Hasbro (NASDAQ:HAS) Trading Up 9% on Strong Earnings

Hasbro, Inc. (NASDAQ:HAS)’s stock price was up 9% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $68.73 and last traded at $66.65. Approximately 1,131,658 shares changed hands during trading, a decline of 14% from the average daily volume of 1,315,244 shares. The stock had previously closed at $61.14.

The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.10. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%.

Analyst Ratings Changes

HAS has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Hasbro from $80.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus dropped their price objective on shares of Hasbro from $82.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, DA Davidson raised their target price on shares of Hasbro from $59.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hasbro has an average rating of “Moderate Buy” and a consensus target price of $80.11.

Insider Activity

In other news, EVP Matthew Edward Austin sold 1,718 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $65.06, for a total transaction of $111,773.08. Following the transaction, the executive vice president now directly owns 36,828 shares of the company’s stock, valued at $2,396,029.68. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Hasbro

A number of hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in shares of Hasbro by 2.9% during the fourth quarter. Toronto Dominion Bank now owns 52,495 shares of the company’s stock valued at $2,935,000 after purchasing an additional 1,485 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Hasbro in the 4th quarter worth approximately $3,719,000. Castleark Management LLC lifted its holdings in shares of Hasbro by 2.6% during the 4th quarter. Castleark Management LLC now owns 103,500 shares of the company’s stock valued at $5,787,000 after buying an additional 2,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Hasbro by 7.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 596,545 shares of the company’s stock worth $33,353,000 after buying an additional 41,016 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Hasbro in the fourth quarter worth $440,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Hasbro Stock Performance

The company has a market cap of $9.31 billion, a P/E ratio of -14.41, a P/E/G ratio of 0.53 and a beta of 0.64. The company has a quick ratio of 1.29, a current ratio of 1.47 and a debt-to-equity ratio of 2.64. The business has a fifty day simple moving average of $58.21 and a two-hundred day simple moving average of $64.13.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.