Short Interest in Hibbett, Inc. (NASDAQ:HIBB) Drops By 16.7%

Hibbett, Inc. (NASDAQ:HIBBGet Rating) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 2,250,000 shares, a drop of 16.7% from the March 31st total of 2,700,000 shares. Currently, 18.8% of the company’s stock are short sold. Based on an average daily volume of 487,400 shares, the short-interest ratio is presently 4.6 days.

Hibbett stock opened at $46.06 on Wednesday. The company’s 50 day moving average price is $45.67 and its two-hundred day moving average price is $62.87. Hibbett has a 52 week low of $40.30 and a 52 week high of $101.65. The stock has a market cap of $605.23 million, a P/E ratio of 4.27, a P/E/G ratio of 1.12 and a beta of 1.89.

Hibbett (NASDAQ:HIBBGet Rating) last released its quarterly earnings data on Friday, March 4th. The company reported $1.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.25. The company had revenue of $383.35 million during the quarter, compared to the consensus estimate of $383.87 million. Hibbett had a net margin of 10.31% and a return on equity of 48.53%. Hibbett’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $1.40 EPS. As a group, sell-side analysts expect that Hibbett will post 9.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 29th. Investors of record on Thursday, March 17th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. Hibbett’s payout ratio is 9.27%.

Several large investors have recently made changes to their positions in HIBB. FMR LLC raised its holdings in shares of Hibbett by 0.3% during the first quarter. FMR LLC now owns 1,329,262 shares of the company’s stock valued at $30,321,000 after acquiring an additional 3,600 shares in the last quarter. Morgan Stanley grew its stake in shares of Hibbett by 4.7% in the first quarter. Morgan Stanley now owns 206,260 shares of the company’s stock worth $2,255,000 after acquiring an additional 9,242 shares during the period. SG Americas Securities LLC purchased a new position in shares of Hibbett in the 3rd quarter worth $843,000. Raymond James & Associates increased its position in shares of Hibbett by 125.4% during the 3rd quarter. Raymond James & Associates now owns 8,590 shares of the company’s stock valued at $608,000 after purchasing an additional 4,779 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Hibbett by 3.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 54,470 shares of the company’s stock worth $3,852,000 after acquiring an additional 2,003 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

HIBB has been the topic of several recent research reports. Benchmark lowered their price target on shares of Hibbett from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 7th. StockNews.com assumed coverage on Hibbett in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded shares of Hibbett from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, February 1st. Telsey Advisory Group reduced their target price on Hibbett from $110.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, February 18th. Finally, Robert W. Baird cut their target price on Hibbett from $100.00 to $75.00 and set an “outperform” rating for the company in a research note on Monday, February 21st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $77.33.

Hibbett Company Profile (Get Rating)

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in small and mid-sized communities in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories.

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