Engineers Gate Manager LP Acquires Shares of 49,604 Finish Line Inc (FINL)
Engineers Gate Manager LP acquired a new stake in Finish Line Inc (NASDAQ:FINL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 49,604 shares of the specialty retailer’s stock, valued at approximately $597,000. Engineers Gate Manager LP owned about 0.12% of Finish Line as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of FINL. Teachers Advisors LLC raised its holdings in shares of Finish Line by 4.1% in the first quarter. Teachers Advisors LLC now owns 73,151 shares of the specialty retailer’s stock valued at $1,041,000 after purchasing an additional 2,850 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Finish Line in the second quarter valued at approximately $174,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of Finish Line by 9.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 20,390 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 1,800 shares during the last quarter. NGAM Advisors L.P. raised its holdings in shares of Finish Line by 1.6% in the second quarter. NGAM Advisors L.P. now owns 15,461 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 240 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Finish Line by 6.3% in the second quarter. Great West Life Assurance Co. Can now owns 59,298 shares of the specialty retailer’s stock valued at $839,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 99.96% of the company’s stock.
A number of brokerages recently weighed in on FINL. Zacks Investment Research downgraded shares of Finish Line from a “hold” rating to a “sell” rating in a report on Monday, August 28th. Deutsche Bank downgraded shares of Finish Line from a “hold” rating to a “sell” rating and lowered their target price for the stock from $15.00 to $5.00 in a report on Tuesday, August 29th. Susquehanna Bancshares upgraded shares of Finish Line from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $9.00 to $12.00 in a report on Wednesday, September 13th. Cowen set a $10.00 target price on shares of Finish Line and gave the stock a “hold” rating in a report on Monday, October 23rd. Finally, Morgan Stanley lowered their target price on shares of Finish Line from $13.50 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 13th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company. Finish Line has a consensus rating of “Hold” and an average price target of $11.00.
Finish Line (NASDAQ:FINL) last released its quarterly earnings data on Friday, September 22nd. The specialty retailer reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Finish Line had a negative net margin of 2.13% and a positive return on equity of 5.44%. The firm had revenue of $469.40 million for the quarter, compared to the consensus estimate of $478.25 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. equities research analysts expect that Finish Line Inc will post 0.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 24th were issued a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $0.44 annualized dividend and a dividend yield of 3.63%. Finish Line’s dividend payout ratio is currently -45.83%.
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About Finish Line
The Finish Line, Inc is a specialty retailer. The Company is a retailer of athletic shoes, apparel and accessories for men, women and kids, throughout the United States and Puerto Rico. The Company operates through the Finish Line brand. Finish Line is a retailer of athletic shoes, apparel and accessories.
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