Proficio Capital Partners LLC Invests $346,000 in Hanesbrands Inc. (NYSE:HBI)

Proficio Capital Partners LLC purchased a new position in shares of Hanesbrands Inc. (NYSE:HBI) in the 4th quarter, Holdings Channel reports. The firm purchased 42,532 shares of the textile maker’s stock, valued at approximately $346,000.

Several other institutional investors also recently modified their holdings of the stock. Sanctuary Advisors LLC increased its holdings in shares of Hanesbrands by 2.2% during the fourth quarter. Sanctuary Advisors LLC now owns 58,714 shares of the textile maker’s stock worth $498,000 after buying an additional 1,277 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Hanesbrands by 39.7% during the fourth quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker’s stock worth $54,000 after buying an additional 1,895 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of Hanesbrands by 3.5% during the fourth quarter. Avior Wealth Management LLC now owns 56,700 shares of the textile maker’s stock worth $462,000 after buying an additional 1,900 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Hanesbrands by 2.3% during the fourth quarter. New York State Common Retirement Fund now owns 109,606 shares of the textile maker’s stock worth $892,000 after buying an additional 2,436 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Hanesbrands by 6.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 45,876 shares of the textile maker’s stock worth $373,000 after buying an additional 2,952 shares in the last quarter. 80.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HBI shares. Barclays boosted their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. UBS Group raised shares of Hanesbrands from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $7.00 price objective (down previously from $8.00) on shares of Hanesbrands in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hanesbrands currently has a consensus rating of “Hold” and an average target price of $7.10.

Hanesbrands Stock Performance

Shares of HBI opened at $5.86 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.68 and a debt-to-equity ratio of 64.28. The stock has a market capitalization of $2.07 billion, a P/E ratio of -6.36 and a beta of 1.75. The firm’s fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $7.48. Hanesbrands Inc. has a 12 month low of $4.40 and a 12 month high of $9.10.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, February 13th. The textile maker reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $888.47 million for the quarter, compared to analysts’ expectations of $899.30 million. Hanesbrands had a negative net margin of 8.06% and a positive return on equity of 108.01%. As a group, analysts predict that Hanesbrands Inc. will post 0.53 EPS for the current year.

Insider Transactions at Hanesbrands

In related news, Director Robert F. Moran acquired 74,850 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $6.01 per share, with a total value of $449,848.50. Following the transaction, the director now directly owns 216,373 shares of the company’s stock, valued at $1,300,401.73. This trade represents a 52.89 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Hanesbrands Company 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.