Blackhawk Network Holdings Inc. (HAWK) Shares Down 2.4%
Blackhawk Network Holdings Inc. (NASDAQ:HAWK) fell 2.4% during trading on Thursday . The stock traded as low as $30.69 and last traded at $30.69, with a volume of 347,137 shares trading hands. The stock had previously closed at $31.45.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Blackhawk Network Holdings from a “sell” rating to a “strong-buy” rating and set a $41.00 price objective for the company in a research note on Wednesday, July 27th. Bank of America Corp. upgraded Blackhawk Network Holdings from a “neutral” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Friday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $45.71.
The stock has a market cap of $1.73 billion, a PE ratio of 75.97 and a beta of 0.64. The stock’s 50 day moving average is $33.44 and its 200-day moving average is $33.56.
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Blackhawk Network Holdings (NASDAQ:HAWK) last released its quarterly earnings data on Tuesday, July 19th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.13. Blackhawk Network Holdings had a return on equity of 15.40% and a net margin of 1.24%. During the same period in the prior year, the company posted $0.38 earnings per share. Analysts forecast that Blackhawk Network Holdings Inc. will post $1.57 earnings per share for the current fiscal year.
In other Blackhawk Network Holdings news, Director Arun Sarin sold 25,000 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $35.92, for a total transaction of $898,000.00. Following the sale, the director now owns 40,529 shares in the company, valued at approximately $1,455,801.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.24% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in HAWK. Provident Investment Management Inc. boosted its stake in shares of Blackhawk Network Holdings by 27.1% in the first quarter. Provident Investment Management Inc. now owns 295,440 shares of the company’s stock worth $10,134,000 after buying an additional 63,051 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Blackhawk Network Holdings by 128.7% in the first quarter. Renaissance Technologies LLC now owns 760,063 shares of the company’s stock worth $26,070,000 after buying an additional 427,700 shares during the period. William Harris Investors Inc. boosted its stake in shares of Blackhawk Network Holdings by 6.3% in the first quarter. William Harris Investors Inc. now owns 385,682 shares of the company’s stock worth $13,229,000 after buying an additional 23,023 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Blackhawk Network Holdings during the first quarter worth approximately $748,000. Finally, BlackRock Group LTD boosted its stake in shares of Blackhawk Network Holdings by 35.3% in the first quarter. BlackRock Group LTD now owns 97,040 shares of the company’s stock worth $3,329,000 after buying an additional 25,309 shares during the period. Hedge funds and other institutional investors own 91.35% of the company’s stock.
About Blackhawk Network Holdings
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.
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