First Trust Advisors LP cut its position in shares of The Finish Line Inc. (NASDAQ:FINL) by 75.3% during the second quarter, Holdings Channel reports. The fund owned 27,935 shares of the company’s stock after selling 84,954 shares during the period. First Trust Advisors LP owned approximately 0.07% of The Finish Line worth $564,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of FINL. Eqis Capital Management Inc. raised its stake in The Finish Line by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 12,685 shares of the company’s stock worth $256,000 after buying an additional 126 shares during the last quarter. Foundry Partners LLC bought a new stake in The Finish Line during the second quarter worth about $2,795,000. BNP Paribas Arbitrage SA raised its stake in The Finish Line by 83.3% in the second quarter. BNP Paribas Arbitrage SA now owns 14,631 shares of the company’s stock worth $295,000 after buying an additional 6,648 shares during the last quarter. Bayesian Capital Management LP bought a new stake in The Finish Line during the first quarter worth about $248,000. Finally, Invictus RG bought a new stake in The Finish Line during the first quarter worth about $163,000.
The Finish Line Inc. (NASDAQ:FINL) traded down 2.545% during midday trading on Tuesday, reaching $22.015. 349,662 shares of the company traded hands. The firm’s 50 day moving average price is $23.32 and its 200 day moving average price is $20.86. The Finish Line Inc. has a 12 month low of $15.37 and a 12 month high of $24.52. The firm has a market capitalization of $892.97 million, a price-to-earnings ratio of 69.668 and a beta of 0.99.
The Finish Line (NASDAQ:FINL) last released its quarterly earnings results on Friday, September 23rd. The company reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. The business had revenue of $509.40 million for the quarter. The Finish Line had a net margin of 0.72% and a return on equity of 8.83%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS. On average, analysts expect that The Finish Line Inc. will post $1.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.77%. The Finish Line’s dividend payout ratio is currently 108.11%.
Several research analysts have weighed in on FINL shares. Canaccord Genuity reiterated a “buy” rating and issued a $25.00 price target on shares of The Finish Line in a report on Wednesday, September 21st. Zacks Investment Research downgraded The Finish Line from a “buy” rating to a “hold” rating in a report on Monday, September 12th. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price target (up from $23.40) on shares of The Finish Line in a report on Monday, September 12th. Piper Jaffray Cos. set a $18.00 price target on The Finish Line and gave the company a “hold” rating in a report on Wednesday, September 21st. Finally, Buckingham Research downgraded The Finish Line from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $23.00 in a report on Monday, September 26th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.75.
In related news, insider Glenn S. Lyon sold 38,523 shares of The Finish Line stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $23.19, for a total value of $893,348.37. Following the transaction, the insider now owns 192,088 shares in the company, valued at approximately $4,454,520.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Norman H. Gurwitz sold 3,000 shares of The Finish Line stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $22.41, for a total transaction of $67,230.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at approximately $123,658.38. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
The Finish Line Company Profile
Finish Line, Inc is a specialty retailer. The Company operates two retail divisions: the Finish Line and JackRabbit brands. Finish Line is a retailer of athletic shoes, apparel and accessories. The Company operates approximately 590 Finish Line stores, which average over 5,550 square feet, in approximately 40 United States’ states and Puerto Rico.
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