First Manhattan Co. reduced its stake in HRG Group, Inc. (NYSE:HRG) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,458,971 shares of the company’s stock after selling 341,505 shares during the period. First Manhattan Co. owned approximately 2.23% of HRG Group worth $78,968,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in HRG. Silver Capital Management LLC purchased a new position in HRG Group during the second quarter valued at approximately $412,000. Breton Hill Capital Ltd. boosted its stake in shares of HRG Group by 42.1% in the second quarter. Breton Hill Capital Ltd. now owns 36,968 shares of the company’s stock valued at $655,000 after buying an additional 10,945 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of HRG Group during the second quarter valued at about $990,000. Russell Investments Group Ltd. boosted its stake in shares of HRG Group by 1,359.0% in the second quarter. Russell Investments Group Ltd. now owns 336,465 shares of the company’s stock valued at $5,958,000 after buying an additional 313,404 shares during the last quarter. Finally, Cypress Funds LLC boosted its stake in shares of HRG Group by 4.8% in the second quarter. Cypress Funds LLC now owns 1,100,000 shares of the company’s stock valued at $19,481,000 after buying an additional 50,000 shares during the last quarter. 94.36% of the stock is owned by institutional investors and hedge funds.
Shares of HRG Group, Inc. (HRG) opened at 15.43 on Friday. The firm has a 50-day moving average price of $16.85 and a 200 day moving average price of $18.15. HRG Group, Inc. has a one year low of $14.07 and a one year high of $20.17. The stock has a market capitalization of $3.09 billion, a PE ratio of 25.01 and a beta of 1.29.
HRG Group (NYSE:HRG) last released its quarterly earnings results on Friday, August 4th. The company reported ($0.01) earnings per share for the quarter. HRG Group had a negative return on equity of 5.34% and a net margin of 2.49%. The company had revenue of $1.30 billion during the quarter. On average, equities analysts expect that HRG Group, Inc. will post $0.78 EPS for the current fiscal year.
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Separately, BidaskClub cut HRG Group from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th.
About HRG Group
HRG Group, Inc is a holding company. The Company operates through two segments: Consumer Products and Insurance. The Consumer Products segment consists of the Company’s subsidiary, Spectrum Brands Holdings, Inc (Spectrum Brands). The Insurance segment includes its subsidiary, Front Street Re (Delaware) Ltd.
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