Credit Suisse AG Has $1.93 Million Stake in Blackhawk Network Holdings, Inc. (HAWK)

Credit Suisse AG cut its stake in Blackhawk Network Holdings, Inc. (NASDAQ:HAWK) by 34.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,533 shares of the credit services provider’s stock after selling 24,734 shares during the period. Credit Suisse AG’s holdings in Blackhawk Network Holdings were worth $1,929,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Blackhawk Network Holdings by 3.7% in the first quarter. Vanguard Group Inc. now owns 4,418,095 shares of the credit services provider’s stock valued at $179,375,000 after buying an additional 156,299 shares in the last quarter. BlackRock Inc. raised its stake in shares of Blackhawk Network Holdings by 71,649.0% in the first quarter. BlackRock Inc. now owns 3,416,688 shares of the credit services provider’s stock valued at $138,718,000 after buying an additional 3,411,926 shares in the last quarter. Jana Partners LLC bought a new stake in shares of Blackhawk Network Holdings during the first quarter valued at $109,418,000. Park West Asset Management LLC raised its stake in shares of Blackhawk Network Holdings by 11.9% in the first quarter. Park West Asset Management LLC now owns 2,535,262 shares of the credit services provider’s stock valued at $102,932,000 after buying an additional 268,763 shares in the last quarter. Finally, River Road Asset Management LLC raised its stake in shares of Blackhawk Network Holdings by 12.1% in the first quarter. River Road Asset Management LLC now owns 1,670,092 shares of the credit services provider’s stock valued at $67,806,000 after buying an additional 180,536 shares in the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Blackhawk Network Holdings, Inc. (HAWK) traded down 0.47% on Thursday, reaching $42.10. The company had a trading volume of 56,481 shares. The company has a 50-day moving average price of $43.40 and a 200-day moving average price of $40.45. Blackhawk Network Holdings, Inc. has a one year low of $28.88 and a one year high of $46.70. The firm’s market cap is $2.39 billion.

Blackhawk Network Holdings (NASDAQ:HAWK) last issued its quarterly earnings data on Wednesday, July 19th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.07. The firm had revenue of $463.10 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. On average, analysts expect that Blackhawk Network Holdings, Inc. will post $1.68 earnings per share for the current fiscal year.

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HAWK has been the topic of several analyst reports. Zacks Investment Research raised Blackhawk Network Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. BMO Capital Markets raised Blackhawk Network Holdings from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $50.00 in a research report on Wednesday, June 28th. Citigroup Inc. reaffirmed a “buy” rating and issued a $47.00 target price on shares of Blackhawk Network Holdings in a research report on Monday, July 17th. BidaskClub raised Blackhawk Network Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation increased their target price on Blackhawk Network Holdings from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Blackhawk Network Holdings has an average rating of “Buy” and an average target price of $45.14.

In other news, CFO Jerry N. Ulrich sold 75,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 63,280 shares in the company, valued at $2,857,092. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP David C. Tate sold 18,669 shares of the business’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. In the last 90 days, insiders have sold 116,212 shares of company stock valued at $5,123,465. 3.80% of the stock is currently owned by corporate insiders.

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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