First Merchants Corp reduced its stake in Hibbett Sports, Inc. (NASDAQ:HIBB) by 10.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,870 shares of the company’s stock after selling 2,373 shares during the period. First Merchants Corp’s holdings in Hibbett Sports were worth $726,000 at the end of the most recent reporting period.

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

Hibbett Sports, Inc. (NASDAQ:HIBB) traded up 1.36% during trading on Wednesday, reaching $40.99. 404,252 shares of the company were exchanged. Hibbett Sports, Inc. has a 1-year low of $27.58 and a 1-year high of $41.49. The stock has a market capitalization of $901.25 million, a P/E ratio of 13.37 and a beta of 1.08. The company’s 50-day moving average price is $38.31 and its 200-day moving average price is $35.92.

Hibbett Sports (NASDAQ:HIBB) last announced its quarterly 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. The company had revenue of $206.90 million for the quarter. Hibbett Sports had a net margin of 7.32% and a return on equity of 22.04%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that Hibbett Sports, Inc. will post $3.00 EPS for the current year.

HIBB has been the topic of several research analyst reports. Zacks Investment Research raised shares of Hibbett Sports from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Monday, July 25th. Forward View upgraded shares of Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Sunday. Stifel Nicolaus initiated coverage on shares of Hibbett Sports in a research report on Friday, June 24th. They issued a “hold” rating for the company. Canaccord Genuity reiterated a “hold” rating and issued a $36.00 target price on shares of Hibbett Sports in a research report on Wednesday, August 17th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $47.00 target price on shares of Hibbett Sports in a research report on Thursday, August 25th. Four investment 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’s stock. The stock has an average rating of “Hold” and a consensus target price of $38.18.

In other Hibbett Sports news, VP Cathy E. Pryor sold 2,500 shares of Hibbett Sports stock in a transaction on Monday, September 12th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the vice president now directly owns 17,108 shares in the company, valued at approximately $684,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Albert C. Johnson sold 1,000 shares of Hibbett Sports stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $38.81, for a total transaction of $38,810.00. Following the completion of the sale, the director now owns 4,837 shares in the company, valued at $187,723.97. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Hibbett Sports Company Profile

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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