Cubist Systematic Strategies LLC Grows Stake in Blackhawk Network Holdings Inc (HAWK)

Cubist Systematic Strategies LLC lifted its stake in shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) by 62.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,687 shares of the credit services provider’s stock after acquiring an additional 6,048 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Blackhawk Network were worth $687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Newbrook Capital Advisors LP acquired a new stake in shares of Blackhawk Network in the second quarter worth $52,890,000. Castleark Management LLC acquired a new stake in shares of Blackhawk Network in the second quarter worth $14,290,000. Vivaldi Asset Management LLC acquired a new stake in shares of Blackhawk Network in the second quarter worth $10,271,000. Penn Capital Management Co. Inc. boosted its position in shares of Blackhawk Network by 961.7% in the second quarter. Penn Capital Management Co. Inc. now owns 208,672 shares of the credit services provider’s stock worth $9,213,000 after buying an additional 189,018 shares during the period. Finally, Yost Capital Management L.L.C. boosted its position in shares of Blackhawk Network by 37.7% in the second quarter. Yost Capital Management L.L.C. now owns 613,890 shares of the credit services provider’s stock worth $26,767,000 after buying an additional 168,090 shares during the period. 96.68% of the stock is owned by institutional investors and hedge funds.

Shares of Blackhawk Network Holdings Inc (NASDAQ HAWK) opened at $33.85 on Monday. Blackhawk Network Holdings Inc has a 12-month low of $32.60 and a 12-month high of $46.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $1,920.00, a price-to-earnings ratio of -376.11, a P/E/G ratio of 5.33 and a beta of 0.48.

Blackhawk Network (NASDAQ:HAWK) last posted its earnings results on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Blackhawk Network had a positive return on equity of 4.12% and a negative net margin of 0.14%. The company had revenue of $419.30 million for the quarter, compared to analyst estimates of $439.32 million. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. equities analysts forecast that Blackhawk Network Holdings Inc will post 0.41 EPS for the current year.

HAWK has been the subject of a number of research reports. BidaskClub cut Blackhawk Network from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research cut Blackhawk Network from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. BMO Capital Markets reissued an “outperform” rating and set a $52.00 price objective (up previously from $50.00) on shares of Blackhawk Network in a research report on Tuesday, September 12th. 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. Finally, Bank of America reduced their price objective on Blackhawk Network from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $46.69.

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Blackhawk Network 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.

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

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