GAMMA Investing LLC Acquires 41,509 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after buying an additional 111 shares during the period. Blue Trust Inc. lifted its holdings in shares of Boot Barn by 1,430.0% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the company's stock valued at $26,000 after purchasing an additional 143 shares during the last quarter. Versant Capital Management Inc raised its position in Boot Barn by 210.8% during the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after buying an additional 215 shares during the period. Assetmark Inc. raised its position in Boot Barn by 45.2% during the fourth quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after buying an additional 113 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Boot Barn by 212.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 749 shares of the company's stock worth $115,000 after purchasing an additional 509 shares during the last quarter.

Boot Barn Trading Down 3.7%

NYSE:BOOT traded down $6.08 during mid-day trading on Friday, hitting $157.07. 660,117 shares of the company's stock traded hands, compared to its average volume of 822,755. The firm has a 50 day moving average of $129.75 and a two-hundred day moving average of $133.90. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.17 and a beta of 1.73.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its 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 net margin of 9.36% and a return on equity of 17.11%. The business had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same quarter in the previous year, the company earned $0.96 EPS. Boot Barn's revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn declared that its Board of Directors has initiated a stock buyback plan 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 plans are generally an indication that the company's board believes its stock is undervalued.

Insider Transactions at Boot Barn

In other news, insider Michael A. Love sold 4,154 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 2,112 shares of the company's stock, valued at approximately $328,078.08. This represents a 66.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction that occurred 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 now directly owns 14,593 shares of the company's stock, valued at approximately $2,344,657.31. The trade was 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 insiders.

Analyst Ratings Changes

BOOT has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Boot Barn from $196.00 to $207.00 and gave the stock 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 objective on the stock in a report on Wednesday, April 23rd. Robert W. Baird increased their price objective on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Stephens initiated coverage on Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective on the stock. Finally, Citigroup increased their price objective on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.