BidaskClub cut shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) from a buy rating to a hold rating in a research note released on Monday, July 31st.
Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Blackhawk Network Holdings from a sell rating to a hold rating in a research report on Wednesday, April 19th. BMO Capital Markets raised shares of Blackhawk Network Holdings from a market perform rating to an outperform rating and increased their price objective for the company from $40.00 to $50.00 in a research report on Wednesday, June 28th. Citigroup Inc. reaffirmed a buy rating and issued a $47.00 price objective on shares of Blackhawk Network Holdings in a research report on Monday, July 17th. Deutsche Bank AG increased their price objective on shares of Blackhawk Network Holdings from $41.00 to $46.00 and gave the company a buy rating in a research report on Friday, April 28th. Finally, TheStreet downgraded shares of Blackhawk Network Holdings from a b- rating to a c rating in a research report on Tuesday, June 20th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $45.14.
Shares of Blackhawk Network Holdings (HAWK) traded up 0.71% on Monday, reaching $42.70. 434,026 shares of the company were exchanged. The stock’s market capitalization is $2.42 billion. Blackhawk Network Holdings has a 1-year low of $28.88 and a 1-year high of $46.70. The company has a 50-day moving average price of $43.41 and a 200 day moving average price of $40.74.
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 Thomson Reuters’ 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 company had revenue of $463.10 million during the quarter, compared to the consensus estimate of $447.43 million. During the same quarter last year, the company earned $0.13 earnings per share. Blackhawk Network Holdings’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, analysts forecast that Blackhawk Network Holdings will post $1.68 EPS for the current fiscal year.
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In related news, CFO Jerry N. Ulrich sold 75,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 63,280 shares in the company, valued at $2,857,092. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joan B. Lockie sold 2,543 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $43.92, for a total value of $111,688.56. Following the transaction, the insider now owns 17,168 shares in the company, valued at $754,018.56. The disclosure for this sale can be found here. Insiders have sold 96,212 shares of company stock worth $4,298,465 over the last 90 days. 3.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in HAWK. Jana Partners LLC purchased a new position in shares of Blackhawk Network Holdings during the first quarter valued at about $109,418,000. Bank of America Corp DE boosted its position in shares of Blackhawk Network Holdings by 2.2% in the first quarter. Bank of America Corp DE now owns 479,604 shares of the credit services provider’s stock valued at $19,471,000 after buying an additional 10,360 shares during the period. Vident Investment Advisory LLC bought a new stake in Blackhawk Network Holdings during the first quarter worth about $326,000. Atria Investments LLC boosted 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 worth $423,000 after buying an additional 308 shares during the last quarter. Finally, Vivaldi Capital Management LLC bought a new stake in Blackhawk Network Holdings during the first quarter worth about $10,376,670,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.
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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