Blackhawk Network Sees Unusually Large Options Volume (HAWK)
Blackhawk Network Holdings Inc (NASDAQ:HAWK) saw unusually large options trading on Thursday. Investors bought 32,417 call options on the company. This represents an increase of approximately 12,514% compared to the average daily volume of 257 call options.
A number of brokerages have commented on HAWK. BidaskClub upgraded Blackhawk Network from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 30th. Zacks Investment Research upgraded Blackhawk Network from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, December 13th. Deutsche Bank reiterated a “buy” rating and issued a $51.00 price objective on shares of Blackhawk Network in a research report on Friday, November 3rd. Mizuho downgraded Blackhawk Network from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research report on Wednesday, October 18th. Finally, Argus reduced their price objective on Blackhawk Network from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.17.
Several institutional investors have recently bought and sold shares of the stock. Newbrook Capital Advisors LP acquired a new stake in Blackhawk Network during the 2nd quarter valued at $52,890,000. Castleark Management LLC acquired a new stake in Blackhawk Network during the 2nd quarter valued at $14,290,000. Penn Capital Management Co. Inc. increased its holdings in Blackhawk Network by 961.7% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 208,672 shares of the credit services provider’s stock valued at $9,213,000 after purchasing an additional 189,018 shares in the last quarter. Yost Capital Management L.L.C. increased its holdings in Blackhawk Network by 37.7% during the 2nd quarter. Yost Capital Management L.L.C. now owns 613,890 shares of the credit services provider’s stock valued at $26,767,000 after purchasing an additional 168,090 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Blackhawk Network by 53.7% during the 2nd quarter. Renaissance Technologies LLC now owns 327,549 shares of the credit services provider’s stock valued at $14,281,000 after purchasing an additional 114,496 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.
Blackhawk Network (NASDAQ:HAWK) last posted its earnings results on Wednesday, October 11th. The credit services provider reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The business had revenue of $419.30 million during the quarter, compared to the consensus estimate of $439.32 million. Blackhawk Network had a positive return on equity of 4.12% and a negative net margin of 0.14%. Blackhawk Network’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. analysts forecast that Blackhawk Network will post 0.41 earnings per share for the current fiscal year.
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Blackhawk Network Company Profile
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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