Oppenheimer Asset Management Inc. Grows Position in Blackhawk Network Holdings, Inc. (HAWK)

Oppenheimer Asset Management Inc. lifted its position in shares of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) by 28.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,254 shares of the credit services provider’s stock after purchasing an additional 1,610 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Blackhawk Network Holdings were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio raised its stake in Blackhawk Network Holdings by 38.9% during the second quarter. Strs Ohio now owns 2,500 shares of the credit services provider’s stock valued at $109,000 after buying an additional 700 shares during the last quarter. Horrell Capital Management Inc. purchased a new position in Blackhawk Network Holdings during the second quarter valued at $121,000. Ameritas Investment Partners Inc. purchased a new position in Blackhawk Network Holdings during the first quarter valued at $193,000. Turner Investments LLC purchased a new position in Blackhawk Network Holdings during the first quarter valued at $203,000. Finally, Harbor Advisors LLC purchased a new position in Blackhawk Network Holdings during the first quarter valued at $203,000. Institutional investors own 95.31% of the company’s stock.

In other news, CFO Jerry N. Ulrich sold 75,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $45.15, for a total value of $3,386,250.00. Following the completion of the sale, the chief financial officer now owns 63,280 shares of the company’s stock, valued at approximately $2,857,092. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David C. Tate sold 18,669 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $42.88, for a total value of $800,526.72. The disclosure for this sale can be found here. Insiders sold a total of 96,212 shares of company stock valued at $4,298,465 in the last three months. Insiders own 3.80% of the company’s stock.

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A number of brokerages have issued reports on HAWK. BMO Capital Markets reiterated an “outperform” rating and set a $52.00 price objective (up previously from $50.00) on shares of Blackhawk Network Holdings in a research note on Tuesday, September 12th. Craig Hallum reiterated a “buy” rating and set a $58.00 price objective on shares of Blackhawk Network Holdings in a research note on Friday, September 1st. BidaskClub upgraded Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded Blackhawk Network Holdings from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $53.00 price objective (up previously from $49.00) on shares of Blackhawk Network Holdings in a research note on Monday, July 24th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $45.86.

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) opened at 44.30 on Tuesday. The stock has a 50 day moving average price of $43.58 and a 200 day moving average price of $41.86. Blackhawk Network Holdings, Inc. has a 1-year low of $29.19 and a 1-year high of $46.70. The stock’s market cap is $2.51 billion.

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

Blackhawk Network Holdings Company Profile

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.

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

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