Blackhawk Network Holdings Inc. (HAWK) Trading 7% Higher on Strong Earnings
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) traded up 7% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $35.24 and last traded at $34.18, with a volume of 2,091,080 shares. The stock had previously closed at $31.93.
The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.04. Blackhawk Network Holdings had a return on equity of 15.40% and a net margin of 1.24%. The firm earned $361.60 million during the quarter. During the same period last year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis.
HAWK has been the subject of a number of recent research reports. Bank of America Corp. reissued a “hold” rating and issued a $36.00 target price on shares of Blackhawk Network Holdings in a research note on Wednesday, July 20th. Zacks Investment Research lowered Blackhawk Network Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. Credit Agricole SA raised Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and boosted their target price for the company from $34.00 to $36.00 in a research note on Wednesday, September 21st. They noted that the move was a valuation call. Finally, Jefferies Group reissued a “buy” rating and issued a $43.00 target price on shares of Blackhawk Network Holdings in a research note on Monday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $42.75.
In other Blackhawk Network Holdings news, Director Arun Sarin sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $35.92, for a total transaction of $898,000.00. Following the transaction, the director now owns 40,529 shares in the company, valued at approximately $1,455,801.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.24% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Blackhawk Network Holdings by 0.6% in the second quarter. FMR LLC now owns 8,420,818 shares of the company’s stock worth $282,013,000 after buying an additional 50,700 shares during the period. Standard Life Investments LTD increased its position in Blackhawk Network Holdings by 85.7% in the second quarter. Standard Life Investments LTD now owns 4,800,778 shares of the company’s stock worth $160,874,000 after buying an additional 2,214,977 shares during the period. Vanguard Group Inc. increased its position in Blackhawk Network Holdings by 2.2% in the second quarter. Vanguard Group Inc. now owns 4,331,994 shares of the company’s stock worth $145,078,000 after buying an additional 94,881 shares during the period. P2 Capital Partners LLC increased its position in Blackhawk Network Holdings by 22.6% in the second quarter. P2 Capital Partners LLC now owns 2,300,000 shares of the company’s stock worth $77,027,000 after buying an additional 424,509 shares during the period. Finally, Bloom Tree Partners LLC increased its position in Blackhawk Network Holdings by 38.4% in the first quarter. Bloom Tree Partners LLC now owns 1,721,218 shares of the company’s stock worth $59,038,000 after buying an additional 477,889 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.
The stock has a market cap of $1.92 billion, a PE ratio of 84.38 and a beta of 0.67. The firm has a 50-day moving average price of $31.82 and a 200-day moving average price of $33.15.
Blackhawk Network Holdings Company Profile
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.
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