Kassirer Asset Management Corp bought a new position in Elizabeth Arden Inc. (NASDAQ:RDEN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 262,500 shares of the company’s stock, valued at approximately $3,612,000. Elizabeth Arden comprises 1.7% of Kassirer Asset Management Corp’s investment portfolio, making the stock its 27th largest position.
A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Elizabeth Arden by 2.9% in the first quarter. Geode Capital Management LLC now owns 172,530 shares of the company’s stock worth $1,413,000 after buying an additional 4,897 shares during the last quarter. Sphinx Trading LP purchased a new stake in shares of Elizabeth Arden during the second quarter worth $110,000. Continental Advisors LLC raised its stake in shares of Elizabeth Arden by 14.5% in the first quarter. Continental Advisors LLC now owns 67,064 shares of the company’s stock worth $549,000 after buying an additional 8,500 shares during the last quarter. State Street Corp raised its stake in shares of Elizabeth Arden by 3.8% in the first quarter. State Street Corp now owns 405,292 shares of the company’s stock worth $3,320,000 after buying an additional 14,867 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Elizabeth Arden during the first quarter worth $211,000. Institutional investors own 70.70% of the company’s stock.
Elizabeth Arden Inc. (NASDAQ:RDEN) remained flat at $13.98 on Wednesday. Elizabeth Arden Inc. has a 52 week low of $5.02 and a 52 week high of $14.14. The company’s 50-day moving average price is $13.93 and its 200 day moving average price is $10.50.
Elizabeth Arden (NASDAQ:RDEN) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.20. Elizabeth Arden had a negative net margin of 7.43% and a negative return on equity of 38.72%. The company earned $192.70 million during the quarter, compared to the consensus estimate of $193.75 million. On average, analysts predict that Elizabeth Arden Inc. will post ($0.49) earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. B. Riley restated a “neutral” rating and issued a $14.00 price objective on shares of Elizabeth Arden in a report on Wednesday, June 22nd. Zacks Investment Research raised shares of Elizabeth Arden from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, August 16th. Finally, Imperial Capital reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Elizabeth Arden in a research report on Wednesday, June 8th.
Elizabeth Arden Company Profile
Elizabeth Arden, Inc is a global beauty products company with a portfolio of fragrance, skin care and cosmetics brands. The Company’s product portfolio includes Elizabeth Arden Brand, such as the Elizabeth Arden skin care brands (Visible Difference, Ceramide, Prevage, Eight Hour Cream, Superstart and Elizabeth Arden Pro), Elizabeth Arden branded lipstick, foundation and other color cosmetics products and Elizabeth Arden fragrances (Red Door, 5th Avenue, Elizabeth Arden Green Tea and UNTOLD); designer fragrances, which include Juicy Couture, John Varvatos, and Wildfox Couture; Heritage Fragrances, such as Curve, Elizabeth Taylor, Britney Spears, Halston, Ed Hardy, Geoffrey Beene, Alfred Sung, Giorgio Beverly Hills, Lucky, PS Fine Cologne, White Shoulders, BCBGMAXAZRIA, Rocawear and Jennifer Aniston, and celebrity fragrances, which include the fragrance brands of Justin Bieber, Mariah Carey, Nicki Minaj and Taylor Swift.
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