More specifically, according to Street Insider today, Goldman Sachs' Stephen Tanal downgraded GNC to "sell" from "neutral," and also reduced his price target on shares to $8 from $12 previously.
Full Answer
What happened to GNC stock price after bankruptcy?
Its stock price dropped to $0.54 on Wednesday following the bankruptcy news — a long, hard fall from its $49 high back in 2015. In a recent presentation for investors, GNC reported having $96 million in cash and $905 million in total debt.
Does GNC stock pay a dividend?
GNC does not currently pay a dividend. GNC does not have a long track record of dividend growth. In the past three months, GNC insiders have not sold or bought any company stock. Only 4.44% of the stock of GNC is held by insiders. Only 0.01% of the stock of GNC is held by institutions.
What is the ticker symbol for GNC?
GNC trades on the New York Stock Exchange (NYSE) under the ticker symbol "GNC." How much money does GNC make? GNC has a market capitalization of $0.00 and generates $2.07 billion in revenue each year.
What is the history of the GNC company?
GNC Holdings, Inc. has a strategic partnership with Harbin Pharmaceutical Group Holding Co., Ltd. and International Vitamin Corporation. The company was founded in 1935 and is headquartered in Pittsburgh, Pennsylvania. How did the Graincorp (ASX:GNC) share price double in 2021?
What is the stock price of GNC?
0.550GNC Overview GNC Holdings Inc stock price live 0.550, this page displays NYSE (GNC) stock exchange data.
Is GNC still on the stock market?
(NYSE: GNC) (the “Company”) reported consolidated revenue of $472.6 million in the first quarter of 2020, compared with consolidated... PITTSBURGH, May 07, 2020 (GLOBE NEWSWIRE) -- GNC Holdings, Inc. (NYSE: GNC) will release results for the first quarter of 2020 before the market opens on May 11, 2020.
Why is GNC stock so low?
GNC's top-line decline was driven by a combination of strategic store closures and a 0.6% decline in domestic same-store sales.
What happened to my GNC shares?
GNC Holdings filed bankruptcy on June 23, 2020. Harbin Pharmaceuticals, a large shareholder, submitted a "stalking horse bid" for the company as part of the filing. Shares were delisted and moved to the "pink sheets" where value has slowly decayed awaiting bankruptcy settlement. The common is now trading below $0.15.
Did Harbin buy GNC?
Bucked Up LFG is another product GNC has added to increase its offerings since being acquired by Harbin Pharmaceutical Group Holding Co Ltd.'s for $770m in September 2020.
Is GNC on the NYSE?
GNC trades on the New York Stock Exchange (NYSE) under the ticker symbol "GNC."
Who bought out GNC?
Harbin Pharmaceutical GroupIn September 2020, the bankruptcy court in Delaware approved the sale of GNC for $770 million to Harbin Pharmaceutical Group.
Who owns GNC today?
GNC is getting a reboot after its Chapter 11 last year and acquisition by its largest investor, Harbin Pharmaceutical Group. Harbin bought a major stake in GNC in 2018, helping to ease the company's debt load, leftover in part from multiple private equity acquisitions during the 2000s.
Who owns GNC Holdings?
Harbin Pharmaceutical GroupGNC / Parent organizationHarbin Pharmaceutical Group Co., Ltd. is a Chinese partially state-owned pharmaceutical manufacturer. Wikipedia
How were GNC's earnings last quarter?
GNC Holdings, Inc. (NYSE:GNC) released its earnings results on Monday, May, 11th. The specialty retailer reported ($0.19) earnings per share (EPS)...
Who are GNC's key executives?
GNC's management team includes the following people: Mr. Kenneth A. Martindale , Chairman & CEO (Age 59) Ms. Tricia K. Tolivar , Exec. VP & CFO...
Who are some of GNC's key competitors?
Some companies that are related to GNC include Tractor Supply (TSCO) , Ulta Beauty (ULTA) , Five Below (FIVE) , DICK'S Sporting Goods (DKS) ,...
What other stocks do shareholders of GNC own?
Based on aggregate information from My MarketBeat watchlists, some companies that other GNC investors own include Bank of America (BAC) , General...
What is GNC's stock symbol?
GNC trades on the New York Stock Exchange (NYSE) under the ticker symbol "GNC."
How much money does GNC make?
GNC (NYSE:GNC) has a market capitalization of $0.00 and generates $2.07 billion in revenue each year.
How many employees does GNC have?
GNC employs 12,400 workers across the globe.
What is GNC's official website?
