Picton Mahoney Asset Management Takes $222,000 Position in Hanesbrands Inc. (NYSE:HBI)

Picton Mahoney Asset Management purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,300 shares of the textile maker’s stock, valued at approximately $222,000.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Hanesbrands by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,720,247 shares of the textile maker’s stock worth $14,003,000 after buying an additional 53,995 shares during the last quarter. FMR LLC raised its holdings in Hanesbrands by 203.5% during the third quarter. FMR LLC now owns 115,833 shares of the textile maker’s stock worth $851,000 after purchasing an additional 77,669 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in Hanesbrands by 31.4% in the 4th quarter. Alberta Investment Management Corp now owns 398,423 shares of the textile maker’s stock valued at $3,243,000 after purchasing an additional 95,177 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Hanesbrands during the 4th quarter worth approximately $62,199,000. Finally, Taika Capital LP purchased a new position in shares of Hanesbrands during the 4th quarter worth approximately $1,054,000. 80.31% of the stock is owned by institutional investors and hedge funds.

Hanesbrands Stock Performance

Shares of HBI stock opened at $5.90 on Monday. The stock has a fifty day moving average price of $7.23 and a 200 day moving average price of $7.46. 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 $2.08 billion, a PE ratio of -6.41 and a beta of 1.75. Hanesbrands Inc. has a 1 year low of $4.40 and a 1 year high of $9.10.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $888.47 million during the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. Sell-side analysts forecast that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on HBI. UBS Group upgraded Hanesbrands from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $11.00 in a research note on Tuesday, November 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $7.00 price target (down from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.10.

Insider Transactions at Hanesbrands

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

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.