Deerfield Management Company L.P. Series C Grows Stock Position in The Hain Celestial Group, Inc. (NASDAQ:HAIN)

Deerfield Management Company L.P. Series C lifted its stake in shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) by 391.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 124,589 shares of the company’s stock after purchasing an additional 99,246 shares during the quarter. Deerfield Management Company L.P. Series C owned 0.14% of The Hain Celestial Group worth $861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invenomic Capital Management LP bought a new stake in shares of The Hain Celestial Group during the 1st quarter worth $11,294,000. Norges Bank purchased a new stake in shares of The Hain Celestial Group in the 4th quarter worth about $7,199,000. Federated Hermes Inc. grew its holdings in shares of The Hain Celestial Group by 224.9% during the 2nd quarter. Federated Hermes Inc. now owns 860,471 shares of the company’s stock worth $5,946,000 after acquiring an additional 595,649 shares during the period. AQR Capital Management LLC bought a new position in shares of The Hain Celestial Group in the 2nd quarter worth about $3,942,000. Finally, Blair William & Co. IL boosted its stake in The Hain Celestial Group by 418.3% during the first quarter. Blair William & Co. IL now owns 366,948 shares of the company’s stock worth $2,884,000 after acquiring an additional 296,150 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Hain Celestial Group

In related news, insider Chad D. Marquardt purchased 5,300 shares of The Hain Celestial Group stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $8.32 per share, with a total value of $44,096.00. Following the transaction, the insider now owns 15,300 shares in the company, valued at approximately $127,296. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

The Hain Celestial Group Stock Performance

Shares of The Hain Celestial Group stock opened at $8.26 on Friday. The company has a market capitalization of $742.11 million, a PE ratio of -8.10 and a beta of 0.75. The Hain Celestial Group, Inc. has a 52 week low of $5.68 and a 52 week high of $12.49. The company has a quick ratio of 1.01, a current ratio of 1.98 and a debt-to-equity ratio of 0.78. The stock’s fifty day moving average is $7.54 and its two-hundred day moving average is $7.29.

The Hain Celestial Group (NASDAQ:HAIN) last issued its earnings results on Tuesday, August 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $419.00 million for the quarter, compared to the consensus estimate of $417.99 million. The Hain Celestial Group had a negative net margin of 4.32% and a positive return on equity of 3.10%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. As a group, analysts expect that The Hain Celestial Group, Inc. will post 0.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HAIN. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 target price on shares of The Hain Celestial Group in a report on Thursday, September 19th. Barclays lifted their target price on The Hain Celestial Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Stifel Nicolaus lifted their price objective on The Hain Celestial Group from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, DA Davidson reiterated a “neutral” rating and set a $8.00 target price on shares of The Hain Celestial Group in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.88.

The Hain Celestial Group Profile

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.