Bayesian Capital Management LP Invests $243,000 in Hanesbrands Inc. (NYSE:HBI)

Bayesian Capital Management LP bought a new stake in Hanesbrands Inc. (NYSE:HBI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 29,900 shares of the textile maker’s stock, valued at approximately $243,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its holdings in shares of Hanesbrands by 2,278.8% during the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock worth $28,000 after purchasing an additional 3,327 shares during the period. Smartleaf Asset Management LLC lifted its position in Hanesbrands by 122.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after buying an additional 2,712 shares in the last quarter. Transce3nd LLC purchased a new stake in Hanesbrands during the fourth quarter worth approximately $45,000. WFA Asset Management Corp acquired a new stake in shares of Hanesbrands in the fourth quarter worth $46,000. Finally, GAMMA Investing LLC raised its stake in shares of Hanesbrands by 39.7% in the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock valued at $54,000 after acquiring an additional 1,895 shares during the period. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Trading Up 4.0 %

NYSE:HBI opened at $5.09 on Friday. Hanesbrands Inc. has a one year low of $4.02 and a one year high of $9.10. The business’s 50-day simple moving average is $5.18 and its 200 day simple moving average is $6.92. The company has a debt-to-equity ratio of 64.28, a quick ratio of 0.68 and a current ratio of 1.37. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -5.53 and a beta of 1.50.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $760.15 million during the quarter, compared to analysts’ expectations of $757.42 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) EPS. As a group, sell-side analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Hanesbrands

In other news, Director Robert F. Moran purchased 74,850 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the purchase, the director now 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Barclays set a $5.00 target price on Hanesbrands and gave the company a “cautious” rating in a research note on Monday, April 28th. UBS Group boosted their price target on Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lowered 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.20.

About Hanesbrands

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.