Clearline Capital LP Lowers Holdings in Helen of Troy Limited $HELE

Key Points

• Clearline Capital LP has decreased its stake in Helen of Troy Limited by 24.9%, now owning 82,770 shares valued at approximately $4.4 million.
• Analysts have revised their price targets for Helen of Troy, with Canaccord Genuity lowering it from $47.00 to $26.00 and UBS reducing it from $32.00 to $29.00, while the consensus target is $44.33.
• Insiders, including CEO Brian Grass and CFO Tracy Scheuerman, recently purchased a total of 20,000 shares which indicates confidence in the company's future prospects.

Clearline Capital LP cut its stake in shares of Helen of Troy Limited (NASDAQ:HELE - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,770 shares of the company's stock after selling 27,388 shares during the quarter. Clearline Capital LP owned 0.36% of Helen of Troy worth $4,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Earnest Partners LLC lifted its holdings in Helen of Troy by 3.1% in the first quarter. Earnest Partners LLC now owns 780,940 shares of the company's stock valued at $41,772,000 after acquiring an additional 23,601 shares during the period. Pzena Investment Management LLC lifted its holdings in Helen of Troy by 7.2% in the first quarter. Pzena Investment Management LLC now owns 756,227 shares of the company's stock valued at $40,451,000 after acquiring an additional 50,516 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Helen of Troy by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 520,422 shares of the company's stock valued at $27,837,000 after acquiring an additional 38,268 shares during the period. Armistice Capital LLC acquired a new stake in Helen of Troy in the first quarter valued at $19,845,000. Finally, Bank of America Corp DE lifted its holdings in Helen of Troy by 80.5% in the fourth quarter. Bank of America Corp DE now owns 364,180 shares of the company's stock valued at $21,789,000 after acquiring an additional 162,460 shares during the period.

Helen of Troy Price Performance

Helen of Troy stock traded down $0.58 during midday trading on Friday, reaching $24.12. 510,210 shares of the company were exchanged, compared to its average volume of 667,818. The company has a market capitalization of $553.39 million, a price-to-earnings ratio of -1.66 and a beta of 0.84. The firm's 50-day simple moving average is $23.87 and its 200-day simple moving average is $32.25. Helen of Troy Limited has a 1 year low of $20.02 and a 1 year high of $77.95. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.70.

Helen of Troy (NASDAQ:HELE - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.50). The company had revenue of $371.66 million for the quarter, compared to analysts' expectations of $400.69 million. Helen of Troy had a positive return on equity of 8.96% and a negative net margin of 17.89%.The company's revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. On average, analysts anticipate that Helen of Troy Limited will post 6.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HELE. UBS Group reduced their target price on Helen of Troy from $32.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $26.00 price target (down previously from $47.00) on shares of Helen of Troy in a research note on Friday, July 11th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $44.33.

Insider Transactions at Helen of Troy

In related news, CEO Brian Grass acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was purchased at an average price of $21.47 per share, for a total transaction of $214,700.00. Following the transaction, the chief executive officer owned 135,932 shares in the company, valued at $2,918,460.04. This trade represents a 7.94% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tracy Scheuerman purchased 10,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was acquired at an average price of $20.13 per share, with a total value of $201,300.00. Following the acquisition, the chief financial officer directly owned 33,041 shares in the company, valued at $665,115.33. This trade represents a 43.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 20,435 shares of company stock valued at $425,948. 0.45% of the stock is currently owned by company insiders.

Helen of Troy Company Profile

Helen of Troy Limited provides various consumer products in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates in two segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment offers food storage containers, kitchen utensils for cooking and preparing salads, fruits, vegetables and meats, graters, slicers and choppers, baking essentials, kitchen organization, bath, cleaning, infant and toddler products, and coffee preparation tools and electronics; and insulated beverageware, including bottles, travel tumblers, drinkware, mugs, food and lunch containers, insulated totes, soft coolers, outdoor kitchenware, and accessories.