The official website for GNC is www.gnc.com .
How can I contact GNC?
GNC's mailing address is 300 SIXTH AVENUE, PITTSBURGH PA, 15222 . The specialty retailer can be reached via phone at 412-288-4600 , via email at...
What happened
Shares of GNC Holdings Inc. (NYSE: GNC) fell as much as 12.4% early Friday, then partially recovered to trade down 8.4% as of 3:30 p.m. EST following the health and wellness retailer's comparatively massive pop on Thursday.
So what
I noted yesterday that the market's positive reaction to GNC's results seemed a tad "excessive" at first glance.
Now what
In any case, GNC stock is still down around 48% over the past year, and it sits around 92% below its five-year high set in late 2013. So it's no surprise that bullish investors might carry high hopes for market-beating gains if the company can return to even a fraction of its former glory.
What is the decline in GNC?
GNC's top-line decline was driven by a combination of strategic store closures and a 0.6% decline in domestic same-store sales. At the same time, international segment revenue climbed 12%, and investors were encouraged by a separate press release announcing a new strategic joint venture with International Vitamin Corporation (IVC). In February 2019, GNC also completed the final tranche of a previously announced $300 million investment in the company by China's Harbin Pharmaceutical.
Does GNC have financial guidance?
GNC opted not to provide specific financial guidance for the coming year. But during the subsequent conference call, management did add that the company plans to use most of its free cash flow in 2019 to pay down debt. GNC CFO Tricia Tolivar also noted the company is working with both of its aforementioned joint venture partners "on initiatives that will enhance our long-term strategy."
Who bought out GNC?
In mid-September GNC Holdings Inc., a Pittsburgh-based international health and wellness chain, sold to Harbin Pharmaceutical Group Holding Co., based in China, for $770 million. The transaction was approved in bankruptcy court. Where did this company come from and why did they buy out GNC? Harbin Pharmaceutical Group Holding Co. was initially an affiliate of GNC and owned about 40% of the company’s shares. When offered to buy out the company, Harbin also agreed to assume GNC’s liabilities. This meant a total of $220 million Harbin paid off for GNC’s debt and loans they had accumulated to stay in business over the years.
When did GNC file bankruptcy?
On June 23rd, 2020 GNC filed Chapter 11 bankruptcy to garner protection for the company against creditors it owed money to. The judge approved GNC’s request to sell the company to Harbin Pharmaceutical Group Holding Co. which kept the company from being auctioned off. After announcing its bankruptcy, GNC closed around 1,200 stores. GNC had over 5,200 retail locations in the U.S. alone.
How much money has GNC lost?
The vitamin retailer had already been struggling before the coronavirus-forced economic shutdown: GNC has lost more than $500 million over the past four years. But the pandemic, which forced the company to temporarily close 30% of its stores, made things worse.
How many stores did GNC close?
GNC, the 85-year old seller of vitamins and dietary supplements, filed for bankruptcy late Tuesday and said it plans to close as many as 1,374 stores, or nearly half of its company-owned locations, in the U.S. and Canada by the end of the year.
How much did GNC lose in 2020?
In mid-May, the company announced it lost $200 million in the first three months of 2020, up from a loss of just $15 million in the first quarter of last year. GNC emphasized in a press release that the company and its remaining stores will continue to be open for business. The company has been temporarily offering curbside pickup during ...
How much did GNC pay Ken Martindale?
The retailer also said in a filing Wednesday it had paid CEO Ken Martindale a $2.2 million bonus five days before filing for Chapter 11 bankruptcy protection in a federal court. GNC called the management payouts, which also went to the CFO and other top executives, "retention bonuses.".
How many GNC stores are closed in Florida?
GNC will also close 12 stores in Florida, including locations in Miami, Orlando and Tampa, and 11 locations in New York, including three in Manhattan. The list also includes 29 stores in Canada, including 14 in Ontario.
Is GNC a large company?
GNC joins a number of large companies, including the retailer Neiman Marcus and the car rental company Hertz, that have filed for bankruptcy since early May. GNC had nearly 5,800 locations at the end of last year. It also sells GNC products in an additional 1,200 Rite Aid locations.
Is GNC closing stores?
GNC's list of store closures is not known. But on Tuesday, the retailer updated a previously disclosed list of stores that are set to be shuttered. The list included 248 locations, including 27 stores in California, the most of any state. GNC will also close 12 stores in Florida, including locations in Miami, Orlando and Tampa, and 11 locations in New York, including three in Manhattan. The list also includes 29 stores in Canada, including 14 in Ontario.
