StockNews.com Initiates Coverage on Regis (NYSE:RGS)

StockNews.com assumed coverage on shares of Regis (NYSE:RGS) in a report issued on Friday. The brokerage issued a hold rating on the stock.

Regis Stock Down 10.2 %

NYSE:RGS opened at $0.38 on Friday. The business’s 50 day moving average is $0.62 and its two-hundred day moving average is $0.95. Regis has a 52 week low of $0.37 and a 52 week high of $1.85. The company has a market cap of $17.14 million, a PE ratio of -2.35 and a beta of 1.91.

Shares of Regis are going to reverse split before the market opens on Wednesday, November 29th. The 1-20 reverse split was announced on Wednesday, November 29th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 29th.

Regis (NYSE:RGS) last released its earnings results on Wednesday, August 23rd. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $55.72 million during the quarter, compared to the consensus estimate of $56.60 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, sell-side analysts expect that Regis will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Regis by 2.3% in the 2nd quarter. BlackRock Inc. now owns 471,482 shares of the company’s stock valued at $523,000 after acquiring an additional 10,419 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in Regis in the 2nd quarter valued at approximately $36,000. Texas Capital Bank Wealth Management Services Inc. acquired a new stake in Regis in the 2nd quarter valued at approximately $55,000. Latitude Advisors LLC increased its position in Regis by 43.0% in the 2nd quarter. Latitude Advisors LLC now owns 100,100 shares of the company’s stock valued at $111,000 after acquiring an additional 30,100 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Regis in the 1st quarter valued at approximately $334,000. Institutional investors own 23.12% of the company’s stock.

About Regis

Regis Corporation owns and franchises hair care salons in North America. The company operates through two segments, Franchise Salons and Company-Owned Salons. Its salons provide haircutting; styling, including shampooing and conditioning; hair coloring; and other services, as well as sells various hair care and other beauty products.