Hanesbrands Inc. (NYSE:HBI) Stock Position Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in Hanesbrands Inc. (NYSE:HBI) by 63.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 784,200 shares of the textile maker’s stock after selling 1,354,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Hanesbrands were worth $3,866,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Concord Wealth Partners lifted its stake in Hanesbrands by 220.3% in the first quarter. Concord Wealth Partners now owns 5,260 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 3,618 shares during the last quarter. Tradewinds Capital Management LLC bought a new position in shares of Hanesbrands during the 1st quarter valued at $35,000. Rothschild Investment LLC acquired a new stake in shares of Hanesbrands in the 2nd quarter valued at $39,000. Hollencrest Capital Management bought a new stake in Hanesbrands in the first quarter worth $41,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Hanesbrands during the first quarter worth $44,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

Hanesbrands Stock Performance

HBI opened at $7.28 on Friday. Hanesbrands Inc. has a 12-month low of $3.55 and a 12-month high of $7.31. The firm has a market capitalization of $2.56 billion, a P/E ratio of -121.33 and a beta of 1.57. The stock’s 50 day moving average price is $6.24 and its two-hundred day moving average price is $5.43. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 50.06.

Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. Hanesbrands had a negative net margin of 6.02% and a positive return on equity of 33.23%. The business had revenue of $995.40 million for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company posted ($0.01) earnings per share. Hanesbrands’s quarterly revenue was down 3.8% on a year-over-year basis. On average, equities analysts forecast that Hanesbrands Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Hanesbrands from $4.50 to $6.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. UBS Group boosted their target price on Hanesbrands from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Wedbush reiterated a “neutral” rating and set a $5.00 price target on shares of Hanesbrands in a report on Thursday, June 6th. Finally, Barclays boosted their price objective on shares of Hanesbrands from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hanesbrands has an average rating of “Hold” and a consensus target price of $5.80.

Hanesbrands Profile

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.