Short Interest in Hibbett, Inc. (NASDAQ:HIBB) Decreases By 14.9%

Hibbett, Inc. (NASDAQ:HIBB) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,490,000 shares, a drop of 14.9% from the March 15th total of 1,750,000 shares. Currently, 13.1% of the shares of the company are short sold. Based on an average trading volume of 237,100 shares, the short-interest ratio is presently 6.3 days.

Hibbett Price Performance

HIBB traded up $0.47 during trading on Tuesday, hitting $70.77. 302,311 shares of the stock traded hands, compared to its average volume of 238,360. Hibbett has a twelve month low of $34.86 and a twelve month high of $83.00. The company has a market cap of $835.09 million, a price-to-earnings ratio of 8.58, a PEG ratio of 1.16 and a beta of 1.75. The business has a 50 day moving average price of $74.02 and a 200 day moving average price of $64.51.

Hibbett (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.01. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The company had revenue of $466.60 million for the quarter, compared to analysts’ expectations of $477.42 million. During the same quarter in the previous year, the firm posted $2.91 earnings per share. Hibbett’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Hibbett will post 8.21 earnings per share for the current year.

Hibbett Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. Hibbett’s dividend payout ratio (DPR) is currently 12.21%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HIBB shares. B. Riley raised their price objective on shares of Hibbett from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Monness Crespi & Hardt raised their price objective on shares of Hibbett from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Williams Trading restated a “hold” rating and set a $73.00 price objective on shares of Hibbett in a research report on Monday, March 18th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $74.00 price objective (down from $82.00) on shares of Hibbett in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Hibbett presently has an average rating of “Hold” and a consensus price target of $67.86.

Institutional Trading of Hibbett

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of Hibbett during the fourth quarter valued at about $28,000. Quarry LP raised its holdings in shares of Hibbett by 138.7% in the 1st quarter. Quarry LP now owns 678 shares of the company’s stock worth $40,000 after acquiring an additional 394 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Hibbett in the 4th quarter worth about $47,000. Acadian Asset Management LLC acquired a new stake in shares of Hibbett in the 1st quarter worth about $50,000. Finally, FMR LLC raised its holdings in shares of Hibbett by 32.0% in the 3rd quarter. FMR LLC now owns 1,258 shares of the company’s stock worth $60,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 94.08% of the company’s stock.

Hibbett Company Profile

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories. The company operates Hibbett stores, City Gear stores, and Sports Additions athletic shoe stores.