HSN, Inc. (NASDAQ:HSNI) Position Decreased by Renaissance Technologies LLC
Renaissance Technologies LLC cut its stake in shares of HSN, Inc. (NASDAQ:HSNI) by 40.3% during the first quarter, Holdings Channel reports. The institutional investor owned 104,578 shares of the specialty retailer’s stock after selling 70,622 shares during the period. Renaissance Technologies LLC’s holdings in HSN were worth $3,880,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in HSNI. Vanguard Group Inc. raised its position in HSN by 8.5% in the first quarter. Vanguard Group Inc. now owns 2,682,508 shares of the specialty retailer’s stock valued at $99,521,000 after buying an additional 209,968 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in HSN during the first quarter valued at about $6,265,000. MARSHALL WACE ASIA Ltd acquired a new position in HSN during the first quarter valued at about $6,265,000. Meeder Asset Management Inc. raised its position in HSN by 124.1% in the first quarter. Meeder Asset Management Inc. now owns 24,444 shares of the specialty retailer’s stock valued at $907,000 after buying an additional 13,537 shares in the last quarter. Finally, Foresters Investment Management Company Inc. acquired a new position in HSN during the first quarter valued at about $9,124,000. 59.54% of the stock is owned by institutional investors.
Shares of HSN, Inc. (NASDAQ:HSNI) traded down 9.91% during trading on Tuesday, reaching $35.90. The company’s stock had a trading volume of 470,496 shares. The firm’s 50-day moving average price is $35.92 and its 200-day moving average price is $35.80. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 17.01 and a beta of 1.34. HSN, Inc. has a one year low of $30.75 and a one year high of $47.45.
HSN (NASDAQ:HSNI) last announced its earnings results on Thursday, August 3rd. The specialty retailer reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $821.40 million during the quarter, compared to analyst estimates of $831.18 million. HSN had a net margin of 3.36% and a return on equity of 64.60%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. On average, equities analysts anticipate that HSN, Inc. will post $2.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.40 dividend on an annualized basis and a yield of 3.51%. HSN’s dividend payout ratio is presently 63.06%.
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Several research firms have recently issued reports on HSNI. FBR & Co upped their target price on HSN from $35.00 to $40.00 and gave the company a “mkt perform” rating in a report on Wednesday, July 12th. Maxim Group set a $61.00 target price on HSN and gave the company a “buy” rating in a report on Friday, July 7th. Sidoti lowered HSN from a “buy” rating to a “neutral” rating in a report on Thursday, July 6th. Aegis reduced their target price on HSN from $39.00 to $37.00 and set a “hold” rating for the company in a report on Thursday, July 6th. Finally, Zacks Investment Research raised HSN from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $47.56.
HSN Company Profile
HSN, Inc is an interactive multi-channel retailer. The Company markets and sells a range of third party and merchandise directly to consumers through various platforms, including television home shopping programing broadcast on the HSN television networks and other direct-response television marketing; catalogs, consisting of the Cornerstone portfolio of print catalogs, which includes, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements; Websites, which consist primarily of HSN.com, joymangano.com and the five branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.
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