Advisors Preferred LLC Takes Position in Hanesbrands Inc. (NYSE:HBI)

Advisors Preferred LLC bought a new position in shares of Hanesbrands Inc. (NYSE:HBI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 73,795 shares of the textile maker's stock, valued at approximately $593,000.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings in Hanesbrands by 42.3% in the 3rd quarter. Blue Trust Inc. now owns 5,359 shares of the textile maker's stock valued at $39,000 after purchasing an additional 1,594 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of Hanesbrands in the fourth quarter worth about $46,000. Whittier Trust Co. acquired a new stake in shares of Hanesbrands in the third quarter valued at about $51,000. GAMMA Investing LLC raised its holdings in shares of Hanesbrands by 39.7% during the 4th quarter. GAMMA Investing LLC now owns 6,669 shares of the textile maker's stock valued at $54,000 after buying an additional 1,895 shares during the period. Finally, Marshall Wace LLP acquired a new position in Hanesbrands during the 2nd quarter worth approximately $70,000. Hedge funds and other institutional investors own 80.31% of the company's stock.

Wall Street Analyst Weigh In

HBI has been the subject of several recent research reports. Barclays increased their price objective on shares of Hanesbrands from $6.00 to $7.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. UBS Group raised shares of Hanesbrands from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $9.00 to $11.00 in a research note on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hanesbrands currently has an average rating of "Hold" and a consensus price target of $6.90.

Hanesbrands Stock Performance

Shares of HBI stock traded up $0.16 on Wednesday, hitting $7.69. 10,192,162 shares of the stock traded hands, compared to its average volume of 4,873,514. The company has a market capitalization of $2.71 billion, a PE ratio of -11.65 and a beta of 1.63. The company's fifty day moving average is $8.25 and its 200 day moving average is $7.45. The company has a debt-to-equity ratio of 21.50, a current ratio of 1.49 and a quick ratio of 0.90. Hanesbrands Inc. has a 1-year low of $4.06 and a 1-year high of $9.10.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.