16,800 Shares in Boot Barn Holdings, Inc. (NYSE:BOOT) Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. bought a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) during the 1st quarter, HoldingsChannel.com reports. The fund bought 16,800 shares of the company’s stock, valued at approximately $1,805,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC boosted its stake in Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after acquiring an additional 111 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Boot Barn during the first quarter valued at about $29,000. Golden State Wealth Management LLC lifted its position in shares of Boot Barn by 263.6% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company’s stock valued at $30,000 after purchasing an additional 203 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Boot Barn by 210.8% during the first quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Boot Barn by 54.5% during the fourth quarter. Huntington National Bank now owns 794 shares of the company’s stock worth $121,000 after buying an additional 280 shares during the last quarter.

Boot Barn Stock Up 1.1%

NYSE:BOOT traded up $1.93 during mid-day trading on Friday, hitting $171.04. 65,237 shares of the stock traded hands, compared to its average volume of 921,183. The business’s 50-day moving average price is $159.15 and its 200 day moving average price is $136.43. The company has a market cap of $5.23 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.96 and a beta of 1.69. Boot Barn Holdings, Inc. has a 12-month low of $86.17 and a 12-month high of $177.10.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $453.75 million for the quarter, compared to analysts’ expectations of $458.56 million. Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. Boot Barn’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.96 EPS. Analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn declared that its board has approved a share buyback program on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Boot Barn

In related news, insider Michael A. Love sold 4,154 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the transaction, the insider owned 2,112 shares of the company’s stock, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the transaction, the insider directly owned 14,593 shares of the company’s stock, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BOOT shares. Craig Hallum upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Wednesday, April 23rd. Piper Sandler raised their price objective on shares of Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. UBS Group raised their price objective on shares of Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. KeyCorp decreased their price objective on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Finally, Stephens started coverage on shares of Boot Barn in a report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and a consensus price target of $173.67.

About Boot Barn

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.