inc which is valued at $2,221,433. L Brands Inc makes up approx 0.45% of Davy Asset Management Ltd’s portfolio. Boston Private Wealth sold out all of its stake in LB during the most recent quarter. The investment firm sold 2,850 shares of LB which is valued $206,682.Seven Bridges Advisors reduced its stake in LB by selling 10,470 shares or 31.77% in the most recent quarter. The Hedge Fund company now holds 22,483 shares of LB which is valued at $1,653,849. L Brands Inc makes up approx 1.36% of Seven Bridges Advisors’s portfolio.Mazama Capital Management Inc boosted its stake in LB in the latest quarter, The investment management firm added 4,439 additional shares and now holds a total of 42,871 shares of L Brands Inc which is valued at $2,965,816. L Brands Inc makes up approx 0.58% of Mazama Capital Management Inc’s portfolio.

L Brands Inc closed down -0.66 points or -0.88% at $73.96 with 18,57,985 shares getting traded on Monday. Post opening the session at $74.86, the shares hit an intraday low of $73.76 and an intraday high of $75.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, L Brands Inc reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.55. The company had revenue of $2613.80 million for the quarter, compared to analysts expectations of $2669.41 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on L Brands Inc. L Brands Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 28, 2016. Shares were Reiterated by Wolfe Research on May 20, 2016 to “Peer Perform” and Lowered the Price Target to $ 62 from a previous price target of $70 .Shares were Reiterated by FBR Capital on May 20, 2016 to “Mkt Perform” and Lowered the Price Target to $ 63 from a previous price target of $93 .

L Brands Inc. operates specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel beauty and personal care products and accessories. It operates in three segments: Victoria’s Secret which includes Victoria’s Secret PINK which is the specialty retailer of women’s intimate and other apparel with fashion-inspired collections prestige fragrances celebrated supermodels and world-famous runway shows; Bath & Body Works which is the specialty retailer of home fragrance and personal care products including shower gels lotions soaps and sanitizers and Victoria’s Secret and Bath & Body Works International which includes the Victoria’s Secret and Bath & Body Works company-owned and partner-operated stores outside of the United States and Canada. It sells its merchandise through company-owned specialty retail stores in the United States Canada and the United Kingdom which are primarily mall-based and through its Websites and other channels.

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