Hibbett Sees Unusually High Options Volume (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 2,754 call options on the company. This is an increase of 640% compared to the typical daily volume of 372 call options.

Hedge Funds Weigh In On Hibbett

Institutional investors have recently modified their holdings of the business. Stonegate Investment Group LLC purchased a new stake in shares of Hibbett during the 1st quarter worth $203,000. Fluent Financial LLC purchased a new stake in shares of Hibbett during the 1st quarter worth $305,000. Allspring Global Investments Holdings LLC lifted its position in shares of Hibbett by 9.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,870 shares of the company’s stock worth $451,000 after purchasing an additional 486 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of Hibbett by 3.4% during the 1st quarter. AdvisorNet Financial Inc now owns 17,982 shares of the company’s stock worth $1,381,000 after purchasing an additional 593 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Hibbett by 70.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 6,935 shares of the company’s stock worth $533,000 after purchasing an additional 2,862 shares during the last quarter. Institutional investors and hedge funds own 94.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Monness Crespi & Hardt reissued a “neutral” rating on shares of Hibbett in a research note on Tuesday. Benchmark reissued a “hold” rating on shares of Hibbett in a research note on Wednesday. B. Riley raised their target price on shares of Hibbett from $70.00 to $87.50 and gave the stock a “neutral” rating in a research note on Wednesday. Telsey Advisory Group raised their price target on shares of Hibbett from $74.00 to $87.50 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Williams Trading restated a “hold” rating and set a $73.00 price target on shares of Hibbett in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.29.

Hibbett Stock Performance

Hibbett stock opened at $86.51 on Thursday. Hibbett has a fifty-two week low of $34.86 and a fifty-two week high of $86.70. The firm has a 50 day moving average price of $74.69 and a 200 day moving average price of $65.78. The company has a market capitalization of $1.02 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.75.

Hibbett (NASDAQ:HIBB) last posted its earnings results on Friday, March 15th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.01. The firm had revenue of $466.60 million during the quarter, compared to the consensus estimate of $477.42 million. Hibbett had a net margin of 5.97% and a return on equity of 25.72%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.91 EPS. As a group, equities research analysts forecast that Hibbett will post 8.21 earnings per share for the current year.

Hibbett Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Hibbett’s dividend payout ratio (DPR) is 12.21%.

Hibbett Company Profile

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories. The company operates Hibbett stores, City Gear stores, and Sports Additions athletic shoe stores.