Deerfield Management Company L.P. Series C Sells 72,619 Shares of Hanesbrands Inc. (NYSE:HBI)

Deerfield Management Company L.P. Series C lowered its stake in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) by 87.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,619 shares of the textile maker's stock after selling 72,619 shares during the period. Deerfield Management Company L.P. Series C's holdings in Hanesbrands were worth $86,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HBI. GeoWealth Management LLC increased its holdings in shares of Hanesbrands by 2,278.8% in the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock worth $28,000 after acquiring an additional 3,327 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Hanesbrands by 122.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock valued at $40,000 after buying an additional 2,712 shares during the period. Transce3nd LLC acquired a new position in Hanesbrands during the fourth quarter worth about $45,000. WFA Asset Management Corp acquired a new position in shares of Hanesbrands in the 4th quarter worth approximately $46,000. Finally, GAMMA Investing LLC raised its holdings in shares of Hanesbrands by 39.7% in the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock worth $54,000 after purchasing an additional 1,895 shares in the last quarter. Hedge funds and other institutional investors own 80.31% of the company's stock.

Insiders Place Their Bets

In other Hanesbrands news, Director Robert F. Moran purchased 74,850 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $6.01 per share, with a total value of $449,848.50. Following the completion of the purchase, the director now owns 216,373 shares of the company's stock, valued at approximately $1,300,401.73. The trade was a 52.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Hanesbrands Stock Up 0.8%

Shares of NYSE:HBI traded up $0.04 during trading on Tuesday, hitting $5.36. 2,882,627 shares of the company's stock traded hands, compared to its average volume of 7,109,404. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -5.83 and a beta of 1.50. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. Hanesbrands Inc. has a 52 week low of $4.02 and a 52 week high of $9.10. The company has a 50-day moving average price of $5.15 and a 200-day moving average price of $6.90.

Hanesbrands (NYSE:HBI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The firm had revenue of $760.15 million for the quarter, compared to analyst estimates of $757.42 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. The company's revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) EPS. As a group, research analysts forecast that Hanesbrands Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HBI shares. Stifel Nicolaus reduced their target price on Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Barclays set a $5.00 target price on Hanesbrands and gave the stock a "cautious" rating in a research report on Monday, April 28th. UBS Group lifted their price target on shares of Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their target price on shares of Hanesbrands from $5.00 to $3.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Hanesbrands presently has an average rating of "Hold" and a consensus price target of $5.20.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.