Deprince Race & Zollo Inc. Invests $27,841,000 in HSN Inc. (HSNI)
Deprince Race & Zollo Inc. bought a new stake in HSN Inc. (NASDAQ:HSNI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 568,993 shares of the company’s stock, valued at approximately $27,841,000. Deprince Race & Zollo Inc. owned approximately 1.09% of HSN at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in HSNI. Aperio Group LLC acquired a new stake in shares of HSN during the first quarter worth $266,000. Teachers Advisors Inc. increased its stake in shares of HSN by 2.2% in the first quarter. Teachers Advisors Inc. now owns 60,231 shares of the company’s stock worth $3,151,000 after buying an additional 1,298 shares in the last quarter. BlackRock Inc. increased its stake in shares of HSN by 10.7% in the first quarter. BlackRock Inc. now owns 12,650 shares of the company’s stock worth $662,000 after buying an additional 1,219 shares in the last quarter. BlackRock Group LTD increased its stake in shares of HSN by 18.7% in the first quarter. BlackRock Group LTD now owns 26,262 shares of the company’s stock worth $1,375,000 after buying an additional 4,128 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of HSN by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 921,943 shares of the company’s stock worth $48,227,000 after buying an additional 14,512 shares in the last quarter. 63.67% of the stock is owned by institutional investors.
Shares of HSN Inc. (NASDAQ:HSNI) traded up 1.04% during mid-day trading on Tuesday, hitting $39.78. 150,151 shares of the stock were exchanged. The company’s 50-day moving average is $41.42 and its 200-day moving average is $48.55. HSN Inc. has a 1-year low of $37.34 and a 1-year high of $63.44. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 14.19 and a beta of 1.04.
HSN (NASDAQ:HSNI) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. HSN had a net margin of 4.10% and a return on equity of 117.99%. The firm earned $854.30 million during the quarter, compared to the consensus estimate of $871.23 million. During the same period in the prior year, the firm earned $0.81 EPS. The business’s revenue was down 3.5% on a year-over-year basis. Equities research analysts anticipate that HSN Inc. will post $3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Wednesday, September 7th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, September 2nd. HSN’s dividend payout ratio is 50.00%.
A number of equities research analysts recently weighed in on HSNI shares. Maxim Group started coverage on shares of HSN in a research report on Thursday, June 9th. They set a “buy” rating and a $66.00 price objective for the company. Zacks Investment Research downgraded shares of HSN from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Wunderlich lowered their price objective on shares of HSN from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, July 25th. TheStreet raised shares of HSN from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Finally, FBR & Co lowered their price objective on shares of HSN from $53.00 to $51.00 and set a “mkt perform” rating for the company in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.63.
In other news, Director Thomas Mcinerney sold 4,000 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $43.51, for a total value of $174,040.00. Following the completion of the transaction, the director now owns 53,669 shares in the company, valued at approximately $2,335,138.19. The sale was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.
HSN, Inc is an interactive multi-channel retailer. The Company markets and sells a range of third party and private-label merchandise directly to consumers through various platforms, including television home shopping programming broadcast on the HSN television networks; catalogs, comprising the Cornerstone portfolio of print catalogs; Websites, which consist of HSN.com, joymangano.com and over seven branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.
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