New York State Common Retirement Fund boosted its position in shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) by 23.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,805 shares of the credit services provider’s stock after purchasing an additional 28,935 shares during the quarter. New York State Common Retirement Fund owned approximately 0.26% of Blackhawk Network worth $6,561,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Blackhawk Network by 2.4% in the second quarter. Vanguard Group Inc. now owns 4,523,748 shares of the credit services provider’s stock valued at $197,236,000 after acquiring an additional 105,653 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Blackhawk Network by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,711,582 shares of the credit services provider’s stock valued at $74,626,000 after acquiring an additional 43,807 shares in the last quarter. Newbrook Capital Advisors LP purchased a new stake in shares of Blackhawk Network in the second quarter valued at $52,890,000. State Street Corp lifted its position in shares of Blackhawk Network by 6.7% in the second quarter. State Street Corp now owns 1,094,994 shares of the credit services provider’s stock valued at $47,740,000 after acquiring an additional 68,362 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Blackhawk Network by 2.2% in the second quarter. Northern Trust Corp now owns 714,592 shares of the credit services provider’s stock valued at $31,156,000 after acquiring an additional 15,717 shares in the last quarter. Institutional investors own 96.68% of the company’s stock.
HAWK has been the topic of several recent research reports. Craig Hallum restated a “buy” rating and issued a $58.00 price objective on shares of Blackhawk Network in a research report on Friday, September 1st. BMO Capital Markets restated an “outperform” rating and issued a $52.00 price objective (up from $50.00) on shares of Blackhawk Network in a research report on Tuesday, September 12th. Zacks Investment Research downgraded Blackhawk Network from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. UBS Group downgraded Blackhawk Network from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 12th. Finally, SunTrust Banks set a $43.00 price objective on Blackhawk Network and gave the company a “buy” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.69.
Blackhawk Network (NASDAQ:HAWK) last released its earnings results on Wednesday, October 11th. The credit services provider reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The firm had revenue of $419.30 million during the quarter, compared to analyst estimates of $439.32 million. Blackhawk Network had a positive return on equity of 4.12% and a negative net margin of 0.14%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. equities analysts predict that Blackhawk Network Holdings Inc will post 0.41 EPS for the current fiscal year.
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About Blackhawk Network
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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