Stormborn Capital Management LLC Acquires 179,000 Shares of Boot Barn Holdings Inc (NYSE:BOOT)
Stormborn Capital Management LLC lifted its position in Boot Barn Holdings Inc (NYSE:BOOT) by 219.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,393 shares of the company’s stock after purchasing an additional 179,000 shares during the quarter. Boot Barn accounts for about 5.5% of Stormborn Capital Management LLC’s holdings, making the stock its 5th largest holding. Stormborn Capital Management LLC’s holdings in Boot Barn were worth $7,666,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of BOOT. Great West Life Assurance Co. Can purchased a new position in shares of Boot Barn in the 4th quarter worth about $41,000. NumerixS Investment Technologies Inc purchased a new position in shares of Boot Barn in the 4th quarter worth about $46,000. PNC Financial Services Group Inc. boosted its holdings in shares of Boot Barn by 106.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,541 shares of the company’s stock worth $60,000 after purchasing an additional 1,827 shares in the last quarter. Quantamental Technologies LLC boosted its holdings in shares of Boot Barn by 407.4% in the 1st quarter. Quantamental Technologies LLC now owns 2,740 shares of the company’s stock worth $81,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Boot Barn by 7.8% in the 4th quarter. Legal & General Group Plc now owns 5,058 shares of the company’s stock worth $86,000 after purchasing an additional 368 shares in the last quarter.
BOOT has been the subject of a number of research reports. Zacks Investment Research cut Boot Barn from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. ValuEngine upgraded Boot Barn from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Sidoti assumed coverage on Boot Barn in a report on Thursday, March 14th. They issued a “buy” rating for the company. Wells Fargo & Co set a $30.00 target price on Boot Barn and gave the company a “hold” rating in a report on Friday, May 17th. Finally, Piper Jaffray Companies increased their target price on Boot Barn from $33.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.29.
Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, May 15th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $192.76 million during the quarter, compared to analysts’ expectations of $189.29 million. Boot Barn had a return on equity of 14.65% and a net margin of 5.02%. Boot Barn’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. Analysts anticipate that Boot Barn Holdings Inc will post 1.51 EPS for the current year.
In related news, CEO James Grant Conroy sold 81,224 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $33.00, for a total transaction of $2,680,392.00. Following the completion of the sale, the chief executive officer now directly owns 25,868 shares in the company, valued at approximately $853,644. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.
About Boot Barn
Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.
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