Hanesbrands Inc. (NYSE:HBI) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 24.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,271 shares of the textile maker’s stock after selling 28,950 shares during the period. OLD National Bancorp IN’s holdings in Hanesbrands were worth $403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Hanesbrands during the third quarter valued at $40,000. Alhambra Investment Management LLC purchased a new position in Hanesbrands in the fourth quarter valued at $46,000. Journey Strategic Wealth LLC purchased a new position in Hanesbrands in the third quarter valued at $41,000. Sherbrooke Park Advisers LLC purchased a new position in Hanesbrands in the third quarter valued at $42,000. Finally, AXQ Capital LP purchased a new position in Hanesbrands in the third quarter valued at $43,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Hanesbrands from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Wedbush lifted their price objective on shares of Hanesbrands from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.00.

Hanesbrands Stock Performance

HBI stock opened at $4.86 on Thursday. The firm has a 50-day simple moving average of $5.12 and a 200-day simple moving average of $4.51. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. Hanesbrands Inc. has a 52 week low of $3.54 and a 52 week high of $5.86.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, February 15th. The textile maker reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, analysts predict that Hanesbrands Inc. will post 0.44 EPS for the current year.

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.