First Merchants Corp decreased its position in Hibbett Sports, Inc. (NASDAQ:HIBB) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,870 shares of the company’s stock after selling 2,373 shares during the period. First Merchants Corp owned 0.09% of Hibbett Sports worth $726,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HIBB. Bank of Montreal Can purchased a new position in shares of Hibbett Sports during the second quarter worth $135,000. M&T Bank Corp purchased a new position in shares of Hibbett Sports during the first quarter worth $218,000. Legal & General Group Plc raised its position in shares of Hibbett Sports by 21.6% in the first quarter. Legal & General Group Plc now owns 6,413 shares of the company’s stock worth $230,000 after buying an additional 1,139 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Hibbett Sports during the second quarter worth $244,000. Finally, Capstone Asset Management Co. raised its position in shares of Hibbett Sports by 1.9% in the second quarter. Capstone Asset Management Co. now owns 7,373 shares of the company’s stock worth $257,000 after buying an additional 140 shares during the period.

Shares of Hibbett Sports, Inc. (NASDAQ:HIBB) traded up 1.36% on Wednesday, reaching $40.99. The company had a trading volume of 404,252 shares. The company’s 50-day moving average is $38.31 and its 200-day moving average is $35.92. Hibbett Sports, Inc. has a one year low of $27.58 and a one year high of $41.49. The company has a market capitalization of $901.25 million, a PE ratio of 13.37 and a beta of 1.08.

Hibbett Sports (NASDAQ:HIBB) last issued its earnings results on Friday, August 19th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Hibbett Sports had a net margin of 7.32% and a return on equity of 22.04%. The business had revenue of $206.90 million for the quarter. During the same period in the previous year, the firm earned $0.28 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that Hibbett Sports, Inc. will post $3.00 earnings per share for the current year.

A number of equities analysts have recently weighed in on the company. B. Riley reiterated a “neutral” rating and set a $38.00 target price on shares of Hibbett Sports in a research note on Friday, May 27th. Forward View raised Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Sunday. BMO Capital Markets reduced their price target on Hibbett Sports from $47.00 to $37.00 and set a “market perform” rating on the stock in a research report on Thursday, August 25th. Piper Jaffray Cos. reduced their price target on Hibbett Sports from $51.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Finally, Zacks Investment Research downgraded Hibbett Sports from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $38.18.

In other news, Director Alton E. Yother sold 1,331 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $35.62, for a total value of $47,410.22. Following the transaction, the director now owns 1,331 shares of the company’s stock, valued at $47,410.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Cathy E. Pryor sold 2,500 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the vice president now directly owns 17,108 shares in the company, valued at approximately $684,320. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

About Hibbett Sports

Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores.

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