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

Manatuck Hill Partners LLC bought a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 145,120 shares of the company's stock, valued at approximately $1,006,000. Manatuck Hill Partners LLC owned about 0.14% of Honest as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Honest by 25.7% in the fourth quarter. Vanguard Group Inc. now owns 5,147,369 shares of the company's stock worth $35,671,000 after acquiring an additional 1,052,305 shares during the period. Renaissance Technologies LLC boosted its stake in Honest by 20.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,372,200 shares of the company's stock valued at $16,439,000 after acquiring an additional 398,603 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Honest by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,826,160 shares of the company's stock worth $12,658,000 after purchasing an additional 14,539 shares in the last quarter. Victory Capital Management Inc. grew 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 worth $10,716,000 after buying an additional 1,386,961 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Honest by 27.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,396,615 shares of the company's stock valued at $9,678,000 after buying an additional 299,186 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group restated a "market perform" rating and issued a $7.00 target price on shares of Honest in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.70.

Honest Price Performance

NASDAQ:HNST traded down $0.06 during mid-day trading on Wednesday, hitting $4.91. The company's stock had a trading volume of 1,476,464 shares, compared to its average volume of 2,181,044. The business's fifty day moving average is $4.76 and its two-hundred day moving average is $5.73. The stock has a market cap of $540.68 million, a price-to-earnings ratio of -123.63 and a beta of 2.43. The Honest Company, Inc. has a 1 year low of $2.40 and a 1 year high of $8.97.

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

Insider Activity

In other news, insider Stephen Winchell sold 20,000 shares of the business'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 completion of the sale, the insider now directly owns 431,844 shares in the company, valued at $2,150,583.12. The trade was a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Mayle sold 37,481 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.87, for a total transaction of $182,532.47. Following the transaction, the senior vice president now directly owns 307,740 shares in the company, valued at approximately $1,498,693.80. The trade was a 10.86 % 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 Company 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.