Magnetar Financial LLC Buys Shares of 503,868 HSN, Inc. (HSNI)
Magnetar Financial LLC bought a new position in HSN, Inc. (NASDAQ:HSNI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 503,868 shares of the specialty retailer’s stock, valued at approximately $19,676,000. Magnetar Financial LLC owned approximately 0.96% of HSN at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. US Bancorp DE raised its position in shares of HSN by 0.4% during the 2nd quarter. US Bancorp DE now owns 4,345 shares of the specialty retailer’s stock valued at $139,000 after buying an additional 19 shares in the last quarter. First Mercantile Trust Co. raised its position in shares of HSN by 70.4% during the 2nd quarter. First Mercantile Trust Co. now owns 4,600 shares of the specialty retailer’s stock valued at $147,000 after buying an additional 1,900 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of HSN by 7.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 6,450 shares of the specialty retailer’s stock valued at $206,000 after buying an additional 440 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of HSN during the 2nd quarter valued at $239,000. Finally, Louisiana State Employees Retirement System raised its position in shares of HSN by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the specialty retailer’s stock valued at $265,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 57.69% of the company’s stock.
Several research firms have recently weighed in on HSNI. BidaskClub cut shares of HSN from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. B. Riley restated a “hold” rating and set a $36.00 price objective on shares of HSN in a research report on Thursday, November 9th. UBS lowered their price objective on shares of HSN from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, November 9th. Finally, Zacks Investment Research cut shares of HSN from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $43.00.
HSN (NASDAQ:HSNI) last issued its earnings results on Wednesday, November 8th. The specialty retailer reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.07). The business had revenue of $782.56 million during the quarter, compared to analysts’ expectations of $804.04 million. HSN had a return on equity of 56.55% and a net margin of 3.29%. HSN’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. analysts forecast that HSN, Inc. will post 2.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, December 6th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, December 5th. HSN’s payout ratio is presently 65.12%.
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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