nVerses Capital LLC Takes $86,000 Position in Hanesbrands Inc. (NYSE:HBI)

nVerses Capital LLC bought a new position in shares of Hanesbrands Inc. (NYSE:HBI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,500 shares of the textile maker’s stock, valued at approximately $86,000.

Several other hedge funds also recently modified their holdings of HBI. Vanguard Group Inc. lifted its position in shares of Hanesbrands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 40,265,899 shares of the textile maker’s stock valued at $233,542,000 after acquiring an additional 1,362,140 shares during the last quarter. Loews Corp increased its position in shares of Hanesbrands by 108.7% in the second quarter. Loews Corp now owns 29,197,796 shares of the textile maker’s stock worth $143,945,000 after acquiring an additional 15,206,007 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hanesbrands by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,749,433 shares of the textile maker’s stock valued at $25,642,000 after acquiring an additional 632,865 shares during the period. Brandes Investment Partners LP lifted its position in shares of Hanesbrands by 10.9% in the 4th quarter. Brandes Investment Partners LP now owns 4,298,017 shares of the textile maker’s stock valued at $19,169,000 after acquiring an additional 423,214 shares in the last quarter. Finally, Morningstar Investment Services LLC boosted its stake in Hanesbrands by 93.1% in the 4th quarter. Morningstar Investment Services LLC now owns 4,290,891 shares of the textile maker’s stock worth $19,051,000 after purchasing an additional 2,069,204 shares during the period. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Price Performance

NYSE HBI opened at $6.34 on Wednesday. The company has a 50 day moving average price of $5.63 and a two-hundred day moving average price of $5.24. Hanesbrands Inc. has a 12-month low of $3.54 and a 12-month high of $6.77. The stock has a market capitalization of $2.23 billion, a PE ratio of -105.67 and a beta of 1.59. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last posted its earnings results on Thursday, August 8th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, equities analysts predict that Hanesbrands Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HBI shares. UBS Group upped their price target on Hanesbrands from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, August 27th. Stifel Nicolaus increased their price target on shares of Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Barclays boosted their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of Hanesbrands in a research report on Thursday, June 6th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hanesbrands has an average rating of “Hold” and an average target price of $5.80.

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.