Standard Life Investments LTD Has $160,874,000 Stake in Blackhawk Network Holdings Inc. (HAWK)
Standard Life Investments LTD increased its stake in Blackhawk Network Holdings Inc. (NASDAQ:HAWK) by 85.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,800,778 shares of the company’s stock after buying an additional 2,214,977 shares during the period. Standard Life Investments LTD owned 8.55% of Blackhawk Network Holdings worth $160,874,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. HBK Investments L P raised its stake in Blackhawk Network Holdings by 10.3% in the first quarter. HBK Investments L P now owns 6,400 shares of the company’s stock valued at $220,000 after buying an additional 600 shares during the period. Bank of Montreal Can bought a new stake in Blackhawk Network Holdings during the second quarter valued at approximately $279,000. Schonfeld Strategic Advisors LLC bought a new stake in Blackhawk Network Holdings during the first quarter valued at approximately $293,000. LaSalle Street Capital Management LLC raised its stake in Blackhawk Network Holdings by 1.8% in the second quarter. LaSalle Street Capital Management LLC now owns 9,890 shares of the company’s stock valued at $331,000 after buying an additional 171 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Blackhawk Network Holdings during the first quarter valued at approximately $355,000. 91.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Blackhawk Network Holdings Inc. (NASDAQ:HAWK) traded down 0.60% during mid-day trading on Monday, hitting $29.99. The stock had a trading volume of 343,384 shares. Blackhawk Network Holdings Inc. has a 52-week low of $28.88 and a 52-week high of $48.40. The company has a market cap of $1.69 billion, a PE ratio of 74.23 and a beta of 0.67. The stock has a 50 day moving average price of $32.17 and a 200-day moving average price of $33.27.
Blackhawk Network Holdings (NASDAQ:HAWK) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.13. Blackhawk Network Holdings had a return on equity of 15.40% and a net margin of 1.24%. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts expect that Blackhawk Network Holdings Inc. will post $1.57 earnings per share for the current fiscal year.
Several research firms recently commented on HAWK. Zacks Investment Research lowered Blackhawk Network Holdings from a “strong-buy” rating to a “hold” rating in a report on Friday, July 29th. Bank of America Corp. reaffirmed a “hold” rating and set a $36.00 target price on shares of Blackhawk Network Holdings in a report on Wednesday, July 20th. Finally, Credit Agricole SA raised Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $36.00 in a report on Wednesday, September 21st. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Blackhawk Network Holdings currently has a consensus rating of “Buy” and a consensus price target of $43.63.
In related news, Director Arun Sarin sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $35.92, for a total value of $898,000.00. Following the sale, the director now owns 40,529 shares in the company, valued at approximately $1,455,801.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.24% of the company’s stock.
About Blackhawk Network Holdings
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company offers a range of prepaid gift, telecom and debit cards, in physical and electronic forms, as well as related prepaid products and payment services. The Company’s segments are US Retail, International Retail and Incentives & Rewards.
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