Short Interest in Hanesbrands Inc. (NYSE:HBI) Decreases By 15.5%

Hanesbrands Inc. (NYSE:HBI - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 26,710,000 shares, a decrease of 15.5% from the March 15th total of 31,610,000 shares. Approximately 7.7% of the company's stock are sold short. Based on an average daily volume of 7,690,000 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analysts Forecast Growth

Several research firms have commented on HBI. Stifel Nicolaus cut their price target on Hanesbrands from $7.00 to $5.00 and set a "hold" rating for the company in a report on Thursday, April 10th. UBS Group raised their price target on Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a report on Wednesday.

Insider Transactions at Hanesbrands

In other Hanesbrands news, Director Robert F. Moran purchased 74,850 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the acquisition, the director now directly owns 216,373 shares in the company, valued at $1,300,401.73. This represents a 52.89 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hanesbrands

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBI. Sanctuary Advisors LLC boosted its stake in shares of Hanesbrands by 2.2% in the 4th quarter. Sanctuary Advisors LLC now owns 58,714 shares of the textile maker's stock valued at $498,000 after purchasing an additional 1,277 shares in the last quarter. GAMMA Investing LLC boosted its position in Hanesbrands by 39.7% in the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock valued at $54,000 after buying an additional 1,895 shares in the last quarter. Avior Wealth Management LLC boosted its position in Hanesbrands by 3.5% in the fourth quarter. Avior Wealth Management LLC now owns 56,700 shares of the textile maker's stock valued at $462,000 after buying an additional 1,900 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Hanesbrands by 4.3% during the fourth quarter. NewEdge Advisors LLC now owns 46,806 shares of the textile maker's stock worth $381,000 after buying an additional 1,944 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Hanesbrands by 5.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 36,964 shares of the textile maker's stock valued at $301,000 after acquiring an additional 1,973 shares during the last quarter. 80.31% of the stock is currently owned by institutional investors.

Hanesbrands Price Performance

Shares of HBI stock remained flat at $4.82 on Friday. 3,126,995 shares of the stock were exchanged, compared to its average volume of 7,074,329. Hanesbrands has a 12 month low of $4.02 and a 12 month high of $9.10. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -5.24 and a beta of 1.55. The stock's 50 day moving average price is $5.43 and its 200-day moving average price is $7.08. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28.

Hanesbrands (NYSE:HBI - Get Free Report) last announced its earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $888.47 million during the quarter, compared to the consensus estimate of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. On average, sell-side analysts forecast that Hanesbrands will post 0.53 earnings per share for the current fiscal year.

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.