Standard Life Investments LTD lessened its stake in Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) by 59.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 382,014 shares of the credit services provider’s stock after selling 561,123 shares during the period. Standard Life Investments LTD owned 0.67% of Blackhawk Network Holdings worth $16,646,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Legal & General Group Plc increased its position in Blackhawk Network Holdings by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 19,282 shares of the credit services provider’s stock valued at $844,000 after acquiring an additional 351 shares during the period. Strs Ohio increased its position in Blackhawk Network Holdings by 38.9% in the 2nd quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock valued at $109,000 after acquiring an additional 700 shares during the period. US Bancorp DE increased its position in Blackhawk Network Holdings by 10.1% in the 1st quarter. US Bancorp DE now owns 8,351 shares of the credit services provider’s stock valued at $339,000 after acquiring an additional 764 shares during the period. Nationwide Fund Advisors increased its position in Blackhawk Network Holdings by 1.4% in the 1st quarter. Nationwide Fund Advisors now owns 59,061 shares of the credit services provider’s stock valued at $2,398,000 after acquiring an additional 817 shares during the period. Finally, Turner Investments LLC increased its position in Blackhawk Network Holdings by 20.0% in the 2nd quarter. Turner Investments LLC now owns 6,000 shares of the credit services provider’s stock valued at $262,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 95.77% of the company’s stock.

Several equities analysts recently issued reports on HAWK shares. Citigroup Inc. upgraded Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and boosted their price target for the company from $39.00 to $47.00 in a research report on Friday, May 19th. Zacks Investment Research cut Blackhawk Network Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, June 15th. BidaskClub cut Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. TheStreet cut Blackhawk Network Holdings from a “b-” rating to a “c” rating in a research report on Tuesday, June 20th. Finally, Mizuho began coverage on Blackhawk Network Holdings in a research report on Tuesday, June 27th. They set a “buy” rating and a $50.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.86.

In related news, insider Joan B. Lockie sold 2,543 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $43.92, for a total transaction of $111,688.56. Following the transaction, the insider now owns 17,168 shares in the company, valued at $754,018.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David C. Tate sold 18,669 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total transaction of $800,526.72. The disclosure for this sale can be found here. Insiders have sold 96,212 shares of company stock worth $4,298,465 in the last quarter. Company insiders own 3.80% of the company’s stock.

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Blackhawk Network Holdings, Inc. (NASDAQ HAWK) traded down 1.00% during midday trading on Friday, hitting $44.40. The company had a trading volume of 108,276 shares. The stock’s market cap is $2.52 billion. The company’s 50 day moving average is $43.56 and its 200 day moving average is $41.68. Blackhawk Network Holdings, Inc. has a 12-month low of $28.88 and a 12-month high of $46.70.

Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings data on Wednesday, July 19th. The credit services provider reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. Blackhawk Network Holdings had a negative net margin of 0.01% and a positive return on equity of 5.49%. The business had revenue of $463.10 million for the quarter, compared to analyst estimates of $447.43 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, equities analysts anticipate that Blackhawk Network Holdings, Inc. will post $1.68 EPS for the current fiscal year.

Blackhawk Network Holdings Company Profile

Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.

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Institutional Ownership by Quarter for Blackhawk Network Holdings (NASDAQ:HAWK)

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