Pathway Capital Management LP Takes Position in The Honest Company, Inc. (NASDAQ:HNST)

Pathway Capital Management LP bought a new stake in The Honest Company, Inc. (NASDAQ:HNST) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 185,666 shares of the company’s stock, valued at approximately $1,287,000. Honest makes up approximately 1.3% of Pathway Capital Management LP’s holdings, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zacks Investment Management acquired a new position in shares of Honest in the 3rd quarter valued at approximately $37,000. Creative Planning acquired a new position in shares of Honest in the 3rd quarter valued at approximately $39,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Honest in the 3rd quarter valued at approximately $40,000. New York State Teachers Retirement System acquired a new position in shares of Honest in the 4th quarter valued at approximately $52,000. Finally, US Bancorp DE acquired a new position in shares of Honest in the 3rd quarter valued at approximately $78,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Honest Stock Performance

Shares of NASDAQ HNST opened at $5.40 on Friday. The company has a market capitalization of $545.19 million, a P/E ratio of -135.00 and a beta of 2.43. The Honest Company, Inc. has a 52-week low of $2.40 and a 52-week high of $8.97. The company’s 50 day moving average price is $6.27 and its 200-day moving average price is $5.45.

Honest (NASDAQ:HNST) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $99.84 million for the quarter, compared to the consensus estimate of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. Analysts forecast that The Honest Company, Inc. will post -0.07 earnings per share for the current year.

Insider Activity at Honest

In related news, Director Jessica Warren sold 465,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total transaction of $3,510,750.00. Following the transaction, the director now owns 1,170,058 shares in the company, valued at $8,833,937.90. The trade was a 28.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HNST has been the topic of several research reports. Alliance Global Partners lifted their price target on shares of Honest from $5.75 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Loop Capital lowered shares of Honest from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a report on Tuesday, December 17th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $7.00 price target on shares of Honest in a report on Thursday. Northland Securities lifted their price target on shares of Honest from $7.50 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, B. Riley lifted their price target on shares of Honest from $6.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Honest presently has an average rating of “Moderate Buy” and an average target price of $6.93.

About Honest

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.