HRT Financial LP Invests $799,000 in Hibbett, Inc. (NASDAQ:HIBB)

Posted by on Jun 2nd, 2023

HRT Financial LP acquired a new position in Hibbett, Inc. (NASDAQ:HIBB – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,723 shares of the company’s stock, valued at approximately $799,000. HRT Financial LP owned 0.09% of Hibbett at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HIBB. BlackRock Inc. grew its stake in shares of Hibbett by 4.3% during the 3rd quarter. BlackRock Inc. now owns 2,065,251 shares of the company’s stock valued at $102,869,000 after purchasing an additional 84,638 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Hibbett by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 916,055 shares of the company’s stock worth $62,494,000 after purchasing an additional 72,157 shares in the last quarter. State Street Corp raised its holdings in Hibbett by 1.9% in the 2nd quarter. State Street Corp now owns 578,183 shares of the company’s stock worth $25,272,000 after purchasing an additional 10,661 shares during the period. Macquarie Group Ltd. lifted its position in Hibbett by 5.3% during the second quarter. Macquarie Group Ltd. now owns 516,381 shares of the company’s stock valued at $22,571,000 after purchasing an additional 25,815 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Hibbett by 33.3% during the third quarter. Marshall Wace LLP now owns 448,937 shares of the company’s stock valued at $22,362,000 after purchasing an additional 112,062 shares during the period. Hedge funds and other institutional investors own 97.94% of the company’s stock.

Wall Street Analyst Weigh In

HIBB has been the topic of a number of analyst reports. StockNews.com cut Hibbett from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Bank of America cut shares of Hibbett from a “buy” rating to an “underperform” rating in a research note on Friday, May 26th. Jefferies Financial Group began coverage on shares of Hibbett in a research note on Tuesday, March 14th. They set a “hold” rating and a $69.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $80.00 price target on shares of Hibbett in a research note on Monday, March 6th. Finally, Robert W. Baird lowered their price objective on Hibbett from $80.00 to $50.00 in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.80.

Insider Activity at Hibbett

In other Hibbett news, Director Terrance G. Finley sold 5,605 shares of Hibbett stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $71.65, for a total value of $401,598.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James A. Hilt sold 8,154 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $61.18, for a total transaction of $498,861.72. Following the transaction, the director now directly owns 2,380 shares of the company’s stock, valued at $145,608.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Terrance G. Finley sold 5,605 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $71.65, for a total value of $401,598.25. The disclosure for this sale can be found here. Insiders have sold a total of 14,473 shares of company stock valued at $943,300 over the last 90 days. 2.98% of the stock is owned by corporate insiders.

Hibbett Stock Down 0.5 %

HIBB opened at $35.84 on Friday. The company has a market capitalization of $456.96 million, a PE ratio of 3.79, a price-to-earnings-growth ratio of 0.61 and a beta of 1.61. The firm has a 50-day simple moving average of $53.42 and a two-hundred day simple moving average of $62.45. Hibbett, Inc. has a 52 week low of $34.86 and a 52 week high of $75.38.

Hibbett (NASDAQ:HIBB – Get Rating) last announced its quarterly earnings results on Friday, May 26th. The company reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.24). The firm had revenue of $455.50 million for the quarter, compared to the consensus estimate of $458.28 million. Hibbett had a net margin of 7.16% and a return on equity of 34.71%. Hibbett’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.89 earnings per share. As a group, sell-side analysts expect that Hibbett, Inc. will post 7.33 earnings per share for the current year.

Hibbett Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Investors of record on Thursday, June 8th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, June 7th. Hibbett’s payout ratio is 10.58%.

About Hibbett

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.

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Institutional Ownership by Quarter for Hibbett (NASDAQ:HIBB)

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