Finish Line Inc (FINL) Hits New 1-Year Low Following Weak Earnings

Finish Line Inc (NASDAQ:FINL) shares hit a new 52-week low during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $13.00 and last traded at $12.97, with a volume of 9,105,253 shares traded. The stock had previously closed at $16.06.

The specialty retailer reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by $0.20. The business had revenue of $557.50 million for the quarter, compared to the consensus estimate of $544.88 million. Finish Line had a negative net margin of 0.25% and a positive return on equity of 11.57%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.83 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Friday, May 26th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $0.44 annualized dividend and a yield of 2.80%. Finish Line’s dividend payout ratio (DPR) is currently -285.71%.

Several research analysts recently issued reports on the company. B. Riley cut Finish Line to a “neutral” rating and set a $22.00 price objective on the stock. in a research note on Tuesday, December 27th. Jefferies Group LLC set a $19.00 price objective on Finish Line and gave the stock a “buy” rating in a research note on Saturday, March 25th. FBR & Co dropped their price objective on Finish Line from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, March 27th. Zacks Investment Research cut Finish Line from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 29th. Finally, Wedbush cut their price target on Finish Line from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 27th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.76.

In other news, COO Melissa A. Greenwell sold 4,077 shares of Finish Line stock in a transaction that occurred on Saturday, July 29th. The shares were sold at an average price of $21.67, for a total transaction of $88,348.59. Following the sale, the chief operating officer now owns 11,862 shares of the company’s stock, valued at approximately $257,049.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Melissa A. Greenwell sold 7,525 shares of Finish Line stock in a transaction that occurred on Saturday, July 15th. The shares were sold at an average price of $22.71, for a total transaction of $170,892.75. Following the sale, the chief operating officer now directly owns 11,862 shares in the company, valued at approximately $269,386.02. The disclosure for this sale can be found here. Insiders sold a total of 12,402 shares of company stock worth $272,817 over the last three months. Corporate insiders own 4.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Quantitative Systematic Strategies LLC purchased a new stake in Finish Line during the first quarter valued at approximately $198,000. Louisiana State Employees Retirement System raised its stake in Finish Line by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the specialty retailer’s stock valued at $235,000 after buying an additional 200 shares during the last quarter. Foundry Partners LLC raised its stake in Finish Line by 12.6% in the first quarter. Foundry Partners LLC now owns 163,688 shares of the specialty retailer’s stock valued at $2,329,000 after buying an additional 18,343 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Finish Line by 2,410.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 554,857 shares of the specialty retailer’s stock valued at $10,437,000 after buying an additional 532,759 shares during the last quarter. Finally, Norges Bank purchased a new stake in Finish Line during the fourth quarter valued at approximately $17,540,000.

The company’s 50 day moving average is $15.28 and its 200-day moving average is $18.85. The stock’s market cap is $627.15 million.

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About Finish Line

The Finish Line, Inc is a specialty retailer. The Company is a retailer of athletic shoes, apparel and accessories for men, women and kids, throughout the United States and Puerto Rico. The Company operates through the Finish Line brand. Finish Line is a retailer of athletic shoes, apparel and accessories.

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