Hussman Strategic Advisors Inc. Takes Position in BlackLine $BL

Hussman Strategic Advisors Inc. acquired a new position in BlackLine (NASDAQ:BL) in the third quarter, Holdings Channel reports. The fund acquired 42,000 shares of the technology company’s stock, valued at approximately $2,230,000.

Other hedge funds also recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in BlackLine during the 2nd quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in BlackLine in the second quarter valued at about $33,000. Versant Capital Management Inc raised its holdings in BlackLine by 110.4% in the third quarter. Versant Capital Management Inc now owns 667 shares of the technology company’s stock worth $35,000 after purchasing an additional 350 shares in the last quarter. CWM LLC raised its holdings in BlackLine by 117.3% in the third quarter. CWM LLC now owns 1,243 shares of the technology company’s stock worth $66,000 after purchasing an additional 671 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of BlackLine by 57.5% during the second quarter. Huntington National Bank now owns 1,235 shares of the technology company’s stock valued at $70,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

BlackLine Trading Down 2.5%

NASDAQ:BL opened at $53.15 on Wednesday. The company has a market capitalization of $3.16 billion, a P/E ratio of 47.88, a PEG ratio of 10.36 and a beta of 0.86. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 2.03. BlackLine has a 12 month low of $40.82 and a 12 month high of $66.25. The firm has a fifty day simple moving average of $56.05 and a 200-day simple moving average of $54.41.

BlackLine (NASDAQ:BL) last issued its earnings results on Thursday, November 6th. The technology company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. BlackLine had a return on equity of 14.51% and a net margin of 11.07%.The company had revenue of $178.29 million during the quarter, compared to analyst estimates of $178.11 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. BlackLine has set its FY 2025 guidance at 2.080-2.130 EPS and its Q4 2025 guidance at 0.580-0.610 EPS. On average, equities research analysts anticipate that BlackLine will post 0.9 earnings per share for the current year.

Analysts Set New Price Targets

BL has been the topic of a number of analyst reports. BMO Capital Markets cut their price objective on shares of BlackLine from $63.00 to $57.00 and set a “market perform” rating on the stock in a research report on Friday, November 7th. Rosenblatt Securities started coverage on BlackLine in a research report on Tuesday, December 2nd. They set a “buy” rating and a $65.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of BlackLine in a research report on Monday, December 29th. Zacks Research upgraded BlackLine from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target (down from $64.00) on shares of BlackLine in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.23.

BlackLine Company Profile

BlackLine, Inc is a leading provider of cloud-based software solutions designed to automate and modernize the finance and accounting function. The company’s flagship offering, the BlackLine Finance Controls and Automation Platform, enables organizations to streamline critical processes such as account reconciliations, journal entry management, intercompany accounting, and transaction matching. By delivering a centralized, real-time view of financial data, BlackLine helps companies improve operational efficiency, enhance compliance and strengthen internal controls.

Key products and services within the BlackLine platform include Account Reconciliation, Task Management, Transaction Matching, Journal Entry, and Intercompany Hub.