Rovida Advisors Lowers stake in Spectrum Brands Holdings (SPB)

Spectrum Brands Holdings (SPB) : Rovida Advisors reduced its stake in Spectrum Brands Holdings by 6.54% during the most recent quarter end. The investment management company now holds a total of 1,168,264 shares of Spectrum Brands Holdings which is valued at $136,745,301 after selling 81,736 shares in Spectrum Brands Holdings , the firm said in a disclosure report filed with the SEC on May 10, 2016.Spectrum Brands Holdings makes up approximately 26.74% of Rovida Advisors’s portfolio.

Other Hedge Funds, Including , Blackrock Advisors boosted its stake in SPB in the latest quarter, The investment management firm added 331 additional shares and now holds a total of 12,994 shares of Spectrum Brands Holdings which is valued at $1,520,948. Engineers Gate Manager Lp added SPB to its portfolio by purchasing 22,921 company shares during the most recent quarter which is valued at $2,682,903. Spectrum Brands Holdings makes up approx 0.21% of Engineers Gate Manager Lp’s portfolio.New York State Common Retirement Fund reduced its stake in SPB by selling 11,520 shares or 15.07% in the most recent quarter. The Hedge Fund company now holds 64,941 shares of SPB which is valued at $7,517,570. Spectrum Brands Holdings makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Bluecrest Capital Management Ltd reduced its stake in SPB by selling 15,894 shares or 31.68% in the most recent quarter. The Hedge Fund company now holds 34,269 shares of SPB which is valued at $3,966,979. Spectrum Brands Holdings makes up approx 0.35% of Bluecrest Capital Management Ltd’s portfolio.Russell Frank Co reduced its stake in SPB by selling 4,656 shares or 4.49% in the most recent quarter. The Hedge Fund company now holds 98,991 shares of SPB which is valued at $11,245,378. Spectrum Brands Holdings makes up approx 0.02% of Russell Frank Co’s portfolio.

Spectrum Brands Holdings opened for trading at $117.11 and hit $118 on the upside on Monday, eventually ending the session at $117.83, with a gain of 0.67% or 0.78 points. The heightened volatility saw the trading volume jump to 2,30,811 shares. Company has a market cap of $6,999 M.

On the company’s financial health, Spectrum Brands Holdings reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.92. The company had revenue of $1209.60 million for the quarter, compared to analysts expectations of $1189.97 million. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Many Wall Street Analysts have commented on Spectrum Brands Holdings. Company shares were Reiterated by Monness Crespi & Hardt on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $114 .

Spectrum Brands Holdings Inc. (SB Holdings) is a consumer products company. The Company supplies consumer batteries residential locksets residential builder’s hardware plumbing and accessories shaving and grooming products personal care products small household appliances specialty pet supplies lawn and garden and home pest control products personal insect repellents and auto care products. The Company operates in segments which include Global Batteries & Appliances Hardware and Home Improvement Global Pet Supplies Home and Garden and Global Auto Care. The Company manufactures and markets alkaline zinc carbon and hearing aid batteries as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries and electric shavers among others. The Company also offers Armor All STP and A/C PRO brands.

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