Blackhawk Network Holdings Inc. (NASDAQ:HAWK)’s share price rose 7% on Wednesday following a better than expected earnings announcement. The company traded as high as $35.24 and last traded at $34.18, with a volume of 2,091,080 shares changing hands. The stock had previously closed at $31.93.

The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.04. The company had revenue of $361.60 million for the quarter. Blackhawk Network Holdings had a net margin of 1.24% and a return on equity of 15.40%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share.

A number of equities research analysts recently commented on HAWK shares. Bank of America Corp. lowered shares of Blackhawk Network Holdings from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $34.00 in a report on Friday, October 7th. Jefferies Group restated a “buy” rating and set a $43.00 price objective on shares of Blackhawk Network Holdings in a report on Monday. Zacks Investment Research upgraded shares of Blackhawk Network Holdings from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, September 20th. Finally, Credit Agricole SA upgraded shares of Blackhawk Network Holdings from an “underperform” rating to an “outperform” rating and raised their price objective for the stock from $34.00 to $36.00 in a report on Wednesday, September 21st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.75.

In other news, Director Arun Sarin sold 25,000 shares of Blackhawk Network Holdings stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $35.92, for a total value of $898,000.00. Following the completion of the transaction, the director now owns 40,529 shares of the company’s stock, valued at approximately $1,455,801.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.24% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its position in shares of Blackhawk Network Holdings by 37.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,333 shares of the company’s stock worth $109,000 after buying an additional 911 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Blackhawk Network Holdings by 113.6% in the third quarter. BNP Paribas Arbitrage SA now owns 4,645 shares of the company’s stock worth $140,000 after buying an additional 2,470 shares during the period. US Bancorp DE increased its position in shares of Blackhawk Network Holdings by 94.7% in the second quarter. US Bancorp DE now owns 5,800 shares of the company’s stock worth $194,000 after buying an additional 2,821 shares during the period. Penserra Capital Management LLC increased its position in shares of Blackhawk Network Holdings by 22.6% in the second quarter. Penserra Capital Management LLC now owns 6,392 shares of the company’s stock worth $214,000 after buying an additional 1,178 shares during the period. Finally, HBK Investments L P increased its position in shares of Blackhawk Network Holdings by 10.3% in the first quarter. HBK Investments L P now owns 6,400 shares of the company’s stock worth $220,000 after buying an additional 600 shares during the period. 91.35% of the stock is owned by institutional investors.

The company’s 50-day moving average price is $31.78 and its 200 day moving average price is $33.15. The stock has a market capitalization of $1.93 billion, a P/E ratio of 84.70 and a beta of 0.67.

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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