Proficio Capital Partners LLC Takes $346,000 Position in Hanesbrands Inc. (NYSE:HBI)

Proficio Capital Partners LLC purchased a new stake in Hanesbrands Inc. (NYSE:HBI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 42,532 shares of the textile maker’s stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atria Investments Inc lifted its position in Hanesbrands by 13.5% during the 4th quarter. Atria Investments Inc now owns 77,251 shares of the textile maker’s stock valued at $629,000 after purchasing an additional 9,160 shares during the period. Assetmark Inc. raised its stake in shares of Hanesbrands by 4,653.8% during the fourth quarter. Assetmark Inc. now owns 142,328 shares of the textile maker’s stock worth $1,159,000 after buying an additional 139,334 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Hanesbrands by 27.3% in the fourth quarter. Jones Financial Companies Lllp now owns 170,483 shares of the textile maker’s stock valued at $1,388,000 after buying an additional 36,579 shares during the period. Smartleaf Asset Management LLC boosted its stake in Hanesbrands by 122.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker’s stock valued at $40,000 after acquiring an additional 2,712 shares during the last quarter. Finally, Verus Capital Partners LLC bought a new position in Hanesbrands in the fourth quarter valued at approximately $195,000. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Stock Down 1.8 %

Shares of NYSE HBI opened at $5.93 on Wednesday. Hanesbrands Inc. has a 52-week low of $4.40 and a 52-week high of $9.10. 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 cap of $2.09 billion, a P/E ratio of -6.45 and a beta of 1.75. The firm has a 50 day moving average price of $6.95 and a 200 day moving average price of $7.45.

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

Insider Buying and Selling at Hanesbrands

In related news, Director Robert F. Moran bought 74,850 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the acquisition, the director now owns 216,373 shares of the company’s stock, valued at approximately $1,300,401.73. This represents a 52.89 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

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

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.