Regis (NASDAQ:RGS) Stock Price Down 3.6% – Here’s Why

Regis Corp (NASDAQ:RGS) shares traded down 3.6% during mid-day trading on Tuesday . The company traded as low as $26.00 and last traded at $26.50. 10,579 shares were traded during mid-day trading, an increase of 75% from the average daily volume of 6,060 shares. The stock had previously closed at $27.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RGS. Weiss Ratings lowered Regis from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 29th. Lake Street Capital initiated coverage on shares of Regis in a research note on Tuesday, May 26th. They issued a “buy” rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Regis Stock Up 4.8%

The company has a debt-to-equity ratio of 1.36, a current ratio of 0.59 and a quick ratio of 0.57. The stock has a market capitalization of $71.95 million, a P/E ratio of 0.66 and a beta of 1.37. The firm has a 50 day moving average of $27.65 and a 200-day moving average of $25.76.

Regis (NASDAQ:RGS) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.87. The company had revenue of $52.41 million during the quarter, compared to the consensus estimate of $123.65 million. Regis had a return on equity of 3.60% and a net margin of 52.01%.

Hedge Funds Weigh In On Regis

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mink Brook Asset Management LLC grew its position in Regis by 653.0% in the fourth quarter. Mink Brook Asset Management LLC now owns 69,011 shares of the company’s stock valued at $1,915,000 after acquiring an additional 59,846 shares during the period. Kent Lake PR LLC bought a new position in shares of Regis during the second quarter valued at $412,000. DRW Securities LLC bought a new position in shares of Regis during the fourth quarter valued at $247,000. Renaissance Technologies LLC boosted its stake in shares of Regis by 12.7% in the 1st quarter. Renaissance Technologies LLC now owns 15,044 shares of the company’s stock valued at $371,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Regis by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 26,695 shares of the company’s stock worth $741,000 after purchasing an additional 478 shares during the last quarter. 31.50% of the stock is owned by institutional investors.

About Regis

Regis (NASDAQ: RGS) is a company that owns, operates and franchises a portfolio of hair salon and beauty service brands. Its business centers on providing haircutting, styling, coloring and other salon services through both company-owned and franchised locations. The company’s brand portfolio includes well-known names in the haircut and salon market that serve a range of customer segments from value-focused walk-in haircuts to full-service salon experiences.

Regis generates revenue through salon operations, franchise fees and the sale of professional hair-care products and retail items.