The Finish Line, Inc. (FINL) Shares Down 8.6%
The Finish Line, Inc. (NASDAQ:FINL) shares dropped 8.6% on Monday . The stock traded as low as $10.49 and last traded at $10.07, with a volume of 3,168,940 shares. The stock had previously closed at $11.01.
FINL has been the subject of several recent analyst reports. Zacks Investment Research upgraded The Finish Line from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Jefferies Group LLC set a $17.00 price target on The Finish Line and gave the stock a “buy” rating in a research note on Sunday. Bank of America Corporation restated a “neutral” rating and issued a $14.00 price target (down from $16.00) on shares of The Finish Line in a research note on Monday, June 26th. BidaskClub downgraded The Finish Line from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, FBR & Co restated a “buy” rating and issued a $22.00 price target on shares of The Finish Line in a research note on Tuesday, June 27th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. The Finish Line presently has an average rating of “Hold” and an average target price of $17.68.
The firm’s 50 day moving average is $13.69 and its 200-day moving average is $14.90. The company’s market cap is $396.24 million.
The Finish Line (NASDAQ:FINL) last announced its quarterly earnings results on Friday, June 23rd. The specialty retailer reported $0.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The Finish Line had a positive return on equity of 8.97% and a negative net margin of 1.05%. The business had revenue of $429.80 million for the quarter, compared to analyst estimates of $433.97 million. During the same quarter in the prior year, the company posted $0.23 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts forecast that The Finish Line, Inc. will post $1.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 25th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, August 23rd. The Finish Line’s dividend payout ratio (DPR) is presently -89.80%.
In related news, COO Melissa A. Greenwell sold 7,525 shares of the business’s stock in a transaction on Saturday, July 15th. The stock was sold at an average price of $22.71, for a total value of $170,892.75. Following the sale, the chief operating officer now owns 11,862 shares in the company, valued at approximately $269,386.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Melissa A. Greenwell sold 4,077 shares of the business’s stock in a transaction on Saturday, July 29th. The shares were sold at an average price of $21.67, for a total value of $88,348.59. Following the completion of the sale, the chief operating officer now owns 11,862 shares in the company, valued at approximately $257,049.54. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.
Several large investors have recently bought and sold shares of FINL. SG Americas Securities LLC purchased a new stake in The Finish Line during the second quarter valued at about $102,000. State of Alaska Department of Revenue increased its stake in The Finish Line by 77.0% in the second quarter. State of Alaska Department of Revenue now owns 7,964 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 3,464 shares in the last quarter. Mason Street Advisors LLC increased its stake in The Finish Line by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,484 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 620 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in The Finish Line by 7.4% in the first quarter. Public Employees Retirement System of Ohio now owns 9,465 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 650 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in The Finish Line during the first quarter valued at about $157,000.
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About The Finish Line
The Finish Line, Inc is a specialty retailer. The Company is a retailer of athletic shoes, apparel and accessories for men, women and kids, throughout the United States and Puerto Rico. The Company operates through the Finish Line brand. Finish Line is a retailer of athletic shoes, apparel and accessories.
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