Hanesbrands Inc. (NYSE:HBI) Sees Large Drop in Short Interest

Hanesbrands Inc. (NYSE:HBI - Get Free Report) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 26,710,000 shares, a decrease of 15.5% from the March 15th total of 31,610,000 shares. Approximately 7.7% of the company's stock are short sold. Based on an average daily trading volume, of 7,690,000 shares, the short-interest ratio is presently 3.5 days.

Insider Transactions at Hanesbrands

In other Hanesbrands news, Director Robert F. Moran purchased 74,850 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $6.01 per share, for a total transaction of $449,848.50. Following the completion of the purchase, the director now owns 216,373 shares in the company, valued at $1,300,401.73. The trade was a 52.89 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On Hanesbrands

Several large investors have recently made changes to their positions in HBI. GeoWealth Management LLC increased its position in Hanesbrands by 2,278.8% in the 4th quarter. GeoWealth Management LLC now owns 3,473 shares of the textile maker's stock valued at $28,000 after acquiring an additional 3,327 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Hanesbrands by 122.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,920 shares of the textile maker's stock worth $40,000 after purchasing an additional 2,712 shares in the last quarter. Transce3nd LLC acquired a new position in shares of Hanesbrands during the fourth quarter valued at $45,000. WFA Asset Management Corp bought a new stake in shares of Hanesbrands during the fourth quarter valued at about $46,000. Finally, CX Institutional bought a new position in Hanesbrands in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 80.31% of the company's stock.

Hanesbrands Price Performance

Shares of NYSE:HBI remained flat at $4.82 during trading on Friday. The stock had a trading volume of 3,126,995 shares, compared to its average volume of 7,072,245. The company has a market capitalization of $1.70 billion, a PE ratio of -5.24 and a beta of 1.55. Hanesbrands has a 52 week low of $4.02 and a 52 week high of $9.10. The company has a quick ratio of 0.68, a current ratio of 1.37 and a debt-to-equity ratio of 64.28. The stock has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $7.12.

Hanesbrands (NYSE:HBI - Get Free Report) last posted its earnings results on Thursday, February 13th. The textile maker reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $888.47 million for the quarter, compared to analysts' expectations of $899.30 million. Hanesbrands had a positive return on equity of 108.01% and a negative net margin of 8.06%. On average, analysts forecast that Hanesbrands will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Hanesbrands from $7.00 to $5.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. UBS Group upped their price target on Hanesbrands from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday.

Hanesbrands Company Profile

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.