JOANN Inc. (NASDAQ:JOAN) Director Equity Investors Cf L.P Green Sells 7,812 Shares

JOANN Inc. (NASDAQ:JOANGet Rating) Director Equity Investors Cf L.P Green sold 7,812 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $8.43, for a total transaction of $65,855.16. Following the completion of the sale, the director now owns 59,280 shares in the company, valued at $499,730.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

JOANN Price Performance

JOANN stock opened at $8.61 on Tuesday. The stock has a market cap of $351.18 million, a price-to-earnings ratio of -6.11 and a beta of 1.35. The company has a debt-to-equity ratio of 19.77, a current ratio of 1.47 and a quick ratio of 0.17. JOANN Inc. has a 1 year low of $6.23 and a 1 year high of $13.55. The firm has a 50-day moving average of $8.79 and a two-hundred day moving average of $9.52.

JOANN (NASDAQ:JOANGet Rating) last released its quarterly earnings data on Thursday, September 1st. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.20). The company had revenue of $463.30 million during the quarter, compared to analysts’ expectations of $449.87 million. JOANN had a negative net margin of 2.41% and a positive return on equity of 32.67%. JOANN’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. On average, research analysts forecast that JOANN Inc. will post 0.05 earnings per share for the current year.

JOANN Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.44 annualized dividend and a dividend yield of 5.11%. JOANN’s payout ratio is presently -31.21%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of JOANN from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Friday, September 2nd. Telsey Advisory Group cut their price target on shares of JOANN from $9.00 to $8.00 and set a “market perform” rating on the stock in a report on Friday, June 3rd. Barclays cut their price target on shares of JOANN from $9.00 to $5.00 and set an “underweight” rating on the stock in a report on Monday, June 6th. Bank of America downgraded shares of JOANN from a “neutral” rating to an “underperform” rating in a report on Wednesday, August 31st. Finally, Loop Capital downgraded shares of JOANN from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $8.00 in a report on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.50.

Institutional Investors Weigh In On JOANN

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its position in shares of JOANN by 86.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,800 shares of the company’s stock worth $31,000 after purchasing an additional 1,300 shares during the period. UBS Group AG raised its stake in shares of JOANN by 141.5% during the 2nd quarter. UBS Group AG now owns 3,383 shares of the company’s stock worth $26,000 after acquiring an additional 1,982 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of JOANN during the 1st quarter worth approximately $52,000. New York State Common Retirement Fund raised its stake in shares of JOANN by 920.0% during the 1st quarter. New York State Common Retirement Fund now owns 10,200 shares of the company’s stock worth $116,000 after acquiring an additional 9,200 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in shares of JOANN during the 1st quarter worth approximately $122,000. Hedge funds and other institutional investors own 95.20% of the company’s stock.

About JOANN

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JOANN Inc operates as a specialty retailer of sewing and fabrics, and arts and crafts category products in the United States. Its products in sewing category include cotton fabrics; warm fabrics, such as fleece and flannel fabrics; home decorating and utility fabrics and accessories; fashion and sportswear fabrics; special occasion fabrics; seasonally themed and licensed fabric designs; and sewing construction supplies comprising cutting implements, threads, zippers, trims, tapes, pins, elastic, and buttons, as well as patterns for sewing projects.

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