Hasbro, Inc. (NASDAQ:HAS) Sees Significant Increase in Short Interest

Key Points

• Short interest surged by 33.3% in March to 5,422,932 shares (about 3.9% of the stock), leaving a short-interest ratio of roughly 3.6 days.
• Multiple analysts raised price targets in February (many to the $110–$120 range), leaving a consensus rating of Moderate Buy and an average price target of $113.07.
• Company insiders have been selling significant stock — including the CEO who sold 196,411 shares — with insiders disposing of 413,342 shares (~$42.24M) in the last 90 days and owning about 0.85% of shares.

Hasbro, Inc. (NASDAQ:HAS - Get Free Report) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 5,422,932 shares, an increase of 33.3% from the February 26th total of 4,067,415 shares. Currently, 3.9% of the company's stock are sold short. Based on an average daily volume of 1,493,996 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HAS. The Goldman Sachs Group upped their price objective on shares of Hasbro from $88.00 to $114.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of Hasbro from $94.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. Monness Crespi & Hardt upped their price target on shares of Hasbro from $90.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. DA Davidson raised their price target on shares of Hasbro from $80.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, February 11th. Finally, BNP Paribas Exane assumed coverage on shares of Hasbro in a research note on Wednesday, February 25th. They set an "outperform" rating and a $118.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $113.07.

Insiders Place Their Bets

In related news, EVP Tarrant L. Sibley sold 15,148 shares of the company's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $104.98, for a total transaction of $1,590,237.04. Following the transaction, the executive vice president directly owned 50,174 shares of the company's stock, valued at $5,267,266.52. This represents a 23.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christian P. Cocks sold 196,411 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $100.33, for a total value of $19,705,915.63. Following the completion of the sale, the chief executive officer owned 303,310 shares of the company's stock, valued at approximately $30,431,092.30. This trade represents a 39.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 413,342 shares of company stock worth $42,241,679. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hasbro

Several hedge funds have recently added to or reduced their stakes in HAS. CYBER HORNET ETFs LLC purchased a new position in shares of Hasbro during the 2nd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Hasbro during the fourth quarter worth about $27,000. MUFG Securities EMEA plc acquired a new stake in Hasbro during the second quarter worth about $28,000. First Horizon Corp purchased a new position in Hasbro during the third quarter valued at approximately $29,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new position in Hasbro in the third quarter valued at approximately $34,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

Hasbro Stock Performance

Shares of Hasbro stock traded down $2.57 on Friday, reaching $88.59. 1,822,146 shares of the stock were exchanged, compared to its average volume of 1,536,285. The business has a 50 day moving average price of $95.03 and a two-hundred day moving average price of $84.65. The firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of -37.70 and a beta of 0.54. Hasbro has a twelve month low of $49.00 and a twelve month high of $106.98. The company has a quick ratio of 1.24, a current ratio of 1.38 and a debt-to-equity ratio of 4.89.

Hasbro (NASDAQ:HAS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.52. Hasbro had a negative net margin of 6.86% and a positive return on equity of 127.21%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $0.46 EPS. Hasbro's quarterly revenue was up 31.3% on a year-over-year basis. Analysts anticipate that Hasbro will post 4.33 earnings per share for the current fiscal year.

Hasbro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, February 18th. Hasbro's dividend payout ratio (DPR) is -119.15%.

About Hasbro

Hasbro, Inc is a global play and entertainment company, known for designing, manufacturing and marketing a diverse portfolio of toys, games and consumer products. Founded in 1923 as Hassenfeld Brothers and headquartered in Pawtucket, Rhode Island, the company has grown into one of the foremost names in the toy industry, with a presence in retail, digital and entertainment channels worldwide.

The company's brand portfolio features iconic properties such as Monopoly, Play-Doh, Nerf, My Little Pony and Transformers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.