Heartland Advisors Inc Lowers stake in Regis Corporation (RGS)

Regis Corporation (RGS) : Heartland Advisors Inc reduced its stake in Regis Corporation by 24.13% during the most recent quarter end. The investment management company now holds a total of 3,983,750 shares of Regis Corporation which is valued at $54,258,675 after selling 1,267,073 shares in Regis Corporation , the firm said in a disclosure report filed with the SEC on May 3, 2016.Regis Corporation makes up approximately 2.84% of Heartland Advisors Inc’s portfolio.

Other Hedge Funds, Including , Glenmede Trust Co Na boosted its stake in RGS in the latest quarter, The investment management firm added 76 additional shares and now holds a total of 362 shares of Regis Corporation which is valued at $4,949. Strs Ohio sold out all of its stake in RGS during the most recent quarter. The investment firm sold 6,300 shares of RGS which is valued $99,225.

Regis Corporation opened for trading at $13.68 and hit $13.81 on the upside on Tuesday, eventually ending the session at $13.8, with a gain of 1.32% or 0.18 points. The heightened volatility saw the trading volume jump to 2,01,047 shares. Company has a market cap of $641 M.

On the company’s financial health, Regis Corporation reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.02. The company had revenue of $442.60 million for the quarter, compared to analysts expectations of $453.45 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 EPS.

Regis Corporation owns franchises and operates beauty salons. The Company operates in three segments: North American Value North American Premium and International. As of June 30 2015 the Company owned franchised or held ownership interests in 9556 locations around the world. The Company’s locations consist of around 9300 company-owned and franchised salons and around 200 locations in which it maintains a non-controlling ownership interest. The Company’s salon concepts offer similar salon products and services and serve the mass marketplace. The major services supplied by the Company’s salons are haircutting and styling (including shampooing and conditioning) hair coloring and other services. The Company’s salons operate primarily under the trade names of SmartStyle Supercuts MasterCuts Regis Salons and Cost Cutters. The various brands within the Company’s retail assortment include Biolage Paul Mitchell Regis Sexy Hair Concepts Kenra and Moroccanoil.

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