Invenomic Capital Management LP Buys 96,805 Shares of Helen of Troy Limited $HELE

Key Points

• Invenomic Capital Management LP increased its stake in Helen of Troy Limited by 68.2%, acquiring an additional 96,805 shares, bringing its total holdings to 238,791 shares valued at approximately $12.77 million.
• Several institutional investors, including Armistice Capital LLC and Federated Hermes Inc., have significantly increased their positions in Helen of Troy, indicating growing confidence in the company's outlook.
• Despite these positive institutional movements, analysts have downgraded price targets for Helen of Troy, with UBS setting a new target of $29.00 and Canaccord Genuity lowering theirs to $26.00.

Invenomic Capital Management LP grew its holdings in shares of Helen of Troy Limited (NASDAQ:HELE - Free Report) by 68.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,791 shares of the company's stock after purchasing an additional 96,805 shares during the quarter. Invenomic Capital Management LP owned about 1.04% of Helen of Troy worth $12,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HELE. Armistice Capital LLC bought a new position in shares of Helen of Troy in the first quarter valued at approximately $19,845,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Helen of Troy by 1,985.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 332,708 shares of the company's stock worth $17,797,000 after acquiring an additional 316,755 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Helen of Troy by 3,325.3% during the first quarter. Federated Hermes Inc. now owns 185,616 shares of the company's stock worth $9,929,000 after acquiring an additional 180,197 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Helen of Troy by 80.5% during the fourth quarter. Bank of America Corp DE now owns 364,180 shares of the company's stock worth $21,789,000 after acquiring an additional 162,460 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Helen of Troy during the first quarter worth approximately $6,976,000.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HELE. UBS Group decreased their target price on shares of Helen of Troy from $32.00 to $29.00 and set a "neutral" rating on the stock in a research note 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 report on Friday, July 11th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Helen of Troy currently has a consensus rating of "Hold" and an average target price of $44.33.

Helen of Troy Stock Down 1.0%

Shares of HELE opened at $25.67 on Friday. The business's 50 day simple moving average is $24.68 and its 200-day simple moving average is $33.63. Helen of Troy Limited has a 1 year low of $20.02 and a 1 year high of $77.95. The stock has a market capitalization of $588.87 million, a price-to-earnings ratio of -1.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.70 and a quick ratio of 0.74.

Helen of Troy (NASDAQ:HELE - Get Free Report) last released its quarterly earnings results on Thursday, July 10th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.50). Helen of Troy had a negative net margin of 17.89% and a positive return on equity of 8.96%. The company had revenue of $371.66 million for the quarter, compared to analysts' expectations of $400.69 million. During the same quarter in the previous year, the company posted $0.99 EPS. The business's quarterly revenue was down 10.8% on a year-over-year basis. As a group, equities analysts expect that Helen of Troy Limited will post 6.46 earnings per share for the current fiscal year.

About Helen of Troy

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.

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