Point72 Asset Management L.P. Sells 50,600 Shares of Blackhawk Network Holdings Inc (HAWK)
Point72 Asset Management L.P. cut its stake in shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 900,300 shares of the credit services provider’s stock after selling 50,600 shares during the quarter. Point72 Asset Management L.P. owned 1.58% of Blackhawk Network worth $39,433,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Blackhawk Network by 2.4% during the second quarter. Vanguard Group Inc. now owns 4,523,748 shares of the credit services provider’s stock worth $197,236,000 after purchasing an additional 105,653 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Blackhawk Network by 2.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,751,904 shares of the credit services provider’s stock worth $76,733,000 after purchasing an additional 40,322 shares during the period. Newbrook Capital Advisors LP acquired a new stake in shares of Blackhawk Network during the second quarter worth $52,890,000. State Street Corp lifted its holdings in shares of Blackhawk Network by 6.7% during the second quarter. State Street Corp now owns 1,094,994 shares of the credit services provider’s stock worth $47,740,000 after purchasing an additional 68,362 shares during the period. Finally, Elk Creek Partners LLC lifted its holdings in shares of Blackhawk Network by 3.4% during the third quarter. Elk Creek Partners LLC now owns 771,162 shares of the credit services provider’s stock worth $33,777,000 after purchasing an additional 25,156 shares during the period. 96.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) opened at $35.15 on Wednesday. Blackhawk Network Holdings Inc has a fifty-two week low of $32.60 and a fifty-two week high of $46.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $1,945.84, a price-to-earnings ratio of 60.09, a price-to-earnings-growth ratio of 5.50 and a beta of 0.48.
Blackhawk Network (NASDAQ:HAWK) last released its earnings results on Wednesday, October 11th. The credit services provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Blackhawk Network had a positive return on equity of 4.12% and a negative net margin of 0.14%. The company had revenue of $419.30 million during the quarter, compared to the consensus estimate of $439.32 million. During the same quarter last year, the company earned $0.14 earnings per share. Blackhawk Network’s quarterly revenue was up 16.0% compared to the same quarter last year. equities research analysts expect that Blackhawk Network Holdings Inc will post 0.41 EPS for the current year.
Several equities research analysts recently weighed in on the company. UBS downgraded Blackhawk Network from an “outperform” rating to a “market perform” rating in a report on Thursday, October 12th. Mizuho downgraded Blackhawk Network from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a report on Wednesday, October 18th. Raymond James Financial reaffirmed a “market perform” rating on shares of Blackhawk Network in a report on Thursday, October 12th. BidaskClub downgraded Blackhawk Network from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Argus decreased their price target on Blackhawk Network from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.62.
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About Blackhawk Network
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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