The Finish Line Inc. (FINL) Sees Significant Growth in Short Interest
The Finish Line Inc. (NASDAQ:FINL) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 7,879,670 shares, a growth of 46.0% from the October 14th total of 5,397,988 shares. Currently, 19.9% of the shares of the stock are short sold. Based on an average trading volume of 1,101,317 shares, the days-to-cover ratio is currently 7.2 days.
In other The Finish Line news, insider Glenn S. Lyon sold 38,523 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $23.19, for a total transaction of $893,348.37. Following the completion of the transaction, the insider now directly owns 192,088 shares in the company, valued at approximately $4,454,520.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Norman H. Gurwitz sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $22.41, for a total transaction of $67,230.00. Following the transaction, the director now owns 5,518 shares of the company’s stock, valued at $123,658.38. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in FINL. Dimensional Fund Advisors LP boosted its stake in shares of The Finish Line by 32.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,569,624 shares of the company’s stock worth $72,071,000 after buying an additional 880,360 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of The Finish Line by 0.7% in the second quarter. Vanguard Group Inc. now owns 3,414,977 shares of the company’s stock worth $68,948,000 after buying an additional 23,710 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of The Finish Line by 6.8% in the third quarter. BlackRock Fund Advisors now owns 2,924,405 shares of the company’s stock worth $67,495,000 after buying an additional 185,777 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of The Finish Line during the second quarter worth about $40,831,000. Finally, Boston Partners boosted its stake in shares of The Finish Line by 5.8% in the third quarter. Boston Partners now owns 1,766,226 shares of the company’s stock worth $40,764,000 after buying an additional 97,485 shares during the last quarter.
Shares of The Finish Line (NASDAQ:FINL) opened at 23.82 on Friday. The firm’s 50-day moving average is $21.34 and its 200 day moving average is $21.01. The Finish Line has a 1-year low of $15.37 and a 1-year high of $24.52. The company has a market cap of $966.19 million, a price-to-earnings ratio of 75.38 and a beta of 1.24.
The Finish Line (NASDAQ:FINL) last released its quarterly earnings data on Friday, September 23rd. The company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The Finish Line had a return on equity of 8.83% and a net margin of 0.72%. The firm had revenue of $509.40 million for the quarter. During the same quarter in the prior year, the company posted $0.57 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts expect that The Finish Line will post $1.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 25th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.68%. The Finish Line’s dividend payout ratio is currently 108.11%.
A number of equities research analysts have recently commented on the stock. Susquehanna assumed coverage on shares of The Finish Line in a report on Tuesday, October 11th. They set a “neutral” rating and a $23.00 price target for the company. B. Riley reiterated a “buy” rating and set a $26.00 price target on shares of The Finish Line in a report on Monday, September 26th. Robert W. Baird reiterated a “neutral” rating and set a $21.00 price target on shares of The Finish Line in a report on Monday, July 25th. TheStreet upgraded shares of The Finish Line from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $21.00 price target on shares of The Finish Line in a report on Tuesday, September 20th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.00.
About The Finish Line
Finish Line, Inc is a specialty retailer. The Company operates two retail divisions: the Finish Line and JackRabbit brands. Finish Line is a retailer of athletic shoes, apparel and accessories. The Company operates approximately 590 Finish Line stores, which average over 5,550 square feet, in approximately 40 United States’ states and Puerto Rico.
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