Blackhawk Network Holdings, Inc. (HAWK) Shares Down 20.5% on Analyst Downgrade

When investors engage in short selling or "shorting a stock", they actually borrow shares from an existing owner, sell the borrowed shares at market price, and take the cash.

Company shares last traded at $35.20 well below $44.01, the stock's 50 day moving average and significantly lower than the 200 day moving average of $42.68.

Blackhawk Network Holdings, Inc.is a prepaid payment network. For the quarter ending Mar-18, 7 analysts have a mean sales target of 240.71 million whilst for the year ending Dec-17, 9 analysts have a mean target of 1,110.75 million. Nomura Holdings Inc. raised its stake in shares of Blackhawk Network Holdings by 2.7% in the 2nd quarter. Hedge funds and other institutional investors own 95.31% of the company's stock. (NASDAQ:HAWK)'s stock was -6.70%. (NASDAQ:CASI)'s stock about -29.55% from the 50-day high and 267.89% away from the 50-day low. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The stock was sold at an average price of $43.92, for a total transaction of $111,688.56. Following the completion of the transaction, the chief financial officer now directly owns 63,280 shares in the company, valued at $2,857,092. The disclosure for this sale can be found here. A rating of 4 or 5 would represent a Sell recommendation. It has been assigned a low target price of $70 and a high target price of $90. Blackhawk Network Holdings, Inc. Current price places the company's stock -14.1% away from its 200-day simple moving average, -19.45%, away from the 50-day average and also -19.87% away from 20-day average.

Blackhawk Network Holdings, Inc is now down by 20.36% since yesterday's close of 44.2 and is one of the laggers in today's market. The current consensus recommendation provided by covering analysts is 3.80. BlackRock Inc. boosted its stake in Blackhawk Network Holdings by 71,649.0% during the 1st quarter. The business had revenue of $419.30 million during the quarter, compared to analysts' expectations of $439.32 million. Over the past month the firm's stock is 215.38%, 200.95% for the last quarter, 182.76% for the past six-months and 112.99% for the a year ago. Raymond James Financial, Inc. reissued a "market perform" rating on shares of Blackhawk Network Holdings in a research note on Thursday.

A number of research firms have recently weighed in on HAWK. (NASDAQ:HAWK) was down 20.5% on Thursday after Bank of America Corporation lowered their price target on the stock from $50.00 to $46.00. The short sellers then promise to replace the stock in the future and makes dividend payments out of their own pockets to cover the dividend income that is no longer exists on the original, now borrowed and sold, shares.

Equity analyst Mizuho began coverage of the stock setting a rating of "Buy". Finally, Zacks Investment Research cut Blackhawk Network Holdings from a "buy" rating to a "hold" rating in a research report on Wednesday, September 20th. BidaskClub downgraded Blackhawk Network Holdings from a "buy" rating to a "hold" rating in a research note on Wednesday, June 21st. At the time of writing, the First Call consensus price target for the company is $6.50. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and global trademark and copyright law. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of worldwide copyright law.

"We have recently seen increasing competitive pressures in some retail markets and believe this will result in lower growth in our USA retail physical channels going forward", said Blackhawk CEO Talbott Roche in a statement.

Related Articles

  • Just Sayin' …Why is America so in love with guns?

    Just Sayin' …Why is America so in love with guns?

    Supreme Court recognized this amendment as anything more than silly blather from a bunch of dead guys. The Second Amendment provides a collective right to gun possession, not an individual right.
    Is Trump right that rising stock market can reduce national debt?

    Is Trump right that rising stock market can reduce national debt?

    Trump is right that the stock market has added trillions in value since his election. It's correct that the USA owed almost $20 trillion when Trump took office.
    Canadian hostages held for 5 years in Afghanistan freed

    Canadian hostages held for 5 years in Afghanistan freed

    Thursday's statements from Islamabad and Washington were the first mention of a third child. Pakistani troops shot out the tires of a vehicle carrying a kidnapped U.S.
  • Senator Susan Collins Will Not Run for Governor of Maine

    Senator Susan Collins Will Not Run for Governor of Maine

    She spoke of how she's proud of her time in the Senate, and how she felt as though she was able to represent ME well. Most famously, she played a crucial role this summer in dooming his goal of repealing the Affordable Care Act.
    Honor 6C Pro: 5.2-inch screen, €179, November Europe release

    Honor 6C Pro: 5.2-inch screen, €179, November Europe release

    The dual speaker grilles are seen at the very bottom edge of the device along with a microUSB charging port sitting in the middle. The smartphone runs on Android 7.0 Nougat operating system which is wrapped under EMUI 5.1 and is backed up by a 3050mAh battery.
    Kane Wins EPL September Player Of The Month Award

    Kane Wins EPL September Player Of The Month Award

    Even those at the very top, like Sheikh Mansour, have little control over these mechanisms of fiscal power anymore. And yet arguing that you could be priced out of winning a Premier League title doesn't really get you anywhere.
  • Investors Catching Stocks SeaWorld Entertainment, Inc. (SEAS)

    The stock witnessed 2.81% gains, -12.67% declines and -19.07% declines for the 1-month, 3-month and 6-month period, respectively. Hill Path Capital Partners LP also bought $13.87 million worth of SeaWorld Entertainment Inc (NYSE: SEAS ) on Monday, May 22.
    USA  aircraft carrier, ROK navy to stage drills off Korean peninsula

    USA aircraft carrier, ROK navy to stage drills off Korean peninsula

    Anti-aircraft and anti-ship guns will be fired during the exercise, the navy added. It was the second port call of the USA submarine to the South Korean port city.
    Microsoft's Edge Browser Is Headed to iOS, Android

    Microsoft's Edge Browser Is Headed to iOS, Android

    At that time it was their goal to replace the more complex launchers on Android to simplify the Android launcher experience. You'll have to download Apple's Testflight app from the App Store and be running iOS9 or later on your device to proceed.
  • Facebook promises action on Russian ads

    Facebook promises action on Russian ads

    She said the company had been too permissive at times in terms of how advertisers were allowed to target users. Senate seat in Tennessee. "In that ad, there's a lot of positions that people don't like, that I don't like.
    Luján Calls On FCC To Reject Threat To Revoke NBC's Broadcast License

    Luján Calls On FCC To Reject Threat To Revoke NBC's Broadcast License

    President: Are you recanting of the Oath you took on January 20 to preserve, protect, and defend the 1st Amendment?" Sen. The request was what reportedly led Secretary of State Rex Tillerson to call Trump a "moron".
    Rafael Nadal marches into Shanghai Masters quarters

    Rafael Nadal marches into Shanghai Masters quarters

    Cilic was broken for the first time in his 29th service game of the week at 3-3 in the second set by Ramos-Vinolas. While a Nadal-Federer final looms, Argentina's Juan Martin del Potro could ruin the script, as he did at the U.S.