1492 Capital Management LLC Invests $588,000 in Boot Barn Holdings, Inc. (NYSE:BOOT)

1492 Capital Management LLC acquired a new position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,475 shares of the company's stock, valued at approximately $588,000.

Several other institutional investors have also recently made changes to their positions in the business. Signaturefd LLC lifted its position in shares of Boot Barn by 201.8% during the 4th quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after buying an additional 111 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Boot Barn during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC lifted its position in shares of Boot Barn by 263.6% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after buying an additional 203 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Boot Barn by 210.8% during the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after buying an additional 215 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Boot Barn by 54.5% during the 4th quarter. Huntington National Bank now owns 794 shares of the company's stock valued at $121,000 after buying an additional 280 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target on the stock in a report on Wednesday, April 23rd. KeyCorp increased their price objective on shares of Boot Barn from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Stephens initiated coverage on shares of Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective for the company. Finally, Bank of America increased their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $176.08.

Insider Buying and Selling at Boot Barn

In related news, insider Laurie Marie Grijalva sold 2,438 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the sale, the insider directly owned 14,593 shares in the company, valued at $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael A. Love sold 4,154 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the sale, the insider owned 2,112 shares of the company's stock, valued at approximately $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Boot Barn Stock Performance

Shares of BOOT traded up $6.60 during mid-day trading on Friday, hitting $174.03. 530,786 shares of the stock were exchanged, compared to its average volume of 634,713. The company has a market cap of $5.32 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 2.05 and a beta of 1.69. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $178.92. The firm has a 50-day moving average of $163.17 and a two-hundred day moving average of $136.97.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $453.75 million for the quarter, compared to analysts' expectations of $458.56 million. Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The firm's revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. On average, sell-side analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.