Rutabaga Capital Managementma Lowers stake in Regis Corporation (RGS)

Regis Corporation (RGS) : Rutabaga Capital Managementma reduced its stake in Regis Corporation by 9.41% during the most recent quarter end. The investment management company now holds a total of 1,172,352 shares of Regis Corporation which is valued at $15,064,723 after selling 121,837 shares in Regis Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Regis Corporation makes up approximately 2.61% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System reduced its stake in RGS by selling 42,500 shares or 17.51% in the most recent quarter. The Hedge Fund company now holds 200,283 shares of RGS which is valued at $2,573,637.Wedge Capital Management L L Pnc boosted its stake in RGS in the latest quarter, The investment management firm added 2,723,816 additional shares and now holds a total of 2,740,009 shares of Regis Corporation which is valued at $36,825,721. Regis Corporation makes up approx 0.41% of Wedge Capital Management L L Pnc’s portfolio.Louisiana State Employees Retirement System reduced its stake in RGS by selling 400 shares or 2.37% in the most recent quarter. The Hedge Fund company now holds 16,500 shares of RGS which is valued at $222,255. Regis Corporation makes up approx 0.01% of Louisiana State Employees Retirement System’s portfolio.Nisa Investment Advisors boosted its stake in RGS in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 5,900 shares of Regis Corporation which is valued at $81,656.Bnp Paribas Arbitrage Sa boosted its stake in RGS in the latest quarter, The investment management firm added 5,889 additional shares and now holds a total of 12,731 shares of Regis Corporation which is valued at $173,524.

Regis Corporation closed down -0.12 points or -0.91% at $13 with 62,335 shares getting traded on Monday. Post opening the session at $13.11, the shares hit an intraday low of $12.97 and an intraday high of $13.18 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Many Wall Street Analysts have commented on Regis Corporation. Regis Corporation was Downgraded by Piper Jaffray to ” Underweight” on May 19, 2016.

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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