Blackhawk Network Holdings, Inc. (HAWK) Downgraded to “C” at TheStreet
Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a research report issued to clients and investors on Tuesday.
A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Blackhawk Network Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub lowered shares of Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup Inc. raised shares of Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and upped their price objective for the company from $39.00 to $47.00 in a research note on Friday, May 19th. Deutsche Bank AG upped their price objective on shares of Blackhawk Network Holdings from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, First Analysis upped their price objective on shares of Blackhawk Network Holdings from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $40.69.
Blackhawk Network Holdings (NASDAQ HAWK) traded up 1.90% during trading on Tuesday, hitting $42.85. 385,903 shares of the stock were exchanged. The stock’s 50-day moving average price is $42.40 and its 200-day moving average price is $39.02. The firm’s market cap is $2.41 billion. Blackhawk Network Holdings has a 12-month low of $28.88 and a 12-month high of $44.90.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings data on Wednesday, April 26th. The credit services provider reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. Blackhawk Network Holdings had a negative net margin of 0.27% and a positive return on equity of 8.36%. The company had revenue of $407.20 million during the quarter, compared to analyst estimates of $379.13 million. During the same period in the prior year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that Blackhawk Network Holdings will post $1.65 EPS for the current year.
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In related news, Director Robert B. Henske purchased 3,500 shares of Blackhawk Network Holdings stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $41.57 per share, with a total value of $145,495.00. Following the completion of the transaction, the director now directly owns 4,500 shares of the company’s stock, valued at $187,065. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roche L. Talbott Hoskins sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $41.25, for a total transaction of $825,000.00. Following the completion of the sale, the insider now directly owns 240,931 shares of the company’s stock, valued at $9,938,403.75. The disclosure for this sale can be found here. Insiders sold 77,153 shares of company stock valued at $3,198,121 over the last three months. 3.80% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Atria Investments LLC increased its position in Blackhawk Network Holdings by 3.0% in the first quarter. Atria Investments LLC now owns 10,428 shares of the credit services provider’s stock worth $423,000 after buying an additional 308 shares in the last quarter. Teachers Advisors LLC increased its position in Blackhawk Network Holdings by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 90,750 shares of the credit services provider’s stock worth $3,419,000 after buying an additional 2,159 shares in the last quarter. Norges Bank purchased a new position in Blackhawk Network Holdings during the fourth quarter worth approximately $18,577,000. Ladenburg Thalmann Financial Services Inc. increased its position in Blackhawk Network Holdings by 1.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,675 shares of the credit services provider’s stock worth $100,000 after buying an additional 35 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new position in Blackhawk Network Holdings during the fourth quarter worth approximately $313,000. 99.58% of the stock is owned by institutional investors and hedge funds.
About Blackhawk Network Holdings
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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