Eagle Rock Investment Company LLC Sells 35,785 Shares of Hasbro, Inc. (NASDAQ:HAS)

Eagle Rock Investment Company LLC lowered its position in shares of Hasbro, Inc. (NASDAQ:HAS) by 67.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,624 shares of the company’s stock after selling 35,785 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Hasbro were worth $985,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Hasbro by 224.8% during the 3rd quarter. Blue Trust Inc. now owns 432 shares of the company’s stock valued at $31,000 after buying an additional 299 shares in the last quarter. True Wealth Design LLC bought a new stake in Hasbro during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of Hasbro in the third quarter valued at about $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Hasbro in the third quarter worth about $45,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Hasbro during the third quarter worth about $49,000. 91.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HAS shares. Jefferies Financial Group boosted their price target on Hasbro from $75.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. DA Davidson boosted their target price on shares of Hasbro from $59.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Morgan Stanley upped their target price on shares of Hasbro from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Bank of America lifted their price target on shares of Hasbro from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Hasbro from $76.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Hasbro currently has an average rating of “Moderate Buy” and a consensus price target of $80.11.

Insider Transactions at Hasbro

In other news, EVP Matthew Edward Austin sold 1,718 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $65.06, for a total value of $111,773.08. Following the completion of the sale, the executive vice president now owns 36,828 shares in the company, valued at approximately $2,396,029.68. This trade represents a 4.46 % decrease in their position. The transaction 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.

Hasbro Stock Performance

HAS stock opened at $57.74 on Friday. Hasbro, Inc. has a 52 week low of $46.09 and a 52 week high of $73.46. The company has a fifty day simple moving average of $60.81 and a two-hundred day simple moving average of $64.35. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 2.64.

Hasbro (NASDAQ:HAS) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.28 by $0.45. Hasbro had a positive return on equity of 47.91% and a negative net margin of 14.83%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business posted $1.64 earnings per share. The firm’s revenue was down 14.8% on a year-over-year basis. Research analysts predict that Hasbro, Inc. will post 3.87 EPS 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.