NEW YORK (TheStreet) -- Herbalife (HLF) - Get Herbalife Nutrition Ltd. Report stock was up 6.38% to $64.35 in after-hours trading on Friday after billionaire investor Carl Icahn bought 2.3 million more shares of the Grand Cayman-based nutrition company earlier today, according to CNBC.
The stock had sold off earlier today after Pershing Square's Bill Ackman said he was contacted by Jefferies about purchasing Icahn'sstake in the company.
Icahn has since denied the allegations, claiming that while many investment bankers "frequently make bids for our large positions ... I have never given Jefferies an order to sell any of our Herbalife shares," CNBC reports.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
Herbalife's strengths such as its notable return on equity, revenue growth and good cash flow from operations were countered by weaknesses including deteriorating net income and generally higher debt management risk.
You can view the full analysis from the report here: HLF
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.