Blackhawk Network Holdings, Inc. (HAWK) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. lessened its holdings in Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,591 shares of the credit services provider’s stock after selling 1,220 shares during the period. JPMorgan Chase & Co. owned approximately 0.11% of Blackhawk Network Holdings worth $2,598,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Jana Partners LLC purchased a new position in shares of Blackhawk Network Holdings in the 1st quarter worth approximately $109,418,000. Bank of America Corp DE boosted its stake in shares of Blackhawk Network Holdings by 2.2% in the 1st quarter. Bank of America Corp DE now owns 479,604 shares of the credit services provider’s stock worth $19,471,000 after buying an additional 10,360 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Blackhawk Network Holdings in the 1st quarter worth approximately $229,000. Ameritas Investment Partners Inc. purchased a new position in shares of Blackhawk Network Holdings in the 1st quarter worth approximately $193,000. Finally, Eidelman Virant Capital boosted its stake in shares of Blackhawk Network Holdings by 16.6% in the 2nd quarter. Eidelman Virant Capital now owns 88,000 shares of the credit services provider’s stock worth $3,836,000 after buying an additional 12,500 shares during the last quarter. Hedge funds and other institutional investors own 95.31% of the company’s stock.
Blackhawk Network Holdings, Inc. (HAWK) opened at 35.15 on Friday. The company’s market cap is $1.99 billion. Blackhawk Network Holdings, Inc. has a 1-year low of $31.30 and a 1-year high of $46.70. The company has a 50-day moving average price of $43.78 and a 200-day moving average price of $42.63.
Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Wednesday, October 11th. The credit services provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Blackhawk Network Holdings had a negative net margin of 0.14% and a positive return on equity of 4.16%. The company had revenue of $419.30 million for the quarter, compared to the consensus estimate of $439.32 million. During the same period in the previous year, the firm posted $0.14 EPS. Blackhawk Network Holdings’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, analysts expect that Blackhawk Network Holdings, Inc. will post $1.68 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Raymond James Financial, Inc. restated a “market perform” rating on shares of Blackhawk Network Holdings in a research note on Thursday. BidaskClub upgraded Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. SunTrust Banks, Inc. set a $43.00 target price on Blackhawk Network Holdings and gave the stock a “buy” rating in a research note on Thursday. UBS AG downgraded Blackhawk Network Holdings from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Bank of America Corporation dropped their price objective on Blackhawk Network Holdings from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $46.31.
In other news, CFO Jerry N. Ulrich sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $45.15, for a total value of $3,386,250.00. Following the sale, the chief financial officer now directly owns 63,280 shares in the company, valued at approximately $2,857,092. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP David C. Tate sold 18,669 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $42.88, for a total transaction of $800,526.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,212 shares of company stock worth $4,298,465. Insiders own 3.80% of the company’s stock.
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Blackhawk Network Holdings Company Profile
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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