Los Angeles Capital Management LLC Makes New Investment in The Honest Company, Inc. (NASDAQ:HNST)

Los Angeles Capital Management LLC purchased a new stake in shares of The Honest Company, Inc. (NASDAQ:HNST - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 118,230 shares of the company's stock, valued at approximately $819,000. Los Angeles Capital Management LLC owned approximately 0.12% of Honest as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Honest by 45.2% in the 4th quarter. Bank of New York Mellon Corp now owns 377,724 shares of the company's stock valued at $2,618,000 after buying an additional 117,612 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Honest in the 4th quarter worth $409,000. Olympiad Research LP purchased a new stake in shares of Honest during the 4th quarter worth $168,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Honest during the 4th quarter worth $1,019,000. Finally, Ieq Capital LLC boosted its position in Honest by 61.3% during the fourth quarter. Ieq Capital LLC now owns 130,651 shares of the company's stock valued at $905,000 after purchasing an additional 49,673 shares in the last quarter. Institutional investors own 45.54% of the company's stock.

Insider Activity

In other Honest news, Director Jessica Warren sold 465,000 shares of Honest stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $7.55, for a total value of $3,510,750.00. Following the completion of the transaction, the director now owns 1,170,058 shares of the company's stock, valued at approximately $8,833,937.90. The trade was a 28.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.60% of the company's stock.

Remove Ads

Honest Price Performance

NASDAQ:HNST traded down $0.24 during midday trading on Thursday, hitting $4.99. The company's stock had a trading volume of 1,312,686 shares, compared to its average volume of 2,005,674. The Honest Company, Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.97. The firm has a market cap of $542.92 million, a P/E ratio of -124.38 and a beta of 2.43. The firm's 50 day moving average is $6.17 and its 200-day moving average is $5.48.

Honest (NASDAQ:HNST - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The firm had revenue of $99.84 million for the quarter, compared to analyst estimates of $96.46 million. Honest had a negative net margin of 1.13% and a negative return on equity of 3.26%. As a group, analysts forecast that The Honest Company, Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on HNST. Telsey Advisory Group reissued a "market perform" rating and set a $7.00 price target on shares of Honest in a research report on Thursday, February 27th. Loop Capital downgraded Honest from a "buy" rating to a "hold" rating and set a $7.00 target price on the stock. in a research note on Tuesday, December 17th. B. Riley increased their price target on Honest from $6.50 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Northland Securities boosted their price target on Honest from $7.50 to $9.50 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Finally, Alliance Global Partners increased their price objective on shares of Honest from $5.75 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.93.

Honest 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.