Comerica Bank Purchases 2,247 Shares of HSN, Inc. (HSNI)
Comerica Bank boosted its position in shares of HSN, Inc. (NASDAQ:HSNI) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 91,219 shares of the specialty retailer’s stock after buying an additional 2,247 shares during the period. Comerica Bank owned approximately 0.17% of HSN worth $3,612,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Suntrust Banks Inc. boosted its position in shares of HSN by 6.2% in the first quarter. Suntrust Banks Inc. now owns 106,068 shares of the specialty retailer’s stock worth $3,934,000 after buying an additional 6,200 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of HSN by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 782,342 shares of the specialty retailer’s stock worth $29,025,000 after buying an additional 36,456 shares in the last quarter. US Bancorp DE boosted its position in shares of HSN by 5.5% in the first quarter. US Bancorp DE now owns 4,326 shares of the specialty retailer’s stock worth $160,000 after buying an additional 226 shares in the last quarter. First Trust Advisors LP boosted its position in shares of HSN by 99.7% in the first quarter. First Trust Advisors LP now owns 59,909 shares of the specialty retailer’s stock worth $2,223,000 after buying an additional 29,907 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its position in shares of HSN by 1.6% in the first quarter. State Treasurer State of Michigan now owns 13,000 shares of the specialty retailer’s stock worth $482,000 after buying an additional 200 shares in the last quarter. 57.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HSN, Inc. (HSNI) opened at 36.60 on Thursday. The stock has a market cap of $1.92 billion, a PE ratio of 16.41 and a beta of 1.34. The company’s 50-day moving average price is $38.09 and its 200-day moving average price is $36.09. HSN, Inc. has a one year low of $30.75 and a one year high of $43.93.
HSN (NASDAQ:HSNI) last posted its earnings results on Thursday, August 3rd. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. HSN had a net margin of 3.36% and a return on equity of 64.60%. The business had revenue of $821.40 million for the quarter, compared to analyst estimates of $831.18 million. During the same period in the prior year, the company posted $0.74 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts anticipate that HSN, Inc. will post $2.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, September 1st. HSN’s payout ratio is currently 63.06%.
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A number of brokerages have recently commented on HSNI. Maxim Group set a $61.00 price target on HSN and gave the company a “buy” rating in a research report on Friday, July 7th. Sidoti cut HSN from a “buy” rating to a “neutral” rating in a research report on Thursday, July 6th. FBR & Co increased their price objective on HSN from $35.00 to $40.00 and gave the stock a “mkt perform” rating in a report on Wednesday, July 12th. Zacks Investment Research cut HSN from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. Finally, Aegis raised HSN from a “hold” rating to a “buy” rating in a report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.38.
HSN Company Profile
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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