Harbor Advisors LLC Takes Position in Blackhawk Network Holdings, Inc. (HAWK)

Harbor Advisors LLC bought a new stake in Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) during the first quarter, Holdings Channel reports. The fund bought 5,000 shares of the credit services provider’s stock, valued at approximately $203,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Blackhawk Network Holdings by 71,649.0% in the first quarter. BlackRock Inc. now owns 3,416,688 shares of the credit services provider’s stock valued at $138,718,000 after buying an additional 3,411,926 shares during the last quarter. FIL Ltd acquired a new stake in Blackhawk Network Holdings during the first quarter valued at $20,092,000. Norges Bank acquired a new stake in Blackhawk Network Holdings during the fourth quarter valued at $18,577,000. Thompson Siegel & Walmsley LLC acquired a new stake in Blackhawk Network Holdings during the fourth quarter valued at $14,760,000. Finally, FMR LLC boosted its stake in Blackhawk Network Holdings by 5.0% in the fourth quarter. FMR LLC now owns 7,789,418 shares of the credit services provider’s stock valued at $293,466,000 after buying an additional 368,450 shares during the last quarter.

Institutional Ownership by Quarter for Blackhawk Network Holdings (NASDAQ:HAWK)

Blackhawk Network Holdings, Inc. (HAWK) traded down 3.17% during trading on Friday, hitting $41.20. 1,373,531 shares of the stock were exchanged. The stock has a 50 day moving average of $42.39 and a 200-day moving average of $38.86. Blackhawk Network Holdings, Inc. has a 52 week low of $28.88 and a 52 week high of $44.90. The stock’s market cap is $2.32 billion.

Blackhawk Network Holdings (NASDAQ:HAWK) last announced its quarterly earnings results on Wednesday, April 26th. The credit services provider reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07. The company had revenue of $407.20 million during the quarter, compared to the consensus estimate of $379.13 million. Blackhawk Network Holdings had a negative net margin of 0.27% and a positive return on equity of 8.36%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. Equities analysts expect that Blackhawk Network Holdings, Inc. will post $1.65 EPS for the current fiscal year.

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Several research analysts have recently issued reports on HAWK shares. Zacks Investment Research upgraded shares of Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a report on Thursday, March 16th. First Analysis upped their price target on shares of Blackhawk Network Holdings from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, March 23rd. Deutsche Bank AG upped their price target on shares of Blackhawk Network Holdings from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, April 28th. SunTrust Banks, Inc. started coverage on shares of Blackhawk Network Holdings in a report on Wednesday, March 15th. They set a “buy” rating and a $44.00 price target for the company. Finally, Credit Suisse Group downgraded shares of Blackhawk Network Holdings from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $37.00 to $36.00 in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.69.

In related news, Director Jeffrey H. Fox acquired 2,775 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was acquired at an average cost of $41.64 per share, for a total transaction of $115,551.00. Following the completion of the acquisition, the director now directly owns 2,775 shares of the company’s stock, valued at approximately $115,551. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert B. Henske acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average price of $41.57 per share, with a total value of $145,495.00. Following the completion of the acquisition, the director now directly owns 4,500 shares of the company’s stock, valued at $187,065. The disclosure for this purchase can be found here. Insiders have sold 77,153 shares of company stock valued at $3,198,121 over the last quarter. Company insiders own 3.80% of the company’s stock.

Blackhawk Network Holdings Company Profile

Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.

Want to see what other hedge funds are holding HAWK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackhawk Network Holdings, Inc. (NASDAQ:HAWK).

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