Hibbett Sports Target of Unusually High Options Trading (NASDAQ:HIBB)

Share on StockTwits

Hibbett Sports, Inc. (NASDAQ:HIBB) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 876 call options on the stock. This is an increase of approximately 767% compared to the typical volume of 101 call options.

HIBB has been the subject of several recent research reports. Bank of America raised their target price on shares of Hibbett Sports from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Monday, May 27th. Robert W. Baird lifted their price objective on shares of Hibbett Sports to $26.00 and gave the company a “neutral” rating in a report on Friday, May 24th. BidaskClub raised shares of Hibbett Sports from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Zacks Investment Research cut shares of Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $21.00 price objective for the company. in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.65.

In related news, CEO Jeffry O. Rosenthal sold 30,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $25.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now owns 65,097 shares of the company’s stock, valued at $1,627,425. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Hibbett Sports by 62.4% during the fourth quarter. Geode Capital Management LLC now owns 316,699 shares of the company’s stock worth $4,527,000 after acquiring an additional 121,688 shares during the period. Bank of America Corp DE raised its holdings in shares of Hibbett Sports by 92.7% during the fourth quarter. Bank of America Corp DE now owns 87,442 shares of the company’s stock worth $1,250,000 after purchasing an additional 42,061 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Hibbett Sports by 407.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,583 shares of the company’s stock worth $108,000 after purchasing an additional 6,090 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Hibbett Sports by 235.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 17,078 shares of the company’s stock worth $244,000 after purchasing an additional 11,982 shares during the last quarter. Finally, Norges Bank purchased a new position in Hibbett Sports in the fourth quarter valued at $582,000.

Shares of NASDAQ HIBB traded up $0.01 during trading on Tuesday, hitting $16.39. The company had a trading volume of 18,687 shares, compared to its average volume of 662,293. The firm’s fifty day simple moving average is $18.43. Hibbett Sports has a fifty-two week low of $13.08 and a fifty-two week high of $29.60. The firm has a market capitalization of $305.75 million, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.20 and a beta of 0.38. The company has a quick ratio of 0.62, a current ratio of 1.74 and a debt-to-equity ratio of 0.53.

Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Friday, May 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.32. Hibbett Sports had a net margin of 3.19% and a return on equity of 12.28%. The business had revenue of $343.30 million for the quarter, compared to analyst estimates of $328.16 million. During the same quarter last year, the business earned $1.12 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. Sell-side analysts predict that Hibbett Sports will post 2.07 EPS for the current year.

About Hibbett Sports

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

Further Reading: What is the return on assets (ROA) ratio?

Receive News & Ratings for Hibbett Sports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hibbett Sports and related companies with MarketBeat.com's FREE daily email newsletter.