K2 Principal Fund L.P. Makes New Investment in Hanesbrands Inc. (NYSE:HBI)

K2 Principal Fund L.P. purchased a new stake in Hanesbrands Inc. (NYSE:HBI) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 50,000 shares of the textile maker’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Concord Wealth Partners boosted its holdings in Hanesbrands by 220.3% in the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock worth $31,000 after acquiring an additional 3,618 shares in the last quarter. Tradewinds Capital Management LLC acquired a new stake in Hanesbrands in the 1st quarter worth approximately $35,000. Rothschild Investment LLC purchased a new stake in Hanesbrands during the 2nd quarter worth approximately $39,000. Hollencrest Capital Management acquired a new position in Hanesbrands during the 1st quarter valued at approximately $41,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Hanesbrands in the first quarter worth $44,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Hanesbrands Trading Down 3.9 %

HBI opened at $6.71 on Tuesday. The business has a fifty day moving average price of $6.10 and a 200 day moving average price of $5.39. The company has a debt-to-equity ratio of 50.06, a current ratio of 1.46 and a quick ratio of 0.86. Hanesbrands Inc. has a 12 month low of $3.54 and a 12 month high of $7.06. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -111.75 and a beta of 1.57.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $995.40 million during the quarter, compared to analysts’ expectations of $1.35 billion. Hanesbrands had a positive return on equity of 33.23% and a negative net margin of 6.02%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. Sell-side analysts expect that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HBI has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on Hanesbrands from $4.50 to $6.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Barclays raised their price target on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Hanesbrands in a report on Thursday, June 6th. Finally, UBS Group raised their target price on shares of Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.80.

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.