16,800 Shares in Boot Barn Holdings, Inc. (NYSE:BOOT) Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. purchased a new position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,800 shares of the company's stock, valued at approximately $1,805,000. Hussman Strategic Advisors Inc. owned about 0.05% of Boot Barn at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its stake in shares of Boot Barn by 30.8% in the 1st quarter. Jennison Associates LLC now owns 445,449 shares of the company's stock valued at $47,855,000 after purchasing an additional 104,899 shares during the period. Verdence Capital Advisors LLC bought a new stake in Boot Barn during the 1st quarter worth approximately $236,000. Whittier Trust Co. of Nevada Inc. grew its position in Boot Barn by 5.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 50,089 shares of the company's stock worth $5,381,000 after acquiring an additional 2,550 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Boot Barn by 1.9% in the 1st quarter. Whittier Trust Co. now owns 99,925 shares of the company's stock valued at $10,735,000 after buying an additional 1,909 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in shares of Boot Barn by 51.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 465,787 shares of the company's stock valued at $50,039,000 after buying an additional 158,195 shares during the period.

Insider Transactions at Boot Barn

In other news, insider Michael A. Love sold 4,154 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the transaction, the insider owned 2,112 shares in the company, valued at approximately $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the transaction, the insider owned 14,593 shares in the company, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BOOT has been the topic of several recent research reports. KeyCorp dropped their price target 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. Citigroup lifted their price target on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, May 16th. UBS Group boosted their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Bank of America lifted their price target on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.67.

Boot Barn Price Performance

NYSE:BOOT traded up $1.69 during trading hours on Friday, hitting $170.80. The stock had a trading volume of 500,589 shares, compared to its average volume of 811,218. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $177.10. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 2.00 and a beta of 1.69. The company has a 50 day simple moving average of $160.21 and a two-hundred day simple moving average of $136.45.

Boot Barn (NYSE:BOOT - Get Free Report) last issued 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 business had revenue of $453.75 million during the quarter, compared to analysts' expectations of $458.56 million. During the same quarter in the previous year, the business earned $0.96 EPS. Boot Barn's revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn announced that its Board of Directors has approved a share buyback plan on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

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.