Manatuck Hill Partners LLC Invests $1.01 Million in The Honest Company, Inc. (NASDAQ:HNST)

Manatuck Hill Partners LLC purchased a new position in The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 145,120 shares of the company's stock, valued at approximately $1,006,000. Manatuck Hill Partners LLC owned approximately 0.14% of Honest as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Honest by 25.7% in the 4th quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after purchasing an additional 1,052,305 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Honest by 20.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock valued at $16,439,000 after purchasing an additional 398,603 shares during the last quarter. Geode Capital Management LLC boosted its stake in Honest by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,826,160 shares of the company's stock valued at $12,658,000 after purchasing an additional 14,539 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Honest by 869.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,546,391 shares of the company's stock valued at $10,716,000 after purchasing an additional 1,386,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Honest by 27.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,396,615 shares of the company's stock valued at $9,678,000 after purchasing an additional 299,186 shares during the last quarter. 45.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated a "market perform" rating and set a $7.00 target price on shares of Honest in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Honest has an average rating of "Moderate Buy" and a consensus target price of $7.70.

Honest Stock Performance

Shares of Honest stock opened at $4.83 on Friday. The Honest Company, Inc. has a one year low of $2.40 and a one year high of $8.97. The stock's fifty day moving average is $4.79 and its 200 day moving average is $5.69. The stock has a market cap of $532.41 million, a P/E ratio of -120.75 and a beta of 2.44.

Honest (NASDAQ:HNST - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The company had revenue of $99.84 million for the quarter, compared to analysts' expectations of $96.46 million. Honest had a negative return on equity of 3.26% and a negative net margin of 1.13%. Analysts predict that The Honest Company, Inc. will post -0.07 EPS for the current year.

Insider Buying and Selling at Honest

In other news, SVP Jonathan Mayle sold 37,481 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $4.87, for a total transaction of $182,532.47. Following the sale, the senior vice president now directly owns 307,740 shares of the company's stock, valued at $1,498,693.80. This represents a 10.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Winchell sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $4.98, for a total value of $99,600.00. Following the sale, the insider now directly owns 431,844 shares in the company, valued at $2,150,583.12. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.60% of the company's stock.

Honest 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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