Y Intercept Hong Kong Ltd Boosts Stake in Spectrum Brands Holdings Inc. $SPB

Y Intercept Hong Kong Ltd grew its holdings in shares of Spectrum Brands Holdings Inc. (NYSE:SPB) by 521.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,900 shares of the company’s stock after purchasing an additional 15,018 shares during the period. Y Intercept Hong Kong Ltd owned about 0.07% of Spectrum Brands worth $949,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pzena Investment Management LLC boosted its stake in shares of Spectrum Brands by 10.5% in the second quarter. Pzena Investment Management LLC now owns 1,474,451 shares of the company’s stock valued at $78,146,000 after purchasing an additional 140,418 shares during the period. American Century Companies Inc. boosted its stake in shares of Spectrum Brands by 7.5% in the first quarter. American Century Companies Inc. now owns 1,319,420 shares of the company’s stock valued at $94,405,000 after purchasing an additional 92,418 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Spectrum Brands by 33.1% in the first quarter. Alberta Investment Management Corp now owns 750,029 shares of the company’s stock valued at $53,665,000 after purchasing an additional 186,729 shares during the period. Callodine Capital Management LP boosted its stake in shares of Spectrum Brands by 38.4% in the first quarter. Callodine Capital Management LP now owns 730,000 shares of the company’s stock valued at $52,232,000 after purchasing an additional 202,500 shares during the period. Finally, Armistice Capital LLC boosted its stake in shares of Spectrum Brands by 20.0% in the first quarter. Armistice Capital LLC now owns 691,000 shares of the company’s stock valued at $49,441,000 after purchasing an additional 115,143 shares during the period.

Spectrum Brands Trading Up 1.1%

Shares of SPB stock opened at $54.45 on Wednesday. The company has a market capitalization of $1.32 billion, a P/E ratio of 20.32 and a beta of 0.82. The company has a current ratio of 2.42, a quick ratio of 1.50 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $53.91 and its two-hundred day moving average is $56.27. Spectrum Brands Holdings Inc. has a twelve month low of $49.99 and a twelve month high of $96.62.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. During the same period in the previous year, the firm posted $1.13 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Canaccord Genuity Group cut their price target on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the stock an “outperform” rating in a research note on Monday, August 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Spectrum Brands in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Sunday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.