K2 Principal Fund L.P. Buys Shares of 23,617 HSN, Inc. (HSNI)
K2 Principal Fund L.P. bought a new stake in HSN, Inc. (NASDAQ:HSNI) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 23,617 shares of the specialty retailer’s stock, valued at approximately $922,000.
Several other hedge funds have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of HSN by 47.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 7,180 shares of the specialty retailer’s stock valued at $280,000 after purchasing an additional 2,300 shares during the period. American International Group Inc. raised its holdings in shares of HSN by 2.8% in the 3rd quarter. American International Group Inc. now owns 87,014 shares of the specialty retailer’s stock valued at $3,398,000 after purchasing an additional 2,358 shares during the period. Kassirer Asset Management Corp bought a new stake in shares of HSN in the 3rd quarter valued at about $1,455,000. Principal Financial Group Inc. raised its holdings in shares of HSN by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 138,136 shares of the specialty retailer’s stock valued at $5,394,000 after purchasing an additional 7,540 shares during the period. Finally, Harvest Management LLC bought a new stake in shares of HSN in the 3rd quarter valued at about $3,807,000. 52.81% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on HSNI. BidaskClub cut shares of HSN from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. B. Riley reaffirmed a “hold” rating and issued a $36.00 target price on shares of HSN in a report on Thursday, November 9th. UBS AG dropped their target price on shares of HSN from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, Zacks Investment Research cut shares of HSN from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.00.
HSN, Inc. (NASDAQ HSNI) opened at $41.35 on Friday. The firm has a market cap of $2,170.00, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The company has a quick ratio of 0.60, a current ratio of 1.53 and a debt-to-equity ratio of 2.02. HSN, Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $42.75.
HSN (NASDAQ:HSNI) last released its quarterly earnings results on Wednesday, November 8th. The specialty retailer reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.07). The company had revenue of $782.56 million during the quarter, compared to the consensus estimate of $804.04 million. HSN had a net margin of 3.29% and a return on equity of 56.55%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. equities research analysts anticipate that HSN, Inc. will post 2.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, December 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.40 annualized dividend and a yield of 3.39%. HSN’s dividend payout ratio is currently 65.12%.
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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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