Magnetar Financial LLC Acquires Shares of 92,528 Hasbro, Inc. $HAS

Key Points

• Magnetar Financial LLC has acquired 92,528 shares of Hasbro, Inc., valued at approximately $5,690,000, increasing its stake to 0.07% as reported in the latest SEC filing.
• Insider transactions saw CEO Christian P. Cocks and insider Timothy J. Kilpin selling shares, with Cocks reducing their position by 10.01% and Kilpin by 16.19%.
• Several brokerages have issued buy ratings for Hasbro, with price targets raised to as high as $92.00, reflecting increased investor confidence.

Magnetar Financial LLC bought a new position in shares of Hasbro, Inc. (NASDAQ:HAS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 92,528 shares of the company's stock, valued at approximately $5,690,000. Magnetar Financial LLC owned approximately 0.07% of Hasbro as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HAS. Sentry Investment Management LLC purchased a new position in Hasbro during the first quarter worth about $28,000. SBI Securities Co. Ltd. lifted its stake in Hasbro by 130.0% during the first quarter. SBI Securities Co. Ltd. now owns 476 shares of the company's stock worth $29,000 after purchasing an additional 269 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in Hasbro by 32.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 733 shares of the company's stock worth $41,000 after purchasing an additional 178 shares during the last quarter. Allworth Financial LP lifted its stake in Hasbro by 93.2% during the first quarter. Allworth Financial LP now owns 931 shares of the company's stock worth $56,000 after purchasing an additional 449 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its stake in Hasbro by 21.6% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 1,046 shares of the company's stock worth $64,000 after purchasing an additional 186 shares during the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hasbro

In related news, CEO Christian P. Cocks sold 27,800 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $78.92, for a total transaction of $2,193,976.00. Following the transaction, the chief executive officer owned 249,861 shares in the company, valued at $19,719,030.12. The trade was a 10.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy J. Kilpin sold 8,557 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $81.44, for a total value of $696,882.08. Following the transaction, the insider owned 44,301 shares in the company, valued at approximately $3,607,873.44. This represents a 16.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,359 shares of company stock worth $2,970,828 in the last 90 days. Company insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HAS shares. The Goldman Sachs Group raised Hasbro from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $66.00 to $85.00 in a research note on Monday, June 30th. Morgan Stanley lifted their price target on Hasbro from $83.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on Hasbro from $75.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Bank of America lifted their price target on Hasbro from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Citigroup lifted their price target on Hasbro from $79.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Hasbro has an average rating of "Moderate Buy" and a consensus target price of $86.42.

Hasbro Trading Down 0.8%

Shares of HAS traded down $0.67 during trading hours on Wednesday, hitting $79.08. The company had a trading volume of 789,108 shares, compared to its average volume of 2,009,824. The firm has a market cap of $11.09 billion, a P/E ratio of -19.48, a P/E/G ratio of 1.05 and a beta of 0.59. The stock's 50 day moving average price is $77.59 and its 200 day moving average price is $67.63. The company has a quick ratio of 1.32, a current ratio of 1.66 and a debt-to-equity ratio of 12.31. Hasbro, Inc. has a 52-week low of $49.00 and a 52-week high of $82.19.

Hasbro (NASDAQ:HAS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.52. Hasbro had a positive return on equity of 64.49% and a negative net margin of 13.37%.The company had revenue of $980.80 million for the quarter, compared to the consensus estimate of $891.82 million. During the same quarter in the previous year, the business earned $1.22 EPS. Hasbro's revenue was down 1.5% compared to the same quarter last year. On average, research analysts predict that Hasbro, Inc. will post 4.33 EPS for the current year.

Hasbro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, August 20th. Hasbro's payout ratio is currently -68.97%.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.