The Manufacturers Life Insurance Company Purchases New Shares in The Honest Company, Inc. (NASDAQ:HNST)

The Manufacturers Life Insurance Company acquired a new position in The Honest Company, Inc. (NASDAQ:HNST) in the second quarter, HoldingsChannel.com reports. The fund acquired 32,187 shares of the company’s stock, valued at approximately $94,000.

Other hedge funds have also modified their holdings of the company. Deerfield Management Company L.P. Series C increased its stake in shares of Honest by 37.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 150,190 shares of the company’s stock valued at $439,000 after purchasing an additional 41,222 shares in the last quarter. Sei Investments Co. acquired a new stake in Honest in the second quarter valued at approximately $218,000. XTX Topco Ltd increased its position in shares of Honest by 6.4% in the second quarter. XTX Topco Ltd now owns 137,797 shares of the company’s stock valued at $402,000 after buying an additional 8,282 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Honest by 117.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,000 shares of the company’s stock worth $4,579,000 after buying an additional 846,300 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Honest by 68.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 943,618 shares of the company’s stock worth $2,755,000 after buying an additional 382,418 shares during the period. 45.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Honest

In other Honest news, EVP Stephen Winchell sold 6,938 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $4.28, for a total transaction of $29,694.64. Following the transaction, the executive vice president now owns 414,736 shares of the company’s stock, valued at approximately $1,775,070.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director James D. White sold 70,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $3.98, for a total value of $278,600.00. Following the completion of the sale, the director now owns 309,244 shares of the company’s stock, valued at $1,230,791.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Stephen Winchell sold 6,938 shares of Honest stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $4.28, for a total transaction of $29,694.64. Following the sale, the executive vice president now directly owns 414,736 shares in the company, valued at approximately $1,775,070.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,531,187 shares of company stock valued at $9,018,480. 8.60% of the stock is currently owned by insiders.

Honest Stock Up 0.3 %

Shares of NASDAQ HNST opened at $3.79 on Monday. The firm has a 50-day simple moving average of $3.93 and a 200-day simple moving average of $3.37. The stock has a market capitalization of $373.84 million, a price-to-earnings ratio of -16.48 and a beta of 1.87. The Honest Company, Inc. has a 52 week low of $1.07 and a 52 week high of $4.89.

Honest (NASDAQ:HNST) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Honest had a negative net margin of 3.50% and a negative return on equity of 10.00%. The company had revenue of $93.05 million during the quarter, compared to the consensus estimate of $87.63 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. As a group, equities research analysts expect that The Honest Company, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HNST shares. Northland Capmk raised shares of Honest to a “strong-buy” rating in a research note on Tuesday, August 6th. Loop Capital upgraded shares of Honest from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Tuesday, June 25th. Northland Securities began coverage on shares of Honest in a research report on Tuesday, August 6th. They set an “outperform” rating and a $6.00 price target for the company. Finally, B. Riley started coverage on shares of Honest in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.50 price target on the stock. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.04.

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.