Wexford Capital LP Decreases Stock Position in The Honest Company, Inc. (NASDAQ:HNST)

Wexford Capital LP lowered its stake in The Honest Company, Inc. (NASDAQ:HNST - Free Report) by 71.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,991 shares of the company's stock after selling 108,547 shares during the quarter. Wexford Capital LP's holdings in Honest were worth $305,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Honest in the 4th quarter worth $26,000. New York State Teachers Retirement System purchased a new stake in shares of Honest during the 4th quarter valued at about $52,000. Utah Retirement Systems purchased a new stake in shares of Honest during the 4th quarter valued at about $86,000. Fox Run Management L.L.C. purchased a new stake in shares of Honest during the 4th quarter valued at about $89,000. Finally, Walleye Trading LLC purchased a new stake in shares of Honest during the 4th quarter valued at about $109,000. Hedge funds and other institutional investors own 45.54% of the company's stock.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group restated a "market perform" rating and set a $7.00 target price on shares of Honest in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.70.

Insider Activity at Honest

In related news, SVP Jonathan Mayle sold 37,481 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the transaction, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. This represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Winchell sold 20,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $4.98, for a total transaction of $99,600.00. Following the transaction, the insider now owns 431,844 shares in the company, valued at $2,150,583.12. The trade was a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

Honest Trading Down 0.9%

Shares of NASDAQ HNST opened at $5.46 on Tuesday. The firm's 50-day moving average price is $4.77 and its 200-day moving average price is $5.82. The stock has a market capitalization of $601.89 million, a price-to-earnings ratio of -136.50 and a beta of 2.43. The Honest Company, Inc. has a 12-month low of $2.40 and a 12-month high of $8.97.

Honest (NASDAQ:HNST - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $97.25 million for the quarter, compared to the consensus estimate of $92.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. On average, equities analysts predict that The Honest Company, Inc. will post -0.07 EPS for the current fiscal year.

Honest Company Profile

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.

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