8,295 Shares in Boot Barn Holdings, Inc. (NYSE:BOOT) Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired a new stake in Boot Barn Holdings, buying 8,295 shares valued at approximately $891,000 in the 1st quarter.
• Multiple hedge funds, including Vanguard Group Inc. and FMR LLC, significantly increased their positions in Boot Barn during the 4th quarter.
• Boot Barn's stock is currently rated as a "Moderate Buy" with a target price consensus of $176.08 following varied analysis from several financial institutions.

Y Intercept Hong Kong Ltd bought a new position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,295 shares of the company's stock, valued at approximately $891,000.

Several other hedge funds have also recently modified their holdings of the stock. Bank of Montreal Can lifted its holdings in shares of Boot Barn by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock worth $901,000 after buying an additional 82 shares in the last quarter. Cetera Investment Advisers increased its position in Boot Barn by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock worth $1,242,000 after purchasing an additional 83 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Boot Barn by 7.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock worth $208,000 after purchasing an additional 97 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Boot Barn by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock worth $470,000 after purchasing an additional 98 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Boot Barn by 5.7% in the first quarter. Park Avenue Securities LLC now owns 1,963 shares of the company's stock worth $211,000 after purchasing an additional 105 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Boot Barn from $207.00 to $247.00 and gave the stock an "overweight" rating in a research report on Monday. Cowen restated a "buy" rating on shares of Boot Barn in a research report on Monday. Citigroup boosted their price target 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. Finally, Bank of America boosted their price target on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $179.23.

Insiders Place Their Bets

In other news, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction on 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 sale, the insider directly owned 2,112 shares of the company's stock, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the sale, the insider directly owned 14,593 shares of the company's stock, valued at $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Boot Barn Stock Performance

BOOT stock traded down $2.15 during mid-day trading on Tuesday, reaching $176.51. 171,622 shares of the stock traded hands, compared to its average volume of 907,480. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $179.77. The stock has a market capitalization of $5.40 billion, a PE ratio of 30.05, a PEG ratio of 2.05 and a beta of 1.69. The business has a 50-day moving average price of $163.52 and a two-hundred day moving average price of $136.97.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). The firm had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The company's revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. On average, equities analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

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

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.