Smartleaf Asset Management LLC Grows Position in Hanesbrands Inc. (NYSE:HBI)

Smartleaf Asset Management LLC raised its position in shares of Hanesbrands Inc. (NYSE:HBI) by 122.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,920 shares of the textile maker’s stock after purchasing an additional 2,712 shares during the period. Smartleaf Asset Management LLC’s holdings in Hanesbrands were worth $40,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HBI. Hennessy Advisors Inc. purchased a new position in shares of Hanesbrands in the fourth quarter worth about $62,199,000. JPMorgan Chase & Co. increased its stake in shares of Hanesbrands by 484.0% during 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 in the last quarter. Verition Fund Management LLC bought a new position in shares of Hanesbrands during the third quarter valued at $7,249,000. BNP Paribas Financial Markets lifted its position in Hanesbrands by 388.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 742,314 shares of the textile maker’s stock valued at $5,456,000 after acquiring an additional 590,493 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Hanesbrands in the 4th quarter worth about $2,066,000. Institutional investors own 80.31% of the company’s stock.

Insider Activity

In related news, Director Robert F. Moran acquired 74,850 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $6.01 per share, with a total value of $449,848.50. Following the completion of the transaction, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus reiterated a “hold” rating and set a $7.00 price objective (down previously from $8.00) on shares of Hanesbrands in a research report on Friday, February 14th. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.00 to $11.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Hanesbrands has a consensus rating of “Hold” and an average price target of $7.10.

Hanesbrands Stock Performance

Shares of NYSE:HBI opened at $5.77 on Wednesday. Hanesbrands Inc. has a 52 week low of $4.40 and a 52 week high of $9.10. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28. The firm has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $7.48. The stock has a market capitalization of $2.04 billion, a P/E ratio of -6.27 and a beta of 1.75.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $888.47 million during the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. On average, analysts expect that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

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.