Three Bays Capital LP Lifted Blackhawk Network Hldgs INC (HAWK) Position by $43.85 Million as Stock Price Rose

February 15, 2018 - By Hazel Jackson

Three Bays Capital Lp increased its stake in Blackhawk Network Hldgs Inc (HAWK) by 207.68% based on its latest 2017Q3 regulatory filing with the SEC. Three Bays Capital Lp bought 1.02 million shares as the company’s stock rose 16.53% with the market. The institutional investor held 1.51 million shares of the finance company at the end of 2017Q3, valued at $66.17 million, up from 491,000 at the end of the previous reported quarter. Three Bays Capital Lp who had been investing in Blackhawk Network Hldgs Inc for a number of months, seems to be bullish on the $2.54B market cap company. The stock decreased 0.06% or $0.025 during the last trading session, reaching $44.725. About 1.74 million shares traded. Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) has risen 34.41% since February 15, 2017 and is uptrending. It has outperformed by 17.71% the S&P500.

Three Bays Capital Lp, which manages about $1.36B and $1.34 billion US Long portfolio, decreased its stake in Quintiles Ims Holdings Inc (NYSE:Q) by 153,500 shares to 913,324 shares, valued at $86.83 million in 2017Q3, according to the filing. It also reduced its holding in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 392,946 shares in the quarter, leaving it with 2.43M shares, and cut its stake in Peabody Energy Corp New.

More notable recent Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) news were published by: Prnewswire.com which released: “RM LAW Announces Investigation of Blackhawk Network Holdings, Inc.” on January 22, 2018, also Fool.com with their article: “Why Goldcorp, Blackhawk Network Holdings, and Smart & Final Stores Jumped Today” published on January 16, 2018, Seekingalpha.com published: “Blackhawk: Seller’s Remorse Or A Breach Of Fiduciary Duty?” on January 24, 2018. More interesting news about Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) were released by: Prnewswire.com and their article: “Blackhawk Network Partners with Casey’s General Stores to Enable ‘Cash …” published on January 29, 2018 as well as Businesswire.com‘s news article titled: “Bragar Eagel & Squire, PC is Investigating the Board of Directors of Blackhawk …” with publication date: January 16, 2018.

Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) Ratings Coverage

Among 14 analysts covering Blackhawk Network Holdings (NASDAQ:HAWK), 3 have Buy rating, 0 Sell and 11 Hold. Therefore 21% are positive. Blackhawk Network Holdings had 39 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) has “Market Perform” rating given on Friday, January 6 by BMO Capital Markets. On Thursday, October 12 the stock rating was maintained by Bank of America with “Neutral”. The stock of Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) earned “Hold” rating by First Analysis on Tuesday, January 23. On Friday, October 7 the stock rating was downgraded by Bank of America to “Neutral”. As per Friday, October 13, the company rating was maintained by BMO Capital Markets. BMO Capital Markets upgraded the shares of HAWK in report on Wednesday, June 28 to “Outperform” rating. On Friday, May 19 the stock rating was upgraded by Citigroup to “Buy”. On Wednesday, October 18 the stock rating was downgraded by Mizuho to “Neutral”. Jefferies downgraded it to “Hold” rating and $45.0 target in Monday, January 29 report. The stock has “Overweight” rating by First Analysis on Tuesday, December 1.

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