Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Herbalife Ltd (NYSE:HLF)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Herbalife Ltd by 18.5%, now owning approximately 0.71% of the company worth $6.25 million after acquiring an additional 113,015 shares.
• In recent trading, Herbalife stock has gained 2.9%, opening at $9.17, with a market capitalization of $945.11 million.
• Herbalife's Q2 earnings report showed an EPS of $0.59, surpassing estimates, while revenue was down 1.7% year-over-year, totaling $1.26 billion.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Herbalife Ltd (NYSE:HLF - Free Report) by 18.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 723,968 shares of the company's stock after purchasing an additional 113,015 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.71% of Herbalife worth $6,248,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its position in Herbalife by 199.7% in the first quarter. CWM LLC now owns 7,969 shares of the company's stock worth $69,000 after acquiring an additional 5,310 shares in the last quarter. Bridgefront Capital LLC purchased a new position in shares of Herbalife in the 4th quarter valued at $71,000. MQS Management LLC purchased a new position in shares of Herbalife in the 1st quarter valued at $105,000. Cerity Partners LLC acquired a new position in shares of Herbalife during the first quarter worth $108,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Herbalife during the first quarter worth $147,000.

Insider Buying and Selling

In other Herbalife news, Director Juan Miguel Mendoza purchased 5,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $6.75 per share, with a total value of $33,750.00. Following the completion of the acquisition, the director owned 166,857 shares in the company, valued at $1,126,284.75. This trade represents a 3.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.73% of the company's stock.

Herbalife Stock Up 2.6%

Shares of HLF traded up $0.24 during trading hours on Friday, reaching $9.59. 1,868,916 shares of the company traded hands, compared to its average volume of 2,119,540. The stock has a market capitalization of $988.82 million, a P/E ratio of 3.03, a P/E/G ratio of 0.28 and a beta of 0.85. Herbalife Ltd has a 12-month low of $5.04 and a 12-month high of $10.83. The business has a fifty day moving average price of $9.11 and a 200-day moving average price of $7.88.

Herbalife (NYSE:HLF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.06. Herbalife had a net margin of 6.59% and a negative return on equity of 27.36%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts predict that Herbalife Ltd will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HLF. Citigroup reduced their price target on Herbalife from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen downgraded Herbalife from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th. Finally, Mizuho boosted their price objective on shares of Herbalife from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.50.

Herbalife Profile

Herbalife Ltd. provides health and wellness products in North America, Mexico, South and Central America, Europe, the Middle East, Africa, China, and the Asia Pacific. It offers products in the areas of weight management; targeted nutrition; energy, sports, and fitness; outer nutrition; and literature and promotional items.