GAMMA Investing LLC Boosts Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

GAMMA Investing LLC lifted its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 8,368.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,005 shares of the company's stock after purchasing an additional 41,509 shares during the quarter. GAMMA Investing LLC owned 0.14% of Boot Barn worth $4,513,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BOOT. Blue Trust Inc. boosted its holdings in Boot Barn by 1,430.0% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the company's stock worth $26,000 after buying an additional 143 shares in the last quarter. Signaturefd LLC raised its position in shares of Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 111 shares during the period. Versant Capital Management Inc boosted its stake 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 worth $34,000 after acquiring an additional 215 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Boot Barn by 45.2% during the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock worth $55,000 after acquiring an additional 113 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Boot Barn by 212.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 749 shares of the company's stock valued at $115,000 after acquiring an additional 509 shares during the period.

Analysts Set New Price Targets

BOOT has been the subject of a number of analyst reports. Piper Sandler upped their price target on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. KeyCorp reduced their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. Bank of America increased their target price on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Stephens initiated coverage on shares of Boot Barn in a research note on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 price target on the stock. Finally, Citigroup upped their price objective on shares of Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.67.

Boot Barn Trading Down 0.1%

BOOT traded down $0.13 on Thursday, hitting $162.14. 89,523 shares of the company's stock were exchanged, compared to its average volume of 819,970. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $176.64. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 28.95, a P/E/G ratio of 1.17 and a beta of 1.73. The firm has a 50-day moving average price of $127.15 and a 200-day moving average price of $133.65.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business had revenue of $453.75 million during the quarter, compared to analysts' expectations of $458.56 million. During the same period in the prior year, the business posted $0.96 earnings per share. The business's quarterly revenue was up 16.8% on a year-over-year basis. On average, equities 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 permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the transaction, the insider now directly owns 14,593 shares of the company's stock, valued at $2,344,657.31. The trade was a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the transaction, the insider now owns 2,112 shares in the company, valued at $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Boot Barn 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.