Chicago Capital Management LLC acquired a new position in shares of Blackhawk Network Holdings (NASDAQ:HAWK) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 452,697 shares of the credit services provider’s stock, valued at approximately $20,236,000. Blackhawk Network accounts for about 7.9% of Chicago Capital Management LLC’s portfolio, making the stock its 6th largest position.
Several other hedge funds also recently made changes to their positions in the company. Mint Tower Capital Management B.V. purchased a new position in Blackhawk Network in the first quarter valued at approximately $2,039,000. Kellner Capital LLC purchased a new position in Blackhawk Network in the first quarter valued at approximately $9,843,000. Elo Mutual Pension Insurance Co purchased a new position in Blackhawk Network in the first quarter valued at approximately $5,996,000. Kassirer Asset Management Corp purchased a new position in Blackhawk Network in the first quarter valued at approximately $9,411,000. Finally, Vivaldi Asset Management LLC raised its holdings in Blackhawk Network by 391.3% in the first quarter. Vivaldi Asset Management LLC now owns 857,667 shares of the credit services provider’s stock valued at $38,338,000 after buying an additional 683,084 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.
HAWK opened at $44.95 on Friday. The company has a market cap of $2.56 billion, a PE ratio of -16.23, a PEG ratio of 4.01 and a beta of 0.72. Blackhawk Network Holdings has a 52-week low of $44.90 and a 52-week high of $44.95. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.91 and a current ratio of 0.91.
Blackhawk Network (NASDAQ:HAWK) last posted its quarterly earnings data on Tuesday, May 1st. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). The firm had revenue of $193.57 million for the quarter, compared to analysts’ expectations of $214.25 million. Blackhawk Network had a negative net margin of 7.01% and a negative return on equity of 21.14%.
Several research analysts recently commented on the stock. BidaskClub upgraded shares of Blackhawk Network from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Mizuho restated a “hold” rating and issued a $36.00 price target on shares of Blackhawk Network in a report on Monday, February 26th. Citigroup lowered shares of Blackhawk Network from a “buy” rating to a “hold” rating and set a $45.25 price objective on the stock. in a research note on Monday, January 22nd. Wells Fargo lowered shares of Blackhawk Network from an “outperform” rating to a “market perform” rating in a research note on Friday, April 6th. Finally, Jefferies Group lowered shares of Blackhawk Network from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $46.02.
About Blackhawk Network
Blackhawk Network Holdings, Inc provides a range of prepaid gift, telecom, and debit cards in physical and electronic forms; and related prepaid products and payment services in the United States and internationally. It operates through three segments: U.S. Retail, International, and Incentives & Rewards.
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