Bryce Point Capital LLC Takes $988,000 Position in Hanesbrands Inc. (NYSE:HBI)

Key Points

• Bryce Point Capital LLC has acquired a new position in Hanesbrands Inc., purchasing 162,131 shares valued at approximately $988,000, making it the 12th largest holding in their investment portfolio.
• Hanesbrands reported a positive quarterly earnings result, with earnings per share of $0.07, exceeding analysts' expectations and reflecting a year-over-year revenue increase of 2.1%.
• Hedge funds own over 80% of Hanesbrands' stock, indicating significant institutional interest in the company, with notable increases in holdings from firms such as Hsbc Holdings PLC and Trexquant Investment LP during recent quarters.

Bryce Point Capital LLC bought a new position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 162,131 shares of the textile maker's stock, valued at approximately $988,000. Hanesbrands comprises 0.8% of Bryce Point Capital LLC's investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in HBI. HighTower Advisors LLC lifted its stake in Hanesbrands by 23.2% during the fourth quarter. HighTower Advisors LLC now owns 39,650 shares of the textile maker's stock worth $323,000 after purchasing an additional 7,466 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Hanesbrands in the fourth quarter valued at approximately $331,000. Sei Investments Co. lifted its stake in Hanesbrands by 3.3% in the fourth quarter. Sei Investments Co. now owns 371,649 shares of the textile maker's stock valued at $3,025,000 after buying an additional 11,737 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Hanesbrands in the fourth quarter valued at approximately $580,000. Finally, LPL Financial LLC raised its stake in shares of Hanesbrands by 12.3% during the fourth quarter. LPL Financial LLC now owns 454,132 shares of the textile maker's stock worth $3,697,000 after purchasing an additional 49,895 shares during the last quarter. Hedge funds and other institutional investors own 80.31% of the company's stock.

Wall Street Analyst Weigh In

HBI has been the topic of a number of recent analyst reports. Barclays set a $6.00 price objective on Hanesbrands and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Wall Street Zen lowered Hanesbrands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Stifel Nicolaus dropped their price objective on Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company upped their price objective on Hanesbrands from $3.00 to $4.00 and gave the stock an "underweight" rating in a report on Wednesday, May 14th. Finally, UBS Group upped their price objective on Hanesbrands from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $5.75.

Hanesbrands Price Performance

Shares of HBI traded down $0.02 during trading hours on Thursday, reaching $4.10. 3,713,519 shares of the company traded hands, compared to its average volume of 6,265,466. The company has a quick ratio of 0.67, a current ratio of 1.55 and a debt-to-equity ratio of 53.45. The stock has a market capitalization of $1.45 billion, a PE ratio of -4.87 and a beta of 1.47. Hanesbrands Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $9.10. The stock has a fifty day simple moving average of $4.68 and a 200 day simple moving average of $5.57.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.04. Hanesbrands had a positive return on equity of 262.15% and a negative net margin of 8.12%. The business had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. During the same quarter last year, the company earned ($0.02) earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.