LOS ANGELES - Herbalife Ltd. (NYSE: NYSE:HLF), a global health and wellness company, announced the return of Michael Levitt to its Board of Directors, starting from March 1, 2024. Levitt, who has extensive experience in the finance industry, previously held the position of Lead Director on Herbalife's Board from 2011 to 2014.
Michael Johnson, Chairman and CEO of Herbalife, expressed his pleasure at Levitt's comeback, citing his deep financial knowledge and prior engagement with the company's business as assets that will enhance the board's strength. Levitt brings a wealth of experience from his current role as Chairman of Irradiant Partners, LP, an investment management firm, and his previous leadership positions at notable investment companies including Kayne Anderson Capital Advisors, LP, and Apollo Global Management (NYSE:APO), LLC.
Levitt is enthusiastic about rejoining the board during what he describes as a transformational period in Herbalife's history, looking forward to contributing to its future growth.
The company also acknowledged Kevin Jones for his contributions during his tenure on the board since 2021, highlighting his valuable insights and dedication to Herbalife's mission.
Herbalife has been operating since 1980, providing nutrition products and a business opportunity for independent distributors.
The information provided is based on a press release statement.
InvestingPro Insights
As Herbalife Ltd. (NYSE: HLF) welcomes the return of Michael Levitt to its Board of Directors, the company's financial health is a point of interest for investors and market watchers alike. According to real-time data from InvestingPro, Herbalife currently holds a market capitalization of 824.87 million USD, which is indicative of the company's size and market value.
Investors may find the company's Price-to-Earnings (P/E) Ratio particularly compelling; the P/E Ratio stands at a low 5.78, while the adjusted P/E Ratio for the last twelve months as of Q4 2023 is even lower at 4.56. This suggests that the stock might be undervalued relative to its earnings, which is corroborated by one of the InvestingPro Tips highlighting that the stock is trading at a low earnings multiple. Additionally, despite recent revenue contraction, with a -2.73% change in the last twelve months as of Q4 2023, the company's gross profit margin remains strong at 43.7%, reflecting its ability to maintain profitability on its sales.
InvestingPro Tips also indicate that Herbalife's stock has experienced significant price declines over the past year, including a -59.04% one-year price total return as of the current date. This could be a signal for value investors, especially considering another tip that suggests the relative strength index (RSI) points to the stock being in oversold territory.
For those interested in further insights, InvestingPro offers additional tips on Herbalife, including upcoming earnings predictions and shareholder yield analyses. There are 11 more tips available, which could be especially valuable for investors considering this period of transformation that Michael Levitt is set to navigate. Readers can unlock these exclusive insights with a special offer: use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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