Boot Barn Holdings, Inc. (NYSE:BOOT) Sees Significant Decrease in Short Interest

Boot Barn Holdings, Inc. (NYSE:BOOTGet Free Report) was the recipient of a large decline in short interest in May. As of May 31st, there was short interest totalling 3,210,000 shares, a decline of 12.5% from the May 15th total of 3,670,000 shares. Based on an average daily volume of 788,700 shares, the short-interest ratio is presently 4.1 days.

Insider Activity at Boot Barn

In related news, insider John Hazen sold 3,563 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $113.21, for a total value of $403,367.23. Following the transaction, the insider now directly owns 1,309 shares of the company’s stock, valued at approximately $148,191.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John Hazen sold 3,563 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $113.21, for a total value of $403,367.23. Following the completion of the transaction, the insider now directly owns 1,309 shares of the company’s stock, valued at approximately $148,191.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael A. Love sold 1,079 shares of Boot Barn stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.21, for a total transaction of $118,916.59. Following the sale, the insider now directly owns 2,112 shares in the company, valued at approximately $232,763.52. The disclosure for this sale can be found here. Insiders sold a total of 11,795 shares of company stock worth $1,329,686 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Boot Barn

Several hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. grew its holdings in shares of Boot Barn by 29.4% in the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock valued at $51,918,000 after purchasing an additional 124,060 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Boot Barn by 4.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 27,849 shares of the company’s stock worth $2,650,000 after buying an additional 1,179 shares in the last quarter. Janus Henderson Group PLC boosted its position in Boot Barn by 1,212.4% in the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after buying an additional 263,444 shares during the period. Kennedy Capital Management LLC acquired a new position in shares of Boot Barn in the first quarter worth $230,000. Finally, Bayesian Capital Management LP grew its stake in shares of Boot Barn by 208.4% in the first quarter. Bayesian Capital Management LP now owns 11,691 shares of the company’s stock worth $1,112,000 after acquiring an additional 7,900 shares in the last quarter.

Boot Barn Trading Up 2.6 %

NYSE BOOT traded up $3.43 during trading hours on Tuesday, reaching $133.81. The company had a trading volume of 734,717 shares, compared to its average volume of 825,964. Boot Barn has a 1-year low of $66.73 and a 1-year high of $134.00. The stock has a market capitalization of $4.07 billion, a P/E ratio of 27.88 and a beta of 2.16. The stock has a 50-day moving average of $112.18 and a 200 day moving average of $93.06.

Boot Barn (NYSE:BOOTGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. The business had revenue of $388.46 million during the quarter, compared to analysts’ expectations of $383.67 million. As a group, sell-side analysts predict that Boot Barn will post 4.82 EPS for the current year.

Analyst Upgrades and Downgrades

BOOT has been the topic of a number of research reports. TD Cowen raised their target price on shares of Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Benchmark lifted their price objective on Boot Barn from $110.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Piper Sandler upped their target price on Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Craig Hallum upped their price objective on shares of Boot Barn from $120.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, Robert W. Baird raised their price objective on shares of Boot Barn from $100.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $123.36.

Get Our Latest Analysis on Boot Barn

Boot Barn Company Profile

(Get Free Report)

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.

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