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.

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