Crestline Management LP purchased a new stake in Blackhawk Network Holdings Inc (NASDAQ:HAWK) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 91,869 shares of the credit services provider’s stock, valued at approximately $3,275,000. Blackhawk Network comprises approximately 0.3% of Crestline Management LP’s investment portfolio, making the stock its 25th largest position. Crestline Management LP owned approximately 0.16% of Blackhawk Network as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. PEAK6 Investments L.P. acquired a new position in shares of Blackhawk Network in the 4th quarter valued at $711,000. Millennium Management LLC lifted its stake in shares of Blackhawk Network by 1,722.5% in the 4th quarter. Millennium Management LLC now owns 646,573 shares of the credit services provider’s stock valued at $23,050,000 after purchasing an additional 611,095 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Blackhawk Network by 1.6% in the 4th quarter. Teachers Advisors LLC now owns 98,474 shares of the credit services provider’s stock valued at $3,511,000 after purchasing an additional 1,562 shares during the last quarter. Prana Capital Management LP acquired a new position in shares of Blackhawk Network in the 4th quarter valued at $4,160,000. Finally, Paloma Partners Management Co lifted its stake in Blackhawk Network by 71.7% during the 4th quarter. Paloma Partners Management Co now owns 20,447 shares of the credit services provider’s stock worth $729,000 after acquiring an additional 8,536 shares in the last quarter. 96.25% of the stock is currently owned by institutional investors and hedge funds.
Blackhawk Network Holdings Inc (NASDAQ HAWK) remained flat at $$44.75 during mid-day trading on Wednesday. 1,252,203 shares of the stock were exchanged, compared to its average volume of 2,643,755. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $2,534.74, a price-to-earnings ratio of -16.16, a price-to-earnings-growth ratio of 4.60 and a beta of 0.72. Blackhawk Network Holdings Inc has a 12 month low of $32.60 and a 12 month high of $47.00.
Several research firms recently issued reports on HAWK. Jefferies Group lowered Blackhawk Network from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. SunTrust Banks lowered Blackhawk Network from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Citigroup lowered Blackhawk Network from a “buy” rating to a “hold” rating and set a $45.25 target price on the stock. in a research note on Monday, January 22nd. First Analysis lowered Blackhawk Network from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets lowered Blackhawk Network from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $51.00 to $45.00 in a research note on Monday, January 22nd. Thirteen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Blackhawk Network presently has a consensus rating of “Hold” and a consensus target price of $46.10.
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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