The Finish Line Inc. (FINL) Sees Large Volume Increase
The Finish Line Inc. (NASDAQ:FINL) saw an uptick in trading volume on Tuesday . 844,763 shares traded hands during trading, an increase of 23% from the previous session’s volume of 687,358 shares.The stock last traded at $23.44 and had previously closed at $23.11.
FINL has been the subject of a number of recent analyst reports. Zacks Investment Research raised The Finish Line from a “sell” rating to a “hold” rating in a research report on Monday, June 27th. Robert W. Baird reissued a “hold” rating and set a $20.00 price objective on shares of The Finish Line in a research report on Thursday, June 23rd. Jefferies Group reissued a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of The Finish Line in a research report on Monday, June 27th. BB&T Corp. reissued a “buy” rating and set a $24.00 price objective on shares of The Finish Line in a research report on Tuesday, June 28th. Finally, Citigroup Inc. reissued a “buy” rating and set a $23.00 price objective on shares of The Finish Line in a research report on Wednesday, June 22nd. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The Finish Line currently has an average rating of “Buy” and an average price target of $21.61.
The firm’s 50 day moving average price is $21.57 and its 200 day moving average price is $19.54. The stock has a market capitalization of $978.54 million and a P/E ratio of 59.47.
The Finish Line (NASDAQ:FINL) last released its quarterly earnings data on Friday, June 24th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The firm earned $453.50 million during the quarter. The Finish Line’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. On average, equities analysts expect that The Finish Line Inc. will post $1.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 26th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.69%.
In other news, Director Catherine A. Langham sold 18,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $20.30, for a total value of $365,400.00. Following the transaction, the director now directly owns 14,436 shares in the company, valued at approximately $293,050.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen Goldsmith sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $21.73, for a total value of $86,920.00. Following the completion of the transaction, the director now owns 36,651 shares in the company, valued at $796,426.23. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in The Finish Line during the fourth quarter worth about $1,201,000. Rhumbline Advisers raised its stake in The Finish Line by 3.7% in the fourth quarter. Rhumbline Advisers now owns 69,545 shares of the company’s stock worth $1,257,000 after buying an additional 2,510 shares during the period. California Public Employees Retirement System raised its stake in The Finish Line by 2.7% in the fourth quarter. California Public Employees Retirement System now owns 200,559 shares of the company’s stock worth $3,626,000 after buying an additional 5,200 shares during the period. Finally, Systematic Financial Management LP raised its stake in The Finish Line by 4.8% in the fourth quarter. Systematic Financial Management LP now owns 389,229 shares of the company’s stock worth $7,037,000 after buying an additional 17,686 shares during the period.
Finish Line, Inc is a specialty retailer. The Company operates two retail divisions: the Finish Line and JackRabbit brands. Finish Line is a retailer of athletic shoes, apparel and accessories. The Company operates approximately 590 Finish Line stores, which average over 5,550 square feet, in approximately 40 United States’ states and Puerto Rico.
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