8,900 Shares in Blackhawk Network Holdings, Inc. (HAWK) Acquired by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,900 shares of the credit services provider’s stock, valued at approximately $388,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Reinhart Partners Inc. increased its position in shares of Blackhawk Network Holdings by 2.7% in the second quarter. Reinhart Partners Inc. now owns 81,870 shares of the credit services provider’s stock worth $3,570,000 after buying an additional 2,150 shares during the period. AMI Asset Management Corp increased its position in shares of Blackhawk Network Holdings by 6.6% in the second quarter. AMI Asset Management Corp now owns 383,339 shares of the credit services provider’s stock worth $16,714,000 after buying an additional 23,875 shares during the period. Horrell Capital Management Inc. bought a new stake in Blackhawk Network Holdings during the second quarter valued at about $121,000. Bank of Montreal Can increased its stake in Blackhawk Network Holdings by 10.1% in the second quarter. Bank of Montreal Can now owns 369,833 shares of the credit services provider’s stock valued at $16,124,000 after buying an additional 33,917 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Blackhawk Network Holdings during the first quarter valued at about $1,485,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

Shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) traded up 0.71% on Friday, reaching $42.70. The company’s stock had a trading volume of 434,026 shares. The company’s market cap is $2.42 billion. The firm has a 50 day moving average of $43.41 and a 200 day moving average of $40.74. Blackhawk Network Holdings, Inc. has a 52-week low of $28.88 and a 52-week high of $46.70.

Blackhawk Network Holdings (NASDAQ:HAWK) last announced its earnings results on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The firm had revenue of $463.10 million for the quarter, compared to analyst estimates of $447.43 million. Blackhawk Network Holdings had a negative net margin of 0.01% and a positive return on equity of 5.49%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. Analysts predict that Blackhawk Network Holdings, Inc. will post $1.68 earnings per share for the current year.

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Several analysts have recently issued reports on HAWK shares. BMO Capital Markets upgraded Blackhawk Network Holdings from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $50.00 in a research note on Wednesday, June 28th. Citigroup Inc. reiterated a “buy” rating and set a $47.00 price target on shares of Blackhawk Network Holdings in a research note on Monday, July 17th. BidaskClub upgraded Blackhawk Network Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. TheStreet downgraded Blackhawk Network Holdings from a “b-” rating to a “c” rating in a research note on Tuesday, June 20th. Finally, Deutsche Bank AG increased their target price on Blackhawk Network Holdings from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.14.

In related news, SVP David C. Tate sold 18,669 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $42.88, for a total transaction of $800,526.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jerry N. Ulrich sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total transaction of $3,386,250.00. Following the sale, the chief financial officer now directly owns 63,280 shares in the company, valued at approximately $2,857,092. The disclosure for this sale can be found here. Insiders have sold a total of 96,212 shares of company stock worth $4,298,465 in the last ninety days. Insiders own 3.80% of the company’s stock.

About Blackhawk Network Holdings

Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.

Institutional Ownership by Quarter for Blackhawk Network Holdings (NASDAQ:HAWK)

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