Man Group plc Buys New Stake in The Hain Celestial Group, Inc. $HAIN

Man Group plc purchased a new position in shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,339,405 shares of the company’s stock, valued at approximately $750,000. Man Group plc owned 1.48% of The Hain Celestial Group at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HAIN. Millennium Management LLC grew its stake in shares of The Hain Celestial Group by 295.4% in the first quarter. Millennium Management LLC now owns 4,731,690 shares of the company’s stock valued at $19,637,000 after buying an additional 3,535,073 shares in the last quarter. Nantahala Capital Management LLC grew its stake in shares of The Hain Celestial Group by 117.6% during the fourth quarter. Nantahala Capital Management LLC now owns 6,528,789 shares of the company’s stock valued at $6,986,000 after acquiring an additional 3,528,789 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of The Hain Celestial Group during the second quarter worth about $1,624,000. Charles Schwab Investment Management Inc. increased its position in shares of The Hain Celestial Group by 33.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,853,731 shares of the company’s stock worth $6,263,000 after acquiring an additional 1,470,360 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of The Hain Celestial Group in the fourth quarter worth about $1,275,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HAIN. Wall Street Zen upgraded The Hain Celestial Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Jefferies Financial Group reduced their target price on The Hain Celestial Group from $1.03 to $0.81 and set a “hold” rating for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings lowered shares of The Hain Celestial Group from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, August 28th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $1.06.

The Hain Celestial Group Stock Performance

NASDAQ:HAIN opened at $0.75 on Friday. The company has a market capitalization of $67.25 million, a price-to-earnings ratio of -0.13 and a beta of 0.80. The Hain Celestial Group, Inc. has a one year low of $0.48 and a one year high of $2.17. The stock has a 50-day simple moving average of $0.60 and a 200 day simple moving average of $0.69.

The Hain Celestial Group Profile

The Hain Celestial Group, Inc (NASDAQ: HAIN) is a leading global producer and marketer of natural and organic branded products. The company operates through two principal segments—Grocery and Personal Care—offering a diversified portfolio that spans shelf-stable foods, snacks, beverages, condiments and natural personal care items. Its product lineup addresses growing consumer demand for clean-label, plant-based and ethically sourced offerings in everyday categories.

Within its Grocery segment, Hain Celestial markets well-known brands such as Celestial Seasonings teas, Earth’s Best organic baby foods, Rudi’s organic bakery items, Terra vegetable chips and Sensible Portions snacks.