Russell Investments Group Ltd. acquired a new position in The Finish Line, Inc. (NASDAQ:FINL) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 926,470 shares of the company’s stock, valued at approximately $17,575,000.
Several other hedge funds have also recently made changes to their positions in the company. Chicago Equity Partners LLC bought a new position in The Finish Line during the third quarter valued at approximately $711,000. Strs Ohio bought a new position in The Finish Line during the third quarter valued at approximately $863,000. California Public Employees Retirement System increased its position in The Finish Line by 3.3% in the third quarter. California Public Employees Retirement System now owns 225,359 shares of the company’s stock valued at $5,201,000 after buying an additional 7,200 shares during the period. Algert Global LLC bought a new position in The Finish Line during the third quarter valued at approximately $680,000. Finally, Foundry Partners LLC increased its position in The Finish Line by 5.0% in the third quarter. Foundry Partners LLC now owns 145,345 shares of the company’s stock valued at $3,355,000 after buying an additional 6,917 shares during the period.
Shares of The Finish Line, Inc. (NASDAQ:FINL) traded up 0.95% during mid-day trading on Monday, hitting $18.11. The stock had a trading volume of 367,487 shares. The company’s market cap is $734.54 million. The Finish Line, Inc. has a 1-year low of $16.55 and a 1-year high of $24.52. The firm’s 50 day moving average price is $17.73 and its 200 day moving average price is $21.33.
The Finish Line (NASDAQ:FINL) last posted its earnings results on Wednesday, December 21st. The company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.06. The Finish Line had a negative net margin of 0.25% and a positive return on equity of 11.57%. The company earned $371.70 million during the quarter, compared to analyst estimates of $411.61 million. During the same period in the previous year, the company earned ($0.49) EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts predict that The Finish Line, Inc. will post $1.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 13th. Stockholders of record on Friday, February 24th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Wednesday, February 22nd. This is a boost from The Finish Line’s previous quarterly dividend of $0.10. The Finish Line’s dividend payout ratio is currently -285.71%.
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Several research firms recently commented on FINL. Piper Jaffray Companies set a $19.00 target price on The Finish Line and gave the stock a “hold” rating in a research report on Sunday, December 18th. B. Riley reaffirmed a “buy” rating and set a $27.00 price target on shares of The Finish Line in a report on Friday, December 16th. Zacks Investment Research raised The Finish Line from a “sell” rating to a “hold” rating in a report on Thursday, December 22nd. Citigroup Inc. cut The Finish Line from a “buy” rating to a “neutral” rating in a report on Monday, December 19th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $19.00 price target (down from $23.00) on shares of The Finish Line in a report on Wednesday, December 28th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.64.
In other news, Director Glenn S. Lyon sold 75,000 shares of the stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $18.89, for a total transaction of $1,416,750.00. Following the sale, the director now owns 117,088 shares of the company’s stock, valued at $2,211,792.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.
About The Finish Line
Finish Line, Inc is a specialty retailer. The Company operates two retail divisions: the Finish Line and JackRabbit brands. Finish Line is a retailer of athletic shoes, apparel and accessories. The Company operates approximately 590 Finish Line stores, which average over 5,550 square feet, in approximately 40 United States’ states and Puerto Rico.
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