Engineers Gate Manager LP Purchases 122,788 Shares of Herbalife Ltd $HLF

Key Points

• Engineers Gate Manager LP increased its Herbalife position by 154.1% in the second quarter, purchasing 122,788 additional shares and bringing its holdings to 202,483 shares worth approximately $2.66 million.
• Herbalife reported quarterly EPS of $0.51, below the $0.54 analyst consensus, while revenue of $1.33 billion exceeded estimates and rose 5.4% year over year.
• The company authorized a $250 million share-repurchase program, potentially covering up to 19.3% of outstanding shares. Analysts maintain a consensus “Hold” rating with an average price target of $17, compared with the stock’s $12.04 opening price.

Engineers Gate Manager LP boosted its position in Herbalife Ltd (NYSE:HLF - Free Report) by 154.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,483 shares of the company's stock after buying an additional 122,788 shares during the quarter. Engineers Gate Manager LP owned approximately 0.19% of Herbalife worth $2,663,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HLF. Arrowstreet Capital Limited Partnership boosted its holdings in Herbalife by 11.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,596,795 shares of the company's stock valued at $38,225,000 after acquiring an additional 267,539 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Herbalife by 29.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,877,717 shares of the company's stock worth $27,638,000 after purchasing an additional 425,968 shares during the period. California State Teachers Retirement System increased its stake in shares of Herbalife by 1,231.9% in the second quarter. California State Teachers Retirement System now owns 1,564,074 shares of the company's stock worth $20,568,000 after purchasing an additional 1,446,645 shares during the period. Invenomic Capital Management LP increased its stake in shares of Herbalife by 82.6% in the fourth quarter. Invenomic Capital Management LP now owns 768,031 shares of the company's stock worth $9,900,000 after purchasing an additional 347,401 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Herbalife during the 1st quarter worth about $9,491,000.

Herbalife Trading Up 0.2%

HLF stock opened at $12.04 on Tuesday. Herbalife Ltd has a 1-year low of $7.56 and a 1-year high of $20.40. The business's 50 day moving average is $12.30 and its 200-day moving average is $13.59. The firm has a market cap of $1.26 billion, a P/E ratio of 7.77, a P/E/G ratio of 0.40 and a beta of 0.85.

Herbalife (NYSE:HLF - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.03). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Herbalife had a net margin of 3.16% and a negative return on equity of 43.90%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. Sell-side analysts forecast that Herbalife Ltd will post 2.68 EPS for the current year.

Herbalife announced that its Board of Directors has approved a stock repurchase plan on Tuesday, September 8th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 19.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HLF. Citigroup restated a "buy" rating and set a $17.00 target price (down from $21.00) on shares of Herbalife in a research note on Friday, August 7th. Wall Street Zen downgraded Herbalife from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered Herbalife from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Herbalife has an average rating of "Hold" and an average price target of $17.00.

Herbalife Company Profile

Herbalife Ltd. NYSE: HLF is a global nutrition and wellness company that develops and sells products through a network of independent distributors. Its offerings are designed to support weight management, balanced nutrition, energy, sports performance and personal care.

The company's product portfolio includes meal-replacement shakes, protein and fiber products, dietary supplements, vitamins, herbal teas, sports nutrition products and skin- and body-care items. Herbalife distributes its products in markets around the world, including North America, Latin America, Europe, Asia-Pacific and Africa, primarily through direct selling and independent members who provide product information and personalized support to consumers.

Herbalife was founded in 1980 by Mark Hughes and has since expanded from a primarily weight-management business into a broader nutrition and wellness enterprise.

Want to see what other hedge funds are holding HLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Herbalife Ltd (NYSE:HLF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.