Hanesbrands Inc. (NYSE:HBI) Shares Sold by Balanced Rock Investment Advisors LLC

Balanced Rock Investment Advisors LLC cut its stake in shares of Hanesbrands Inc. (NYSE:HBI) by 24.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,444 shares of the textile maker’s stock after selling 15,044 shares during the quarter. Balanced Rock Investment Advisors LLC’s holdings in Hanesbrands were worth $386,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HBI. Stifel Financial Corp lifted its stake in Hanesbrands by 7.8% in the 3rd quarter. Stifel Financial Corp now owns 201,501 shares of the textile maker’s stock valued at $1,481,000 after buying an additional 14,655 shares in the last quarter. Geode Capital Management LLC raised its stake in Hanesbrands by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,914,447 shares of the textile maker’s stock valued at $58,183,000 after purchasing an additional 89,367 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Hanesbrands in the 3rd quarter valued at about $130,000. Optimist Retirement Group LLC acquired a new stake in shares of Hanesbrands during the 3rd quarter worth about $256,000. Finally, Tidal Investments LLC purchased a new stake in shares of Hanesbrands during the third quarter worth about $1,021,000. Hedge funds and other institutional investors own 80.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered their target price on shares of Hanesbrands from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 10th.

Hanesbrands Stock Performance

NYSE:HBI opened at $4.40 on Friday. The firm has a 50-day moving average of $5.73 and a two-hundred day moving average of $7.21. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.37 and a quick ratio of 0.68. The stock has a market cap of $1.55 billion, a P/E ratio of -4.78 and a beta of 1.55. Hanesbrands Inc. has a 1-year low of $4.02 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 for the quarter, topping analysts’ consensus estimates 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 negative net margin of 8.06% and a positive return on equity of 108.01%. On average, research analysts expect that Hanesbrands Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Activity at Hanesbrands

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

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.