The Manufacturers Life Insurance Company Makes New Investment in The Honest Company, Inc. (NASDAQ:HNST)

The Manufacturers Life Insurance Company purchased a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 32,187 shares of the company’s stock, valued at approximately $94,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new stake in Honest during the first quarter valued at $3,777,000. Renaissance Technologies LLC grew its stake in shares of Honest by 117.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock valued at $4,579,000 after purchasing an additional 846,300 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Honest by 706.1% in the second quarter. Acadian Asset Management LLC now owns 716,332 shares of the company’s stock worth $2,088,000 after buying an additional 627,464 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Honest by 973.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 430,090 shares of the company’s stock valued at $1,742,000 after buying an additional 390,022 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Honest by 68.1% during the second quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock valued at $2,755,000 after buying an additional 382,418 shares during the last quarter. 45.54% of the stock is owned by institutional investors.

Honest Price Performance

HNST opened at $3.79 on Monday. The firm has a market capitalization of $373.84 million, a PE ratio of -16.48 and a beta of 1.87. The business’s 50-day moving average is $3.93 and its two-hundred day moving average is $3.37. The Honest Company, Inc. has a 1 year low of $1.07 and a 1 year high of $4.89.

Honest (NASDAQ:HNST) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. The firm had revenue of $93.05 million for the quarter, compared to the consensus estimate of $87.63 million. During the same quarter in the previous year, the firm earned ($0.14) EPS. As a group, sell-side analysts expect that The Honest Company, Inc. will post -0.1 EPS for the current year.

Insider Transactions at Honest

In other news, Director James D. White sold 70,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $3.98, for a total value of $278,600.00. Following the completion of the sale, the director now owns 309,244 shares of the company’s stock, valued at $1,230,791.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Honest news, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $29,694.64. Following the sale, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James D. White sold 70,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $3.98, for a total transaction of $278,600.00. Following the completion of the transaction, the director now directly owns 309,244 shares of the company’s stock, valued at approximately $1,230,791.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,531,187 shares of company stock valued at $9,018,480. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HNST shares. B. Riley initiated coverage on shares of Honest in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.50 price objective for the company. Northland Securities started coverage on Honest in a research note on Tuesday, August 6th. They issued an “outperform” rating and a $6.00 price objective for the company. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Loop Capital raised Honest from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Honest has an average rating of “Moderate Buy” and an average price target of $5.04.

Honest Company Profile

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.