Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) Position Reduced by UBS Group AG

UBS Group AG cut its stake in shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) by 89.4% during the first quarter, Holdings Channel reports. The institutional investor owned 2,545 shares of the credit services provider’s stock after selling 21,395 shares during the period. UBS Group AG’s holdings in Blackhawk Network Holdings were worth $103,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Blackhawk Network Holdings by 17.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,667,775 shares of the credit services provider’s stock valued at $67,712,000 after buying an additional 247,976 shares in the last quarter. Geode Capital Management LLC boosted its stake in Blackhawk Network Holdings by 3.7% in the first quarter. Geode Capital Management LLC now owns 446,415 shares of the credit services provider’s stock valued at $18,124,000 after buying an additional 15,998 shares in the last quarter. Vanguard Group Inc. boosted its stake in Blackhawk Network Holdings by 3.7% in the first quarter. Vanguard Group Inc. now owns 4,418,095 shares of the credit services provider’s stock valued at $179,375,000 after buying an additional 156,299 shares in the last quarter. Menta Capital LLC bought a new stake in Blackhawk Network Holdings during the first quarter valued at about $552,000. Finally, Marshall Wace North America L.P. bought a new stake in Blackhawk Network Holdings during the first quarter valued at about $3,397,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) traded up 1.42% during mid-day trading on Monday, hitting $42.95. 34,312 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $43.43 and a 200-day moving average price of $40.50. Blackhawk Network Holdings, Inc. has a 52 week low of $28.88 and a 52 week high of $46.70. The company’s market capitalization is $2.43 billion.

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

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Several research firms recently issued reports on HAWK. BidaskClub cut shares of Blackhawk Network Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Blackhawk Network Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $53.00 price target (up from $49.00) on shares of Blackhawk Network Holdings in a report on Monday, July 24th. Mizuho reaffirmed a “buy” rating and issued a $52.00 price target (up from $50.00) on shares of Blackhawk Network Holdings in a report on Saturday, July 22nd. Finally, Bank of America Corporation upped their price target on shares of Blackhawk Network Holdings from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. Five investment 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. Blackhawk Network Holdings has a consensus rating of “Buy” and a consensus target price of $45.14.

In other Blackhawk Network Holdings news, CFO Jerry N. Ulrich sold 75,000 shares of Blackhawk Network Holdings stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total transaction of $3,386,250.00. Following the completion of the transaction, the chief financial officer now directly owns 63,280 shares of the company’s stock, valued at $2,857,092. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Roche L. Talbott Hoskins sold 20,000 shares of Blackhawk Network Holdings stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $41.25, for a total value of $825,000.00. Following the transaction, the insider now directly owns 240,931 shares of the company’s stock, valued at $9,938,403.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,212 shares of company stock valued at $5,123,465. Company insiders own 3.80% of the company’s stock.

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

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