Published On: Sat, Sep 17th, 2016

HSN Inc. (HSNI) Short Interest Update

HSN Inc. (NASDAQ:HSNI) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,579,649 shares, a decrease of 33.0% from the August 15th total of 2,357,239 shares. Based on an average daily volume of 353,647 shares, the days-to-cover ratio is presently 4.5 days. Approximately 5.0% of the shares of the stock are sold short.
Shares of HSN (NASDAQ:HSNI) opened at 39.97 on Friday. The company’s 50-day moving average price is $44.05 and its 200 day moving average price is $49.76. HSN has a 12-month low of $39.91 and a 12-month high of $63.44. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 14.25 and a beta of 0.90.
HSN (NASDAQ:HSNI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The company earned $854.30 million during the quarter, compared to analysts’ expectations of $871.23 million. HSN had a return on equity of 117.99% and a net margin of 4.10%. HSN’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. On average, equities analysts predict that HSN will post $3.09 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, September 2nd. HSN’s payout ratio is currently 50.00%.
Several research firms have weighed in on HSNI. Maxim Group dropped their price target on HSN from $66.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, August 5th. TheStreet raised HSN from a “hold” rating to a “buy” rating in a report on Monday, August 1st. FBR & Co decreased their price objective on HSN from $53.00 to $51.00 and set a “mkt perform” rating on the stock in a report on Friday, August 5th. Zacks Investment Research cut HSN from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, Wunderlich decreased their price objective on HSN from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. HSN has an average rating of “Buy” and a consensus price target of $58.63.
In other HSN news, Director Thomas Mcinerney sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $43.51, for a total value of $174,040.00. Following the completion of the transaction, the director now directly owns 53,669 shares in the company, valued at approximately $2,335,138.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of HSN during the second quarter valued at approximately $108,000. Pacer Advisors Inc. acquired a new stake in shares of HSN during the second quarter valued at approximately $157,000. Thrivent Financial for Lutherans raised its stake in shares of HSN by 10.8% in the second quarter. Thrivent Financial for Lutherans now owns 4,500 shares of the company’s stock valued at $220,000 after buying an additional 440 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of HSN during the first quarter valued at approximately $233,000. Finally, Teacher Retirement System of Texas raised its stake in shares of HSN by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,765 shares of the company’s stock valued at $233,000 after buying an additional 574 shares during the last quarter. 63.82% of the stock is currently owned by institutional investors.
About HSN
HSN, Inc is an interactive multi-channel retailer. The Company markets and sells a range of third party and private-label merchandise directly to consumers through various platforms, including television home shopping programming broadcast on the HSN television networks; catalogs, comprising the Cornerstone portfolio of print catalogs; Websites, which consist of HSN.com, joymangano.com and over seven branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.

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