ExodusPoint Capital Management LP Purchases New Position in Hanesbrands Inc. (NYSE:HBI)

Posted by Defense World Staff on Sep 4th, 2023

ExodusPoint Capital Management LP acquired a new stake in shares of Hanesbrands Inc. (NYSE:HBI – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 268,986 shares of the textile maker’s stock, valued at approximately $1,415,000. ExodusPoint Capital Management LP owned 0.08% of Hanesbrands as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of HBI. Spire Wealth Management increased its position in shares of Hanesbrands by 409.9% in the 1st quarter. Spire Wealth Management now owns 4,875 shares of the textile maker’s stock valued at $26,000 after buying an additional 3,919 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Hanesbrands by 2,003.1% in the first quarter. Versant Capital Management Inc now owns 6,162 shares of the textile maker’s stock worth $32,000 after acquiring an additional 5,869 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Hanesbrands by 1,248.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,394 shares of the textile maker’s stock worth $34,000 after purchasing an additional 4,994 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Hanesbrands by 63.2% during the 4th quarter. Harbour Investments Inc. now owns 6,020 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 2,332 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Hanesbrands in the 4th quarter valued at approximately $50,000. Institutional investors own 87.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com downgraded shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Wedbush restated a “neutral” rating and set a $5.50 price objective on shares of Hanesbrands in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Hanesbrands has an average rating of “Hold” and a consensus price target of $5.64.

View Our Latest Research Report on Hanesbrands

Hanesbrands Price Performance

Shares of HBI stock opened at $5.25 on Monday. The firm’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $4.89. The company has a current ratio of 1.67, a quick ratio of 0.61 and a debt-to-equity ratio of 10.07. Hanesbrands Inc. has a 1 year low of $3.85 and a 1 year high of $9.48. The firm has a market capitalization of $1.84 billion, a P/E ratio of -4.69 and a beta of 1.65.

Hanesbrands (NYSE:HBI – Get Free Report) last released its earnings results on Thursday, August 10th. The textile maker reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Hanesbrands had a positive return on equity of 22.89% and a negative net margin of 6.61%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. Hanesbrands’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities analysts predict that Hanesbrands Inc. will post 0.23 EPS for the current fiscal year.

Hanesbrands Company Profile

(Free Report)

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear and socks, and activewear, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores and mass retail channels.