Sports Direct International Plc Has 19.7% Stake in The Finish Line, Inc. (NASDAQ:FINL)

Sports Direct International Plc

recently stated that they own a 19.7% stake in The Finish Line, Inc. (NASDAQ:FINL) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, July 24th. The investor owns 7,895,538 shares of the stock worth $86,929,873. The disclosure is available through EDGAR at this link.

Sports Direct International Plc

provided the following explanation of their ownership:

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Several other large investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in The Finish Line by 148.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,935 shares of the specialty retailer’s stock worth $112,000 after buying an additional 3,549 shares in the last quarter. State of Alaska Department of Revenue raised its position 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 worth $112,000 after buying an additional 3,464 shares in the last quarter. Mason Street Advisors LLC raised its position 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 worth $135,000 after buying an additional 620 shares in the last quarter. Public Employees Retirement System of Ohio raised its position 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 worth $135,000 after buying an additional 650 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in The Finish Line during the first quarter worth $157,000.

Shares of The Finish Line, Inc. (FINL) traded down 8.17% during midday trading on Friday, hitting $11.01. 3,406,024 shares of the stock traded hands. The stock’s market capitalization is $442.01 million. The firm has a 50-day moving average price of $13.69 and a 200-day moving average price of $14.90. The Finish Line, Inc. has a 52 week low of $10.49 and a 52 week high of $24.52.

The Finish Line (NASDAQ:FINL) last released its quarterly earnings results on Friday, June 23rd. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.23. The business had revenue of $429.80 million during the quarter, compared to the consensus estimate of $433.97 million. The Finish Line had a positive return on equity of 8.97% and a negative net margin of 1.05%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. On average, equities analysts predict that The Finish Line, Inc. will post $1.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.00%. The Finish Line’s dividend payout ratio is currently -89.80%.

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A number of research analysts have weighed in on FINL shares. Zacks Investment Research raised shares of The Finish Line from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Bank of America Corporation reaffirmed a “neutral” rating and set a $14.00 price objective (down previously from $16.00) on shares of The Finish Line in a research report on Monday, June 26th. BidaskClub cut shares of The Finish Line from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $17.00 target price on shares of The Finish Line in a research note on Friday, June 23rd. Finally, Canaccord Genuity set a $14.00 target price on shares of The Finish Line and gave the company a “hold” rating in a research note on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.11.

In other The Finish Line news, COO Melissa A. Greenwell sold 7,525 shares of the business’s stock in a transaction dated Saturday, July 15th. The stock was sold at an average price of $22.71, for a total transaction of $170,892.75. Following the completion of the sale, the chief operating officer now directly owns 11,862 shares in the company, valued at approximately $269,386.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Melissa A. Greenwell sold 4,077 shares of the business’s stock in a transaction dated Saturday, July 29th. The shares were sold at an average price of $21.67, for a total value of $88,348.59. Following the sale, the chief operating officer now owns 11,862 shares of the company’s stock, valued at $257,049.54. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

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.

Institutional Ownership by Quarter for The Finish Line (NASDAQ:FINL)

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