Penserra Capital Management LLC Increases Stake in HSN, Inc. (HSNI)
Penserra Capital Management LLC boosted its position in HSN, Inc. (NASDAQ:HSNI) by 490.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,174 shares of the specialty retailer’s stock after buying an additional 42,511 shares during the period. Penserra Capital Management LLC owned 0.10% of HSN worth $1,632,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in HSN by 23,031.4% in the first quarter. BlackRock Inc. now owns 3,240,483 shares of the specialty retailer’s stock worth $120,222,000 after buying an additional 3,226,474 shares during the period. Point72 Asset Management L.P. purchased a new position in HSN during the first quarter worth about $16,834,000. Foresters Investment Management Company Inc. purchased a new position in HSN during the first quarter worth about $9,124,000. Marshall Wace North America L.P. increased its position in HSN by 127.6% in the second quarter. Marshall Wace North America L.P. now owns 385,417 shares of the specialty retailer’s stock worth $12,333,000 after buying an additional 216,094 shares during the period. Finally, Teachers Advisors LLC increased its position in HSN by 342.3% in the fourth quarter. Teachers Advisors LLC now owns 277,844 shares of the specialty retailer’s stock worth $9,530,000 after buying an additional 215,022 shares during the period. Hedge funds and other institutional investors own 58.54% of the company’s stock.
HSN, Inc. (HSNI) opened at 36.10 on Friday. The stock has a market capitalization of $1.89 billion, a P/E ratio of 16.19 and a beta of 1.34. HSN, Inc. has a 52-week low of $30.75 and a 52-week high of $43.17. The company’s 50-day moving average price is $38.09 and its 200 day moving average price is $36.09.
HSN (NASDAQ:HSNI) last announced its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. HSN had a net margin of 3.36% and a return on equity of 64.60%. The company had revenue of $821.40 million for the quarter, compared to the consensus estimate of $831.18 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts predict that HSN, Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Wednesday, September 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Friday, September 1st. HSN’s dividend payout ratio (DPR) is presently 63.06%.
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A number of equities analysts have recently issued reports on HSNI shares. Zacks Investment Research downgraded HSN from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 9th. Maxim Group set a $46.00 price target on HSN and gave the stock a “buy” rating in a research note on Thursday, May 4th. Craig Hallum set a $40.00 price target on HSN and gave the stock a “hold” rating in a research note on Thursday, May 4th. ValuEngine downgraded HSN from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Aegis upgraded HSN from a “hold” rating to a “buy” rating in a research note on Monday, May 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $46.38.
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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