Insider Buying: Hibbett Sports, Inc. (HIBB) Director Buys $125,900.00 in Stock
Hibbett Sports, Inc. (NASDAQ:HIBB) Director Ralph T. Parks purchased 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was acquired at an average cost of $12.59 per share, with a total value of $125,900.00. Following the acquisition, the director now owns 22,802 shares of the company’s stock, valued at approximately $287,077.18. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Hibbett Sports, Inc. (HIBB) opened at 12.75 on Monday. Hibbett Sports, Inc. has a 12-month low of $9.40 and a 12-month high of $45.85. The company’s 50 day moving average price is $14.39 and its 200-day moving average price is $22.83. The firm has a market cap of $264.96 million, a P/E ratio of 6.23 and a beta of 0.76.
Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings results on Friday, August 18th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The firm had revenue of $188 million for the quarter, compared to the consensus estimate of $190.31 million. Hibbett Sports had a return on equity of 13.38% and a net margin of 4.68%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. On average, equities research analysts anticipate that Hibbett Sports, Inc. will post $1.30 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in HIBB. JPMorgan Chase & Co. lifted its position in Hibbett Sports by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock worth $123,000 after acquiring an additional 291 shares during the period. Mason Street Advisors LLC lifted its position in Hibbett Sports by 5.0% during the 1st quarter. Mason Street Advisors LLC now owns 5,135 shares of the company’s stock worth $151,000 after acquiring an additional 245 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Hibbett Sports by 52.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the company’s stock worth $161,000 after acquiring an additional 2,650 shares during the period. Schroder Investment Management Group lifted its position in Hibbett Sports by 215.0% during the 1st quarter. Schroder Investment Management Group now owns 6,300 shares of the company’s stock worth $188,000 after acquiring an additional 4,300 shares during the period. Finally, UBS Group AG lifted its position in Hibbett Sports by 135.8% during the 1st quarter. UBS Group AG now owns 6,379 shares of the company’s stock worth $188,000 after acquiring an additional 3,674 shares during the period.
Several equities research analysts have weighed in on the company. Forward View downgraded Hibbett Sports from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Stifel Nicolaus reissued a “hold” rating and issued a $12.00 price target (down previously from $17.00) on shares of Hibbett Sports in a report on Sunday, August 20th. Zacks Investment Research raised Hibbett Sports from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, July 24th. MKM Partners reissued a “neutral” rating and issued a $24.00 price target (down previously from $27.00) on shares of Hibbett Sports in a report on Monday, May 22nd. Finally, Sidoti raised Hibbett Sports from a “neutral” rating to a “buy” rating in a report on Friday, July 14th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Hibbett Sports has a consensus rating of “Hold” and a consensus price target of $21.89.
About Hibbett Sports
Hibbett Sports, Inc operates athletic specialty stores in small and mid-sized markets in the South, Southwest, Mid-Atlantic and the Midwest regions of the United States. As of January 28, 2017, the Company had operated 1,078 stores consisting of 1,059 Hibbett Sports stores and 19 smaller-format Sports Additions athletic shoe stores in 35 states.
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