Prana Capital Management LP acquired a new stake in Blackhawk Network Holdings Inc (NASDAQ:HAWK) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 116,696 shares of the credit services provider’s stock, valued at approximately $4,160,000. Blackhawk Network comprises about 1.4% of Prana Capital Management LP’s holdings, making the stock its 20th biggest holding. Prana Capital Management LP owned approximately 0.21% of Blackhawk Network as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. First Quadrant L P CA bought a new stake in Blackhawk Network in the 4th quarter valued at $120,000. BB&T Securities LLC bought a new stake in Blackhawk Network in the 3rd quarter valued at $204,000. Aperio Group LLC bought a new stake in Blackhawk Network in the 3rd quarter valued at $205,000. SG Americas Securities LLC raised its stake in Blackhawk Network by 170.6% in the 3rd quarter. SG Americas Securities LLC now owns 6,743 shares of the credit services provider’s stock valued at $295,000 after acquiring an additional 4,251 shares during the period. Finally, Stone Ridge Asset Management LLC bought a new stake in Blackhawk Network in the 4th quarter valued at $369,000. Institutional investors and hedge funds own 96.25% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Blackhawk Network from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, December 13th. BidaskClub upgraded Blackhawk Network from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Mizuho restated a “hold” rating and issued a $36.00 price target on shares of Blackhawk Network in a research note on Monday, February 26th. Citigroup cut Blackhawk Network from a “buy” rating to a “hold” rating and set a $45.25 price target on the stock. in a research note on Monday, January 22nd. Finally, Credit Suisse Group increased their price target on Blackhawk Network from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Thirteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Blackhawk Network presently has an average rating of “Hold” and a consensus target price of $46.10.
Blackhawk Network (NASDAQ:HAWK) last released its earnings results on Tuesday, February 27th. The credit services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.04. The company had revenue of $423.18 million for the quarter, compared to analyst estimates of $384.70 million. Blackhawk Network had a negative return on equity of 18.94% and a negative net margin of 6.98%. sell-side analysts anticipate that Blackhawk Network Holdings Inc will post 0.55 earnings per share for the current year.
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About Blackhawk Network
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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