Convergence Investment Partners LLC Takes Position in Hasbro, Inc. $HAS

Convergence Investment Partners LLC acquired a new stake in shares of Hasbro, Inc. (NASDAQ:HAS) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 6,224 shares of the company’s stock, valued at approximately $510,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of Hasbro during the 2nd quarter worth approximately $25,000. MUFG Securities EMEA plc bought a new position in shares of Hasbro during the 2nd quarter valued at approximately $28,000. First Horizon Corp bought a new stake in Hasbro in the third quarter worth $29,000. Foster Dykema Cabot & Partners LLC bought a new stake in Hasbro in the third quarter worth $34,000. Finally, Wexford Capital LP bought a new stake in Hasbro in the third quarter worth $37,000. Institutional investors own 91.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wolfe Research boosted their price target on shares of Hasbro from $90.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Roth Mkm set a $120.00 price target on shares of Hasbro in a research report on Wednesday, February 11th. UBS Group boosted their price target on shares of Hasbro from $99.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. DA Davidson reduced their price target on shares of Hasbro from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Finally, Argus set a $105.00 price target on shares of Hasbro in a research report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Hasbro has an average rating of “Moderate Buy” and a consensus price target of $113.14.

Insider Activity

In other news, CEO Christian P. Cocks sold 196,411 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $100.33, for a total transaction of $19,705,915.63. Following the completion of the sale, the chief executive officer directly owned 303,310 shares of the company’s stock, valued at approximately $30,431,092.30. The trade was a 39.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

Hasbro Stock Down 0.4%

Shares of HAS opened at $95.25 on Friday. The firm has a market capitalization of $13.48 billion, a P/E ratio of -40.53, a P/E/G ratio of 2.78 and a beta of 0.52. Hasbro, Inc. has a 12-month low of $64.74 and a 12-month high of $106.98. The company has a current ratio of 1.65, a quick ratio of 1.24 and a debt-to-equity ratio of 4.59. The firm has a fifty day moving average price of $93.46 and a 200-day moving average price of $88.90.

Hasbro (NASDAQ:HAS) last issued its earnings results on Wednesday, May 20th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.27. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $969.20 million. Hasbro had a negative net margin of 4.62% and a positive return on equity of 172.27%. Equities research analysts expect that Hasbro, Inc. will post 5.8 earnings per share for the current year.

Hasbro Profile

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company’s brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.