Divisadero Street Capital Management LP Has $23.19 Million Stock Holdings in Hims & Hers Health, Inc. $HIMS

Divisadero Street Capital Management LP decreased its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 58.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 465,093 shares of the company’s stock after selling 646,934 shares during the period. Hims & Hers Health makes up about 1.5% of Divisadero Street Capital Management LP’s portfolio, making the stock its 14th biggest position. Divisadero Street Capital Management LP’s holdings in Hims & Hers Health were worth $23,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Virtus Advisers LLC acquired a new stake in Hims & Hers Health in the second quarter valued at about $26,000. Quaker Wealth Management LLC acquired a new position in Hims & Hers Health during the second quarter worth about $29,000. Bessemer Group Inc. lifted its holdings in shares of Hims & Hers Health by 105.8% in the second quarter. Bessemer Group Inc. now owns 607 shares of the company’s stock worth $30,000 after acquiring an additional 312 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Hims & Hers Health in the 1st quarter valued at approximately $30,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Hims & Hers Health by 408.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 747 shares of the company’s stock valued at $37,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HIMS. UBS Group set a $32.00 price objective on shares of Hims & Hers Health in a research report on Tuesday, November 4th. Zacks Research cut shares of Hims & Hers Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Leerink Partnrs upgraded Hims & Hers Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Wall Street Zen downgraded Hims & Hers Health from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hims & Hers Health in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health presently has an average rating of “Hold” and an average target price of $45.27.

Hims & Hers Health Price Performance

Shares of NYSE:HIMS opened at $39.27 on Monday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.64 and a current ratio of 1.88. Hims & Hers Health, Inc. has a 52 week low of $23.97 and a 52 week high of $72.98. The firm has a market cap of $8.94 billion, a PE ratio of 72.72, a price-to-earnings-growth ratio of 7.75 and a beta of 2.41. The firm’s fifty day moving average is $45.76 and its 200-day moving average is $49.68.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, November 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $598.98 million for the quarter, compared to the consensus estimate of $578.99 million. Hims & Hers Health had a return on equity of 24.67% and a net margin of 6.05%.The firm’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. Sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Hims & Hers Health declared that its Board of Directors has authorized a share repurchase program on Monday, November 17th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Michael Chi sold 13,749 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $50.50, for a total value of $694,324.50. Following the sale, the insider directly owned 297,139 shares in the company, valued at $15,005,519.50. This represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $53.48, for a total transaction of $6,852,231.96. Following the sale, the chief executive officer directly owned 160,425 shares of the company’s stock, valued at $8,579,529. This represents a 44.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 616,431 shares of company stock valued at $32,924,482 over the last ninety days. 17.71% of the stock is owned by company insiders.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.