Bank of New York Mellon Corp Reduces Holdings in HSN, Inc. (HSNI)
Bank of New York Mellon Corp reduced its position in HSN, Inc. (NASDAQ:HSNI) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 782,721 shares of the specialty retailer’s stock after selling 1,930 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.49% of HSN worth $30,565,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its position in shares of HSN by 120.8% during the second quarter. Parametric Portfolio Associates LLC now owns 172,225 shares of the specialty retailer’s stock worth $5,494,000 after buying an additional 94,237 shares in the last quarter. Royal Bank of Canada grew its position in shares of HSN by 4.5% during the second quarter. Royal Bank of Canada now owns 121,260 shares of the specialty retailer’s stock worth $3,868,000 after buying an additional 5,175 shares in the last quarter. Havens Advisors LLC acquired a new position in shares of HSN during the third quarter worth about $1,300,000. US Bancorp DE grew its position in shares of HSN by 0.4% during the second quarter. US Bancorp DE now owns 4,345 shares of the specialty retailer’s stock worth $139,000 after buying an additional 19 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in shares of HSN during the second quarter worth about $1,297,000. 57.69% of the stock is owned by institutional investors.
A number of brokerages have recently commented on HSNI. Zacks Investment Research downgraded HSN from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. UBS lowered their price objective on HSN from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. B. Riley reissued a “hold” rating and set a $36.00 price objective on shares of HSN in a research report on Thursday, November 9th. Finally, BidaskClub downgraded HSN from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. HSN currently has a consensus rating of “Hold” and an average target price of $43.00.
Shares of HSN, Inc. (HSNI) opened at $40.85 on Monday. The firm has a market capitalization of $2,140.00, a P/E ratio of 18.40, a P/E/G ratio of 1.90 and a beta of 1.41. HSN, Inc. has a 52 week low of $30.90 and a 52 week high of $42.75. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.60 and a current ratio of 1.53.
HSN (NASDAQ:HSNI) last posted its earnings results on Wednesday, November 8th. The specialty retailer reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.07). The business had revenue of $782.56 million for the quarter, compared to analysts’ expectations of $804.04 million. HSN had a return on equity of 56.55% and a net margin of 3.29%. HSN’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS. analysts forecast that HSN, Inc. will post 2.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, December 5th. HSN’s payout ratio is 65.12%.
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HSN, Inc is an interactive multi-channel retailer. The Company markets and sells a range of third party and merchandise directly to consumers through various platforms, including television home shopping programing broadcast on the HSN television networks and other direct-response television marketing; catalogs, consisting of the Cornerstone portfolio of print catalogs, which includes, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements; Websites, which consist primarily of HSN.com, joymangano.com and the five branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.
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