Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $46.10 and last traded at $46.00, with a volume of 1,262,937 shares traded. The stock had previously closed at $43.45.
The credit services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.07. Blackhawk Network Holdings had a positive return on equity of 5.49% and a negative net margin of 0.01%. The business had revenue of $463.10 million during the quarter, compared to analysts’ expectations of $447.43 million. During the same period in the prior year, the firm posted $0.13 EPS. Blackhawk Network Holdings’s quarterly revenue was up 18.4% compared to the same quarter last year.
A number of research firms recently commented on HAWK. Bank of America Corporation increased their price target on Blackhawk Network Holdings from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Zacks Investment Research upgraded Blackhawk Network Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a research report on Tuesday, July 25th. Mizuho restated a “buy” rating and set a $52.00 price target (up from $50.00) on shares of Blackhawk Network Holdings in a research report on Saturday, July 22nd. Jefferies Group LLC restated a “buy” rating and set a $53.00 price target (up from $49.00) on shares of Blackhawk Network Holdings in a research report on Monday, July 24th. Finally, BidaskClub upgraded Blackhawk Network Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.14.
In other news, insider Joan B. Lockie sold 2,543 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $43.92, for a total value of $111,688.56. Following the transaction, the insider now directly owns 17,168 shares in the company, valued at approximately $754,018.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jerry N. Ulrich sold 75,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total value of $3,386,250.00. Following the completion of the transaction, the chief financial officer now owns 63,280 shares in the company, valued at $2,857,092. The disclosure for this sale can be found here. Insiders sold a total of 116,212 shares of company stock worth $5,123,465 over the last quarter. Corporate insiders own 3.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of HAWK. Castleark Management LLC bought a new position in Blackhawk Network Holdings during the second quarter valued at about $14,290,000. Nomura Holdings Inc. raised its position in Blackhawk Network Holdings by 2.7% in the second quarter. Nomura Holdings Inc. now owns 103,480 shares of the credit services provider’s stock valued at $4,502,000 after buying an additional 2,754 shares in the last quarter. Argent Capital Management LLC bought a new position in Blackhawk Network Holdings during the second quarter valued at about $1,603,000. Cubist Systematic Strategies LLC raised its position in Blackhawk Network Holdings by 270.7% in the second quarter. Cubist Systematic Strategies LLC now owns 9,639 shares of the credit services provider’s stock valued at $420,000 after buying an additional 7,039 shares in the last quarter. Finally, Newbrook Capital Advisors LP bought a new position in Blackhawk Network Holdings during the second quarter valued at about $52,890,000. Institutional investors and hedge funds own 98.69% of the company’s stock.
The stock has a 50-day moving average of $43.44 and a 200-day moving average of $40.61. The company’s market cap is $2.47 billion.
ILLEGAL ACTIVITY WARNING: “Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) Reaches New 12-Month High Following Better-Than-Expected Earnings” was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://stocknewstimes.com/2017/08/15/blackhawk-network-holdings-inc-nasdaqhawk-hits-new-1-year-high-following-better-than-expected-earnings-updated-updated-updated.html.
About Blackhawk Network Holdings
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.
Receive News & Ratings for Blackhawk Network Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackhawk Network Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
