State Board of Administration of Florida Retirement System increased its stake in Elizabeth Arden Inc. (NASDAQ:RDEN) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 24,969 shares of the company’s stock after buying an additional 1,491 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Elizabeth Arden worth $344,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Sphinx Trading LP purchased a new position in Elizabeth Arden during the second quarter valued at approximately $110,000. Quantitative Systematic Strategies LLC purchased a new position in Elizabeth Arden during the second quarter valued at approximately $176,000. Jacobs Levy Equity Management Inc. purchased a new position in Elizabeth Arden during the first quarter valued at approximately $211,000. Spark Investment Management LLC purchased a new position in Elizabeth Arden during the first quarter valued at approximately $217,000. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Elizabeth Arden during the second quarter valued at approximately $495,000. Institutional investors and hedge funds own 70.70% of the company’s stock.
Shares of Elizabeth Arden Inc. (NASDAQ:RDEN) remained flat at $13.98 during mid-day trading on Wednesday. Elizabeth Arden Inc. has a 12 month low of $5.02 and a 12 month high of $14.14. The company has a 50-day moving average price of $13.93 and a 200-day moving average price of $10.50.
Elizabeth Arden (NASDAQ:RDEN) last released its earnings results on Wednesday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.78) by $0.20. The business had revenue of $192.70 million for the quarter, compared to analyst estimates of $193.75 million. Elizabeth Arden had a negative return on equity of 38.72% and a negative net margin of 7.43%. On average, analysts anticipate that Elizabeth Arden Inc. will post ($0.49) earnings per share for the current fiscal year.
Several research analysts recently commented on the company. B. Riley reissued a “neutral” rating and issued a $14.00 price objective on shares of Elizabeth Arden in a research note on Sunday, September 25th. Zacks Investment Research raised Elizabeth Arden from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, July 6th.
About Elizabeth Arden
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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