Emerald Mutual Fund Advisers Trust Buys 18,657 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Emerald Mutual Fund Advisers Trust lifted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 27.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,593 shares of the company's stock after purchasing an additional 18,657 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.29% of Boot Barn worth $9,410,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 111 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Boot Barn in the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC boosted its position in shares of Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after purchasing an additional 203 shares in the last quarter. Versant Capital Management Inc lifted its position in Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after acquiring an additional 215 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Boot Barn by 45.2% during the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after purchasing an additional 113 shares during the last quarter.

Insiders Place Their Bets

In related news, 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 transaction, the insider directly owned 2,112 shares of the company's stock, valued at approximately $328,078.08. This trade represents a 66.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the insider directly owned 14,593 shares in the company, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Boot Barn Stock Performance

Shares of Boot Barn stock opened at $171.00 on Friday. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $177.10. The stock's fifty day moving average is $154.84 and its 200 day moving average is $136.04. The stock has a market cap of $5.23 billion, a P/E ratio of 29.18, a P/E/G ratio of 2.04 and a beta of 1.69.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The company had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. During the same period in the prior year, the business posted $0.96 earnings per share. Boot Barn's revenue for the quarter was up 16.8% compared to the same quarter last year. 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 buyback program on Wednesday, May 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on BOOT. Craig Hallum upgraded Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 target price on the stock in a research note on Wednesday, April 23rd. Citigroup increased their target price on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Stephens began coverage on Boot Barn in a research note on Wednesday, April 9th. They set an "overweight" rating and a $100.00 target price on the stock. UBS Group increased their target price on Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, KeyCorp cut their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $173.67.

Boot Barn Company Profile

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.

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