Hasbro, Inc. (NASDAQ:HAS) Short Interest Down 32.0% in June

Hasbro, Inc. (NASDAQ:HAS) saw a large decline in short interest in June. As of June 15th, there was short interest totalling 5,100,000 shares, a decline of 32.0% from the May 31st total of 7,500,000 shares. Based on an average daily trading volume, of 1,860,000 shares, the short-interest ratio is presently 2.7 days. Approximately 3.9% of the shares of the stock are sold short.

Insider Transactions at Hasbro

In other news, EVP Tarrant L. Sibley sold 13,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $60.26, for a total transaction of $783,380.00. Following the sale, the executive vice president now directly owns 53,003 shares of the company’s stock, valued at $3,193,960.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On Hasbro

Hedge funds have recently modified their holdings of the stock. Studio Investment Management LLC bought a new stake in Hasbro during the 3rd quarter worth approximately $26,000. Lindbrook Capital LLC grew its position in Hasbro by 56.2% during the 1st quarter. Lindbrook Capital LLC now owns 464 shares of the company’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Hasbro by 300.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 544 shares of the company’s stock worth $28,000 after acquiring an additional 408 shares during the last quarter. Optiver Holding B.V. bought a new stake in Hasbro during the 4th quarter worth approximately $36,000. Finally, Orion Capital Management LLC bought a new stake in Hasbro during the 3rd quarter worth approximately $37,000. 91.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HAS has been the topic of several recent analyst reports. Roth Mkm upped their price target on Hasbro from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upgraded Hasbro from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $61.00 to $74.00 in a research note on Thursday, May 23rd. Monness Crespi & Hardt boosted their target price on Hasbro from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. StockNews.com upgraded Hasbro from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Bank of America upgraded Hasbro from a “neutral” rating to a “buy” rating and boosted their target price for the company from $70.00 to $80.00 in a research note on Friday, June 14th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Hasbro Trading Up 0.6 %

Hasbro stock traded up $0.34 during trading hours on Friday, hitting $58.50. The stock had a trading volume of 5,116,629 shares, compared to its average volume of 2,243,733. The company has a 50-day moving average of $60.43 and a two-hundred day moving average of $54.74. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 2.88. Hasbro has a fifty-two week low of $42.66 and a fifty-two week high of $73.57.

Hasbro (NASDAQ:HAS) last issued its earnings results on Wednesday, April 24th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. Hasbro had a positive return on equity of 25.41% and a negative net margin of 29.60%. The business had revenue of $757.30 million during the quarter, compared to analysts’ expectations of $739.84 million. During the same period in the prior year, the firm posted $0.01 EPS. Hasbro’s quarterly revenue was down 24.3% compared to the same quarter last year. Research analysts predict that Hasbro will post 3.72 earnings per share for the current fiscal year.

About Hasbro

Hasbro, Inc, together with its subsidiaries, operates as a toy and game company in the United States, Europe, Canada, Mexico, Latin America, Australia, China, and Hong Kong. The company operates through Consumer Products; Wizards of the Coast and Digital Gaming; Entertainment; and Corporate and Other segments.