Y Intercept Hong Kong Ltd Boosts Holdings in Boot Barn Holdings, Inc. $BOOT

Y Intercept Hong Kong Ltd raised its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 261.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,744 shares of the company’s stock after buying an additional 12,116 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.05% of Boot Barn worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BOOT. Marshall Wace LLP increased its holdings in Boot Barn by 63.3% in the 2nd quarter. Marshall Wace LLP now owns 655,923 shares of the company’s stock valued at $99,700,000 after acquiring an additional 254,296 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Boot Barn during the second quarter valued at about $34,790,000. Fiera Capital Corp bought a new stake in shares of Boot Barn in the second quarter worth about $33,686,000. Fisher Asset Management LLC lifted its position in shares of Boot Barn by 4,784.7% in the second quarter. Fisher Asset Management LLC now owns 165,494 shares of the company’s stock worth $25,155,000 after buying an additional 162,106 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its stake in Boot Barn by 92.5% during the third quarter. Tributary Capital Management LLC now owns 258,932 shares of the company’s stock valued at $42,910,000 after buying an additional 124,444 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BOOT. Zacks Research downgraded Boot Barn from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. BTIG Research upped their price target on shares of Boot Barn from $226.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Boot Barn in a research note on Wednesday, January 21st. Seaport Research Partners downgraded shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Piper Sandler lifted their price target on Boot Barn from $220.00 to $229.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.08.

Boot Barn Stock Performance

Shares of BOOT stock opened at $178.16 on Wednesday. The firm has a market capitalization of $5.43 billion, a P/E ratio of 26.35, a P/E/G ratio of 1.34 and a beta of 1.61. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $210.25. The stock has a 50 day moving average price of $191.35 and a 200 day moving average price of $181.88.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. The company had revenue of $505.40 million during the quarter, compared to analyst estimates of $493.70 million. Boot Barn had a return on equity of 18.11% and a net margin of 10.05%.Boot Barn’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. As a group, sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Insider Transactions at Boot Barn

In other Boot Barn news, Director Gene Eddie Burt sold 1,200 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $191.41, for a total transaction of $229,692.00. Following the transaction, the director owned 3,338 shares of the company’s stock, valued at approximately $638,926.58. The trade was a 26.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Peter Starrett sold 6,498 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $190.00, for a total transaction of $1,234,620.00. Following the completion of the sale, the chairman directly owned 9,599 shares of the company’s stock, valued at $1,823,810. This represents a 40.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Boot Barn Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.