Tower Research Capital LLC TRC Trims Position in Hanesbrands Inc. (NYSE:HBI)

Tower Research Capital LLC TRC trimmed its stake in Hanesbrands Inc. (NYSE:HBI) by 87.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,919 shares of the textile maker’s stock after selling 27,997 shares during the period. Tower Research Capital LLC TRC’s holdings in Hanesbrands were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in HBI. GeoWealth Management LLC lifted its position in shares of Hanesbrands by 2,278.8% in the fourth quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 3,327 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of 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 during the period. Transce3nd LLC purchased a new position in Hanesbrands during the 4th quarter valued at $45,000. WFA Asset Management Corp purchased a new stake in Hanesbrands in the 4th quarter valued at about $46,000. Finally, Allworth Financial LP lifted its holdings in shares of Hanesbrands by 459.2% in the 4th quarter. Allworth Financial LP now owns 8,220 shares of the textile maker’s stock worth $69,000 after buying an additional 6,750 shares during the period. 80.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HBI. Barclays set a $5.00 target price on Hanesbrands and gave the stock a “cautious” rating in a report on Monday, April 28th. UBS Group increased their price objective on shares of Hanesbrands from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Stifel Nicolaus dropped their price objective on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of Hanesbrands from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.40.

Hanesbrands Stock Performance

Shares of HBI opened at $5.25 on Friday. Hanesbrands Inc. has a 1 year low of $4.02 and a 1 year high of $9.10. The stock has a 50-day simple moving average of $5.12 and a 200-day simple moving average of $6.86. 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 capitalization of $1.85 billion, a PE ratio of -5.71 and a beta of 1.50.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. The firm had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. Hanesbrands’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. On average, analysts predict that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert F. Moran bought 74,850 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the transaction, the director now owns 216,373 shares of the company’s stock, valued at $1,300,401.73. This represents a 52.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

Hanesbrands Company 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.