Mackay Shields LLC raised its position in shares of Hibbett Sports, Inc. (NASDAQ:HIBB) by 43.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 190,400 shares of the company’s stock after purchasing an additional 58,000 shares during the quarter. Mackay Shields LLC owned 1.08% of Hibbett Sports worth $4,360,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its stake in shares of Hibbett Sports by 8.3% during the 3rd quarter. California Public Employees Retirement System now owns 105,079 shares of the company’s stock valued at $2,406,000 after purchasing an additional 8,068 shares during the period. State of Tennessee Treasury Department grew its stake in shares of Hibbett Sports by 6.0% during the 3rd quarter. State of Tennessee Treasury Department now owns 18,642 shares of the company’s stock valued at $427,000 after purchasing an additional 1,051 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Hibbett Sports during the 3rd quarter valued at about $41,000. Wakefield Asset Management LLLP grew its stake in shares of Hibbett Sports by 2.5% during the 3rd quarter. Wakefield Asset Management LLLP now owns 23,764 shares of the company’s stock valued at $544,000 after purchasing an additional 582 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Hibbett Sports by 4.4% during the 3rd quarter. Rhumbline Advisers now owns 59,483 shares of the company’s stock valued at $1,362,000 after purchasing an additional 2,507 shares during the period.
A number of equities research analysts have issued reports on the company. BidaskClub downgraded Hibbett Sports from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Bank of America cut their price target on Hibbett Sports from $20.00 to $14.00 and set an “underperform” rating for the company in a research note on Monday, August 26th. Zacks Investment Research downgraded Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $21.00 price target for the company. in a research note on Monday, July 29th. Robert W. Baird set a $17.00 price objective on Hibbett Sports and gave the company a “hold” rating in a research report on Monday, August 26th. Finally, ValuEngine cut Hibbett Sports from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $20.26.
Shares of HIBB stock traded down $0.71 during trading hours on Friday, reaching $23.68. 374,200 shares of the company traded hands, compared to its average volume of 684,886. The company has a market cap of $463.30 million, a P/E ratio of 13.38, a P/E/G ratio of 1.10 and a beta of 0.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.64 and a quick ratio of 0.48. The firm has a 50-day moving average price of $22.97 and a 200 day moving average price of $20.07. Hibbett Sports, Inc. has a 12-month low of $13.08 and a 12-month high of $26.40.
Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Friday, August 23rd. The company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.03. The firm had revenue of $252.40 million for the quarter, compared to the consensus estimate of $255.71 million. Hibbett Sports had a return on equity of 11.89% and a net margin of 2.39%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Sell-side analysts predict that Hibbett Sports, Inc. will post 2.19 EPS for the current year.
In other news, SVP Jared S. Briskin sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $26.00, for a total transaction of $26,000.00. Following the transaction, the senior vice president now owns 3,508 shares of the company’s stock, valued at approximately $91,208. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Cathy E. Pryor sold 1,227 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $23.00, for a total value of $28,221.00. Following the transaction, the vice president now directly owns 11,446 shares in the company, valued at approximately $263,258. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,227 shares of company stock worth $329,221. Corporate insiders own 2.00% of the company’s stock.
About Hibbett Sports
Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.
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