Hibbett Sports Inc. (HIBB) Shares Down 2.4% on Insider Selling
Shares of Hibbett Sports Inc. (NASDAQ:HIBB) traded down 2.4% during trading on Monday following insider selling activity. The stock traded as low as $38.70 and last traded at $39.20, with a volume of 92,175 shares. The stock had previously closed at $40.16.
Specifically, Director Michael J. Newsome sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $39.97, for a total value of $399,700.00. Following the transaction, the director now directly owns 29,882 shares of the company’s stock, valued at approximately $1,194,383.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Albert C. Johnson sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $38.81, for a total value of $38,810.00. Following the completion of the transaction, the director now directly 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 owned by company insiders.
Several equities research analysts recently issued reports on the company. B. Riley reissued a “neutral” rating and set a $42.00 price target on shares of Hibbett Sports in a research report on Monday, August 22nd. Forward View raised Hibbett Sports from a “hold” rating to a “buy” rating in a research report on Sunday, September 18th. Zacks Investment Research raised Hibbett Sports from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, July 25th. BMO Capital Markets dropped 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. Finally, Canaccord Genuity reissued a “hold” rating and set a $36.00 price target on shares of Hibbett Sports in a research report on Wednesday, August 17th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $38.18.
The stock has a market capitalization of $859.69 million, a price-to-earnings ratio of 12.75 and a beta of 1.05. The firm’s 50-day moving average is $40.01 and its 200 day moving average is $36.52.
Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, August 19th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Hibbett Sports had a return on equity of 22.04% and a net margin of 7.32%. The company had revenue of $206.90 million for the quarter. During the same period in the previous year, the business posted $0.28 EPS. Hibbett Sports’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Hibbett Sports Inc. will post $3.00 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in HIBB. AlphaOne Investment Services LLC raised its stake in shares of Hibbett Sports by 54.5% in the first quarter. AlphaOne Investment Services LLC now owns 81,600 shares of the company’s stock valued at $2,929,000 after buying an additional 28,800 shares during the last quarter. Skyline Asset Management LP increased its position in Hibbett Sports by 21.4% in the first quarter. Skyline Asset Management LP now owns 606,100 shares of the company’s stock valued at $21,759,000 after buying an additional 107,000 shares during the period. Hancock Holding Co. increased its position in Hibbett Sports by 1.4% in the first quarter. Hancock Holding Co. now owns 200,625 shares of the company’s stock valued at $7,202,000 after buying an additional 2,750 shares during the period. UBS Group AG increased its position in Hibbett Sports by 1.2% in the first quarter. UBS Group AG now owns 68,717 shares of the company’s stock valued at $2,466,000 after buying an additional 846 shares during the period. Finally, Zebra Capital Management LLC bought a new position in Hibbett Sports during the first quarter valued at approximately $302,000.
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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