Hibbett Sports (NASDAQ:HIBB) Trading 1.9% Higher on Insider Buying Activity

Hibbett Sports, Inc. (NASDAQ:HIBB) traded up 1.9% during trading on Wednesday following insider buying activity. The company traded as high as $11.13 and last traded at $10.62, 25,463 shares changed hands during mid-day trading. A decline of 96% from the average session volume of 712,369 shares. The stock had previously closed at $10.42.

Specifically, CEO Michael E. Longo acquired 15,000 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was acquired at an average cost of $9.00 per share, with a total value of $135,000.00. Following the acquisition, the chief executive officer now directly owns 30,000 shares in the company, valued at approximately $270,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Several research firms recently weighed in on HIBB. BidaskClub cut shares of Hibbett Sports from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 7th. Susquehanna Bancshares cut shares of Hibbett Sports from a “positive” rating to a “neutral” rating in a research note on Monday. Robert W. Baird decreased their price target on shares of Hibbett Sports from $32.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Bank of America increased their price objective on shares of Hibbett Sports from $16.00 to $19.00 and gave the company an “underperform” rating in a report on Monday, December 2nd. Finally, ValuEngine upgraded Hibbett Sports from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Sell” and an average price target of $20.60.

The firm has a market cap of $180.62 million, a P/E ratio of 7.52, a P/E/G ratio of 0.45 and a beta of 0.71. The stock has a 50 day simple moving average of $18.59 and a 200-day simple moving average of $23.19. The company has a current ratio of 1.59, a quick ratio of 0.36 and a debt-to-equity ratio of 0.58.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, March 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Hibbett Sports had a net margin of 2.27% and a return on equity of 12.39%. The firm had revenue of $313.00 million for the quarter, compared to the consensus estimate of $303.63 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Hibbett Sports, Inc. will post 1.9 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in shares of Hibbett Sports by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 262,956 shares of the company’s stock worth $7,372,000 after buying an additional 12,085 shares in the last quarter. Man Group plc raised its position in shares of Hibbett Sports by 9.7% during the 4th quarter. Man Group plc now owns 261,758 shares of the company’s stock valued at $7,340,000 after buying an additional 23,100 shares in the last quarter. Alberta Investment Management Corp raised its position in shares of Hibbett Sports by 19.3% during the 4th quarter. Alberta Investment Management Corp now owns 29,100 shares of the company’s stock valued at $816,000 after buying an additional 4,700 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Hibbett Sports in the 4th quarter valued at about $2,246,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Hibbett Sports by 53.8% in the 4th quarter. AQR Capital Management LLC now owns 23,049 shares of the company’s stock valued at $646,000 after acquiring an additional 8,060 shares during the last quarter.

Hibbett Sports Company Profile (NASDAQ:HIBB)

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

See Also: SEC Filing

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