319,346 Hasbro, Inc. $HAS Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Hasbro stake by 56.4%, selling 319,346 shares and retaining 247,069 shares worth approximately $21.7 million. Institutional investors collectively own 91.83% of the company.
• Hasbro insiders sold 50,472 shares worth roughly $4.74 million during the latest quarter, including sales by an executive and a director to cover tax obligations and reduce their holdings.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $110.64. Hasbro also exceeded quarterly earnings and revenue expectations, reporting $1.28 in EPS and $1.14 billion in revenue.

Assenagon Asset Management S.A. trimmed its holdings in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) by 56.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,069 shares of the company's stock after selling 319,346 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of Hasbro worth $21,663,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Hasbro during the 2nd quarter worth approximately $2,204,689,000. Bank of America Corp DE purchased a new position in Hasbro in the 2nd quarter worth approximately $289,258,000. Amundi lifted its position in Hasbro by 21.1% in the first quarter. Amundi now owns 1,699,565 shares of the company's stock valued at $159,079,000 after purchasing an additional 296,277 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Hasbro in the second quarter valued at approximately $130,731,000. Finally, Epoch Investment Partners Inc. lifted its position in Hasbro by 1.0% in the first quarter. Epoch Investment Partners Inc. now owns 1,174,077 shares of the company's stock valued at $109,894,000 after purchasing an additional 12,182 shares during the last quarter. 91.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Hasbro news, insider Timothy J. Kilpin sold 20,000 shares of Hasbro stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $93.12, for a total transaction of $1,862,400.00. Following the sale, the insider directly owned 54,229 shares of the company's stock, valued at approximately $5,049,804.48. The trade was a 26.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elizabeth Hamren sold 1,975 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $92.84, for a total value of $183,359.00. Following the transaction, the director owned 9,896 shares in the company, valued at $918,744.64. This trade represents a 16.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 50,472 shares of company stock valued at $4,736,533 over the last quarter. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Hasbro from $117.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, September 21st. Jefferies Financial Group decreased their target price on shares of Hasbro from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Argus upped their price target on shares of Hasbro from $90.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. dropped their price target on shares of Hasbro from $125.00 to $111.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company increased their price target on shares of Hasbro from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Thursday, August 20th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.64.

Hasbro Price Performance

Shares of NASDAQ HAS opened at $98.76 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.46 and a debt-to-equity ratio of 4.16. Hasbro, Inc. has a 12 month low of $69.50 and a 12 month high of $106.98. The firm has a market capitalization of $13.93 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.71 and a beta of 0.45. The firm has a fifty day simple moving average of $92.34 and a two-hundred day simple moving average of $89.86.

Hasbro (NASDAQ:HAS - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.07 billion. Hasbro had a net margin of 15.97% and a return on equity of 141.11%. The company's quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the company posted $1.30 EPS. Equities analysts expect that Hasbro, Inc. will post 6.14 earnings per share for the current year.

Hasbro Company Profile

Hasbro, Inc is a global toy and games company that develops, licenses and markets branded entertainment products. Its portfolio includes toys, board games, trading cards, role-playing games and digital gaming experiences sold under brands such as Monopoly, Play-Doh, Nerf, Transformers, My Little Pony, Dungeons & Dragons and Magic: The Gathering.

The company serves consumers through retailers, e-commerce platforms and licensing partners in the United States and international markets.

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