Park West Asset Management LLC raised its position in shares of Blackhawk Network Holdings Inc (NASDAQ:HAWK) by 19.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,789,728 shares of the credit services provider’s stock after purchasing an additional 289,728 shares during the period. Blackhawk Network accounts for about 2.9% of Park West Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Park West Asset Management LLC owned approximately 3.15% of Blackhawk Network worth $63,804,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of HAWK. Millennium Management LLC raised its stake in shares of Blackhawk Network by 1,722.5% during the 4th quarter. Millennium Management LLC now owns 646,573 shares of the credit services provider’s stock worth $23,050,000 after purchasing an additional 611,095 shares in the last quarter. ING Groep NV purchased a new stake in shares of Blackhawk Network during the 4th quarter worth about $13,436,000. Shell Asset Management Co. purchased a new stake in shares of Blackhawk Network during the 4th quarter worth about $12,439,000. Standard Life Aberdeen plc raised its stake in shares of Blackhawk Network by 73.2% during the 4th quarter. Standard Life Aberdeen plc now owns 701,260 shares of the credit services provider’s stock worth $25,017,000 after purchasing an additional 296,466 shares in the last quarter. Finally, Tensile Capital Management LLC raised its stake in shares of Blackhawk Network by 30.3% during the 4th quarter. Tensile Capital Management LLC now owns 1,108,754 shares of the credit services provider’s stock worth $39,527,000 after purchasing an additional 257,800 shares in the last quarter. 96.25% of the stock is owned by institutional investors.
Blackhawk Network Holdings Inc (HAWK) opened at $44.75 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $2,531.91, a PE ratio of -16.16, a PEG ratio of 4.59 and a beta of 0.72. Blackhawk Network Holdings Inc has a fifty-two week low of $32.60 and a fifty-two week high of $47.00.
Blackhawk Network (NASDAQ:HAWK) last issued its quarterly earnings data on Tuesday, February 27th. The credit services provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.04. The business had revenue of $423.18 million for the quarter, compared to analyst estimates of $384.70 million. Blackhawk Network had a negative return on equity of 18.94% and a negative net margin of 6.98%. analysts expect that Blackhawk Network Holdings Inc will post 0.56 earnings per share for the current year.
HAWK has been the subject of a number of recent research reports. Zacks Investment Research raised Blackhawk Network from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Wednesday, December 13th. First Analysis downgraded Blackhawk Network from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 23rd. Craig Hallum downgraded Blackhawk Network from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Citigroup downgraded Blackhawk Network from a “buy” rating to a “hold” rating and set a $45.25 price target for the company. in a research note on Monday, January 22nd. Finally, BidaskClub raised Blackhawk Network from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Thirteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $46.10.
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Blackhawk Network 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.
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