Hibbett Sports Inc. (HIBB) Stock Price Down 2.4% Following Insider Selling
Hibbett Sports Inc. (NASDAQ:HIBB) shares fell 2.4% on Monday following insider selling activity. The stock traded as low as $38.70 and last traded at $39.20, with a volume of 92,175 shares trading hands. The stock had previously closed at $40.16.
Specifically, VP Cathy E. Pryor sold 2,500 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the vice president now directly owns 17,108 shares in the company, valued at approximately $684,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Newsome sold 10,000 shares of the business’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $39.97, for a total transaction of $399,700.00. Following the transaction, the director now owns 29,882 shares of the company’s stock, valued at $1,194,383.54. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
A number of research firms have recently commented on HIBB. Forward View restated a “hold” rating and set a $35.00 price target on shares of Hibbett Sports in a research report on Sunday, August 14th. B. Riley restated a “neutral” rating and set a $42.00 price target on shares of Hibbett Sports in a research report on Saturday, August 27th. Piper Jaffray Cos. reduced their price target on shares of Hibbett Sports from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Zacks Investment Research lowered shares of Hibbett Sports from a “buy” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, BMO Capital Markets reduced their price target on shares of Hibbett Sports from $47.00 to $37.00 and set a “market perform” rating for the company in a research report on Thursday, August 25th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.18.
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The company’s 50-day moving average is $39.95 and its 200 day moving average is $36.46. The stock has a market capitalization of $864.09 million, a PE ratio of 12.82 and a beta of 1.05.
Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, August 19th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company earned $206.90 million during the quarter. Hibbett Sports had a net margin of 7.32% and a return on equity of 22.04%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. On average, analysts predict that Hibbett Sports Inc. will post $3.00 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Monarch Partners Asset Management LLC bought a new position in Hibbett Sports during the second quarter valued at $2,008,000. Menta Capital LLC boosted its position in Hibbett Sports by 15.2% in the first quarter. Menta Capital LLC now owns 15,944 shares of the company’s stock valued at $572,000 after buying an additional 2,100 shares during the last quarter. UBS Group AG boosted its position in Hibbett Sports by 1.2% in the first quarter. UBS Group AG now owns 68,717 shares of the company’s stock valued at $2,466,000 after buying an additional 846 shares during the last quarter. AlphaOne Investment Services LLC boosted its position in Hibbett Sports by 54.5% in the first quarter. AlphaOne Investment Services LLC now owns 81,600 shares of the company’s stock valued at $2,929,000 after buying an additional 28,800 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Hibbett Sports by 2.8% in the first quarter. Prudential Financial Inc. now owns 54,857 shares of the company’s stock valued at $1,969,000 after buying an additional 1,500 shares during the last quarter.
About Hibbett Sports
Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores.
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