Buy: GNC Holdings (GNC)
From Cabot Benjamin Graham Value Investor
GNC Holdings (GNC) shares dropped 7% on February 16 after the company released disappointing fourth-quarter results and suspended its dividend. Shares turned around quickly, though, and have increased 17% during the past week. Interim CEO Robert Moran purchased 600,000 shares on February 21, which investors interpreted as a vote of confidence that GNC’s prospects are improving. Michael Hines, a GNC director, purchased 125,000 shares on the same day. Buy at 10.61 or below.
J. Royden Ward, Cabot Benjamin Graham Value Investor, www.cabotwealth.com, 978-745-5532, February 24, 2017