Blackhawk Network Holdings, Inc. (NASDAQ:HAWK)’s share price rose 1.7% during mid-day trading on Friday after Bank of America Corporation raised their price target on the stock from $44.00 to $49.00. Bank of America Corporation currently has a neutral rating on the stock. Blackhawk Network Holdings traded as high as $46.70 and last traded at $45.30, with a volume of 484,174 shares changing hands. The stock had previously closed at $46.10.
HAWK has been the topic of a number of other research reports. First Analysis increased their price target on shares of Blackhawk Network Holdings from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, March 23rd. Zacks Investment Research raised shares of Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Deutsche Bank AG increased their price target on shares of Blackhawk Network Holdings from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. BMO Capital Markets raised shares of Blackhawk Network Holdings from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $50.00 in a research note on Wednesday, June 28th. Finally, TheStreet downgraded shares of Blackhawk Network Holdings from a “b-” rating to a “c” rating in a research note on Tuesday, June 20th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.07.
In other news, insider Roche L. Talbott Hoskins sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $41.25, for a total value of $825,000.00. Following the transaction, the insider now directly owns 240,931 shares in the company, valued at approximately $9,938,403.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert B. Henske acquired 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $41.57 per share, for a total transaction of $145,495.00. Following the completion of the transaction, the director now owns 4,500 shares in the company, valued at $187,065. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 77,153 shares of company stock worth $3,198,121. Insiders own 3.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of HAWK. Jana Partners LLC purchased a new stake in shares of Blackhawk Network Holdings during the first quarter valued at $109,418,000. Vident Investment Advisory LLC bought a new position in Blackhawk Network Holdings during the first quarter valued at approximately $326,000. Atria Investments LLC boosted its position in Blackhawk Network Holdings by 3.0% in the first quarter. Atria Investments LLC now owns 10,428 shares of the credit services provider’s stock valued at $423,000 after buying an additional 308 shares during the last quarter. State Street Corp boosted its position in Blackhawk Network Holdings by 4.1% in the fourth quarter. State Street Corp now owns 991,589 shares of the credit services provider’s stock valued at $37,362,000 after buying an additional 39,207 shares during the last quarter. Finally, Vivaldi Capital Management LLC bought a new position in Blackhawk Network Holdings during the first quarter valued at approximately $10,376,670,000. Hedge funds and other institutional investors own 99.59% of the company’s stock.
The company’s 50-day moving average is $43.09 and its 200-day moving average is $39.83. The company’s market cap is $2.55 billion.
Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.07. Blackhawk Network Holdings had a negative net margin of 0.01% and a positive return on equity of 5.53%. The business had revenue of $463.10 million for the quarter, compared to the consensus estimate of $447.43 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. Equities analysts forecast that Blackhawk Network Holdings, Inc. will post $1.68 earnings per share for the current year.
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Blackhawk Network Holdings Company Profile
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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