Hanesbrands Inc. (NYSE:HBI) Shares Sold by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C lessened its position in shares of Hanesbrands Inc. (NYSE:HBI) by 87.2% in the 4th quarter, HoldingsChannel reports. The fund owned 10,619 shares of the textile maker’s stock after selling 72,619 shares during the period. Deerfield Management Company L.P. Series C’s holdings in Hanesbrands were worth $86,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in shares of Hanesbrands during the fourth quarter worth $62,199,000. American Century Companies Inc. raised its position in shares of Hanesbrands by 147.7% during the 4th quarter. American Century Companies Inc. now owns 5,362,455 shares of the textile maker’s stock worth $43,650,000 after acquiring an additional 3,197,544 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Hanesbrands by 28.2% during the fourth quarter. Ameriprise Financial Inc. now owns 9,951,948 shares of the textile maker’s stock worth $81,009,000 after purchasing an additional 2,189,844 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Hanesbrands by 60.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,493,266 shares of the textile maker’s stock valued at $44,715,000 after purchasing an additional 2,069,315 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Hanesbrands by 484.0% in the third quarter. JPMorgan Chase & Co. now owns 2,143,791 shares of the textile maker’s stock valued at $15,757,000 after purchasing an additional 1,776,690 shares during the last quarter. 80.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HBI has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Hanesbrands from $5.00 to $3.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus decreased their price objective on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. UBS Group boosted their target price on Hanesbrands from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Barclays set a $5.00 price target on Hanesbrands and gave the stock a “cautious” rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.20.

Insider Buying and Selling

In related news, Director Robert F. Moran acquired 74,850 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the transaction, the director now directly owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. This trade represents a 52.89 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company’s stock.

Hanesbrands Stock Performance

NYSE HBI opened at $4.90 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. The business’s 50 day moving average is $5.20 and its two-hundred day moving average is $6.94. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -5.32 and a beta of 1.50. Hanesbrands Inc. has a 12-month low of $4.02 and a 12-month high of $9.10.

Hanesbrands (NYSE:HBI) last issued its earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $888.47 million during the quarter, compared to analysts’ expectations of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. Research analysts expect that Hanesbrands Inc. will post 0.53 EPS for the current year.

Hanesbrands Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.