Nisa Investment Advisors LLC continued to hold its stake in shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,370 shares of the credit services provider’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Blackhawk Network Holdings were worth $450,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Guggenheim Capital LLC purchased a new stake in shares of Blackhawk Network Holdings during the fourth quarter worth about $313,000. Norges Bank bought a new stake in Blackhawk Network Holdings during the fourth quarter valued at approximately $18,577,000. Teachers Advisors LLC increased its stake in Blackhawk Network Holdings by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 90,750 shares of the credit services provider’s stock valued at $3,419,000 after buying an additional 2,159 shares in the last quarter. Atria Investments LLC increased its stake in Blackhawk Network Holdings by 3.0% in the first quarter. Atria Investments LLC now owns 10,428 shares of the credit services provider’s stock valued at $423,000 after buying an additional 308 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Blackhawk Network Holdings during the first quarter valued at approximately $207,000. 99.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) remained flat at $41.90 during midday trading on Friday. 152,759 shares of the company’s stock were exchanged. Blackhawk Network Holdings, Inc. has a 1-year low of $28.88 and a 1-year high of $46.70. The stock’s 50 day moving average is $43.42 and its 200 day moving average is $40.46. The company’s market capitalization is $2.37 billion.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 EPS for the quarter, beating the 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 analysts’ expectations of $447.43 million. During the same period in the previous year, the company posted $0.13 EPS. Blackhawk Network Holdings’s revenue was up 18.4% on a year-over-year basis. On average, analysts predict that Blackhawk Network Holdings, Inc. will post $1.68 earnings per share for the current fiscal year.
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Several research firms have commented on HAWK. BidaskClub raised Blackhawk Network Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research raised Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. TheStreet downgraded Blackhawk Network Holdings from a “b-” rating to a “c” rating in a research note on Tuesday, June 20th. Citigroup Inc. raised Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and upped their price objective for the company from $39.00 to $47.00 in a research note on Friday, May 19th. Finally, Mizuho began coverage on Blackhawk Network Holdings in a research note on Tuesday, June 27th. They set a “buy” rating and a $50.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $45.14.
In related news, insider Joan B. Lockie sold 2,543 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $43.92, for a total value of $111,688.56. Following the completion of the sale, the insider now directly owns 17,168 shares in the company, valued at $754,018.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David C. Tate sold 18,669 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was 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 sold 116,212 shares of company stock valued at $5,123,465 over the last quarter. 3.80% of the stock is currently owned by corporate insiders.
About Blackhawk Network Holdings
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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